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Add an Account to Track Reimbursable Expenses

Updated: 6/06/2012 | Article ID: GEN82373

Overview

If you make a lot of reimbursable work-related expenses, you may want to track them in a Quicken cash account.

Instructions

  1. At the bottom of the Account Bar list, click Add Account.
  2. When Quicken asks What is the financial institution for this account?, choose This account is not held at a financial institution, and then click Next.
  3. In the Account Selection window, choose Cash, click Next, and then follow the on-screen instructions.
  4. When you get to the Name dialog, enter a meaningful name, such as Reimbursables.
  5. When you get to the starting date and opening balance dialog, enter today's date and the amount of outstanding reimbursable expenses. Quicken will display this as a positive amount in the Reimbursable account's register. If you are not currently owed any money, enter zero.

Recording reimbursable expenses

  1. In the checking or credit card account where you make the expense, record the transaction in the account register, as usual. This is an expense transaction.
    This transaction should reduce the balance of the checking account.
  2. In the Category field, instead of assigning a category to the transaction, scroll the bottom of the Category List and choose the reimbursable account you created.
    Quicken adds this amount to the balance of the reimbursable account.

Recording a reimbursement

  1. In the account where you receive the reimbursement, record the transaction in the account register, as usual. This is a deposit transaction.
    This transaction should increase the balance of the checking account.
  2. In the Category field, instead of assigning a category to the transaction, scroll the bottom of the Category List and choose the reimbursable account you created.
    Quicken subtracts this amount from the balance of the reimbursable account.

When you have received reimbursements for all your outstanding expenses, the balance of the Reimbursement account will be zero.

 
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