Company Purchases

Generally, no funds should be spent without first going through the funds request process.

For smaller necessary expenses that come up, you are generally okay because we typically have $300 min in our account.

Must get expenditures of $500+ that are not budgeted for approved by the board

To reimburse an employee for a company expense they paid:

• log into Quickbooks

• Payroll tab

• make an update to next payroll

• Select employee

• next to wages, there's a "reimbursement' slot. enter the amount there and in the "memo' line put the name of the item they paid for

• save update

Here's stuff I found online and i started doing this too (need to make sure they match up).

• Treat each of these reimbursements as a "Bill" (with line items linked to appropriate Expense / Asset / COGS / etc. accounts) and then list each non-contracted employee as a Vendor / Supplier.

• select a liability account to record it properly in your QuickBooks Online (QBO) account.

• You have two options to reimburse your employees. If you want to pay them on the day of the transaction, you can create an expense transaction and select a liability account.

• But if you want to record the expense first and pay them later, you can create a journal entry for it. For more guidance, feel free to check out this article for the detailed steps and information: Reimburse an employee.