Customer Invoice is only for expense reimbursements

Any non-Tax accounting topics go here.
#1
juro  
Posts:
918
Joined:
18-Oct-2015 9:11am
Location:
USA
My boss told me to invoice his "partner" for about $17k of expenses back in March of this year, and the invoice is still outstanding. We also owe the partner money, probably even more than he owes us. We are trying to find time meet up and get this matter squared away. Neither of us have filed tax returns for year 2016 as of yet, due to lingering stuff like this.

My trouble is our Sales Journal shows this huge $17k invoice as a sale, and I want to move it off. My boss wants the invoice in our Quickbooks system, but is there some other way to do this?
 

#2
eze  
Posts:
311
Joined:
8-May-2014 7:02pm
Location:
Grey Area, California
Reclassify the invoice against the actual expenses incurred by overriding the credit account that the invoice posts to.
 


Return to General Accounting



Who is online

Users browsing this forum: No registered users and 19 guests