![]() ![]() ![]() ![]() Repeat the same process to add the rest of your employees as vendors. Uncheck the use display name on the printed check option and enter the employee's correct full name in the blank field to be displayed on the check without the V. QuickBooks Online restricts you from using the same name in multiple lists. This is important if you are using QuickBooks Online payroll to track payroll for your employees. To get started, log in to QuickBooks Online.Ĭlick on the Expenses tab at the left navigation bar, then select Vendors.Īdd your employees as vendors with a V next to their name. Granted you will need to have a designated staff person to collect the receipts from your employees, do the data entry, and oversee the entire process to keep your books in great shape. Now, if you are a small-scale nonprofit or a small business owner with a limited budget, use the bill and bill payment feature in QuickBooks Online to track employee reimbursements. Tip #3 - Use QuickBooks Online Bills and Bill Payment With an accountable plan in place, you can issue credit cards or budget cards to employees to use in covering expenses. If you don't have an accountable plan in place to ensure reimbursements don't become taxable wages to employees, I highly recommend creating one now using the guidelines listed in IRS Publication 463. The second tip is to make sure the app you choose is a part of your IRS accountable plan policy that is listed in your employee handbook. Tip#2 - Implement an IRS Accountable Plan ![]() And your Bookkeeper, CPA, and Auditor will love you when they don't have to spend the time going through your paper receipts and trying to make sense out of them. You don't have to chase people down for source documents, which you are required by the IRS to keep and maintain at least for 7 years. The best part is that all of the apps I mentioned are affordable, audit-proof, comes with reminders, and can import transactions from your debit or credit card accounts. These apps are designed to make it extremely easy for you and your employees to track receipts and expenses on the go from the convenience of a mobile device. The apps that I do recommend using are: Expensify, Neat, and Auto Entry. My #1 tip for tracking employee reimbursements, is to use an audit proof expense tracking app that integrates with QuickBooks Online. ![]()
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