QuickBooks Pro 2022: Employee Income and Paid Expenses

Name: QuickBooks Pro 2022: Employee Income and Paid Expenses
Author: Takeisha Strong

Learn how to manage billable employee activities and track reimbursable employee expenses

Preview the first lesson free — get full access to all 3 lessons.

Course: On-Demand

Hello. My name is Takeisha Strong, and in these lessons, we will learn how to record billable employee activities, track reimbursable employee expenses, and how to bill our customer for both. We'll be using our sample product-based company, Rock Castle Construction for the lessons. Let's get started. Keep in mind as you go through these set of lessons that the payroll function within QuickBooks is an additional paid resource for you. If you'd like to turn on payroll, you can choose this option down at the bottom left portion of your screen. You can also process payroll manually using your QuickBooks file or you may be using your own payroll provider of choice, and just need to enter the necessary entries within your company's QuickBooks file. The first step to tracking billable employee activities is to make sure the option is enabled in your company file. To do so, press edit from the main menu, select preferences, payroll and employees, and in the company preferences tab, ensure the job costing class and item tracking for paycheck expenses is selected. Press okay to return to the main menu. To record billable employee activities, we'll be using our time sheet. Even if you're using a outside payroll provider, you can use this tile to record the items that need to be built back to your customer. If you hover over the arrow, you'll have two options. Use a weekly time sheet or enter a single time activity. On the single time activity, you'll note that we can enter the date of the activity. The employee's name. The related customer or job that should be billed. The service item the employee performed for this customer. The duration. The payroll item. And any worker's compensation code. can also be included in this field. If you need to go back, and review this item later, QuickBooks will let you know if this has been billed to the customer yet. If you'd like to use a weekly time sheet, we can select the name of the customer. In this case, let's select new employee. We'll choose the week for which we want to enter our time activity. We'll still have the customer job option. In this case, let's say our new employee worked on the deck for our new customer. Under service item. We'll see the list of services, that we've already added to our item list. Let's say our new employee performed framing. If they need to add any notes, they can do so here. For our class, this is new construction, and let's say the employee worked on framing eight hours on Monday, and two hours on Tuesday. What's most important is to make sure the billable section has a check mark. If you plan to bill your customer for this activity. Let's say during the same week, the employee worked on the deck again, but instead, this time, they did installation, new construction, and we did an additional six hours on Tuesday. Again, we want to make sure the billable column is checked. It's important to note if there are different service items because those service items may be billed at different prices to your customer. Let's take a look. Press save and close. In the items and services list, under services, we can see that framing is built to our customers at a rate of $55 per hour, while installation is built at a rate of $35 per hour. In the next lesson, we'll learn how to track reimbursable employee expenses. Thank you for watching.

Intermediate Provider : Takeisha Strong 3 Lessons · 12m in Arabic, German, English, Spanish, French, Portuguese, Chinese

Course Description

It is typical for companies within certain industries to invoice their customers for employees’ and contractors’ activities, and in some cases their expenses. This module will teach the user to track billable employee activities and reimbursable employee expenses and how to invoice their customers for those items using QuickBooks Pro 2022.

These features are especially useful in situations where creating products or delivering services for your customers is a direct function of an employee’s time. Even if QuickBooks payroll services are not used, we can still track these activities. In some cases, employee expenses can be both reimbursable and billable to your customers. The user will learn to track both after completing this module.

Billable Employee Income and Paid Expenses will teach the user how to use different types of timesheets for hours invested and how to invoice the customer at a markup if desired. This module will teach the user how to reimburse the employee for both out-of-pocket expenses and employee-purchased inventory items, and how to ensure the company’s inventory records are accurately tracked for employee activity.

What You'll Learn

Track billable employee and contractor activities using QuickBooks Pro 2022
Record reimbursable employee expenses, including out-of-pocket costs and employee-purchased inventory items
Invoice customers for employee-related items, applying a markup if desired
Use different types of timesheets to capture hours invested
Identify which employee activities are billable to customers
Ensure company inventory records are accurately tracked for employee activity

Key Takeaways

Companies in certain industries invoice customers for employees' and contractors' activities and, in some cases, their expenses.
These features are especially useful when creating products or delivering services is a direct function of an employee's time.
Billable employee activities and reimbursable expenses can be tracked even when QuickBooks payroll services are not used.
In some cases, employee expenses can be both reimbursable to the employee and billable to customers.
Customers can be invoiced for employee hours at a markup if desired.

Frequently Asked Questions

What will I learn in this course?

You will learn to track billable employee activities and reimbursable employee expenses and how to invoice customers for those items using QuickBooks Pro 2022, including reimbursing employees for out-of-pocket expenses and employee-purchased inventory items while keeping inventory records accurate.

Do I need to use QuickBooks payroll services to take this course?

No. The course explains that even if QuickBooks payroll services are not used, you can still track these billable activities and reimbursable expenses.

What topics or lessons does this course cover?

The course covers three lessons: Billable Employee Activities, Tracking Reimbursable Employee Expenses, and Billing Customers for Employee-Related Items.

Who is this course useful for?

It is useful for those in industries where companies invoice customers for employees' and contractors' activities and expenses, especially where producing products or delivering services is a direct function of an employee's time.

Can I charge customers more than the employee cost?

Yes. The course teaches how to use different types of timesheets for hours invested and how to invoice the customer at a markup if desired.