How do I record reimbursed expenses? What I did last year was include them in income and then record the expenses in expenses - so they zeroed out. But someone told me this is wrong.

thanks for any help.

The net result was zero, but you still showed it as income... just offset with an equal expense.

To keep it from showing as income (or expense) for however long it takes to be reimbursed...
I would create an asset account (maybe with other receivables) because when you made the purchase (or whatever it was.... that "expense" amount really was not an expense but more an investment or loan that you expect to have money come in to cover... i.e someone owes you so it is a receivable and thus an asset. You could use the same account for both sides of the transaction and it would zero when you are paid back.


Dan