Receiving reimbursements / repayments
Hi, At times our staff may accidentally use their work card for personal expenses, and they pack back the money. Other times we may pay for more expensive travel and the traveller will pay us the di...
Forum Discussion
Hi MishPony,
Thank you for your post.
Apologies for the delayed response. To handle repayments for personal expenses or differences in travel expenses without recording them as income, you can use a clearing account that allows you to track the flow of funds in and out of this account. Create a new account in your chart of accounts. To do this, please refer to this Help article: Set up accounts.
You can then record the expense in the clearing account as an expense. Then record the repayment transaction as a transfer from the clearing account to the actual expense account. Please note that this is a general guide and may not cover all specific scenarios. Always consult with your accountant or a financial advisor for advice tailored to your situation.
I hope this helps! Please let me know if you need further assistance.
Cheers,
Princess
