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Reimbursed Expense
While this function is primarily for use by Drivers the same principals and forms will work for Fleets who may also occasionally run into a situation where they are paying something for a broker or shipper that will need to be reimbursed.
REIMBURSED EXPENSES ARE NOT INCOME - but the correct category for entering them is INCOME since this is money coming in. They will not be reported on any of your reports as income. In essence a Reimbursed Expense is a short term loan that you make to the company and which it pays back to you on your next settlement. The program understands reimbursements and will report them correctly. They are considered a Receivable and outstanding reimbursements will be shown on the Balance Sheet as an Asset (Receivable).
Transaction Type: This is set by the program and cannot be edited.
Payment Account: The drop down list will give you a choice of your CASH accounts. Select the account you are depositing the money into.
Charge To Account: This is set by the program and cannot be edited.
Truck Number: Optional
Trailer: Optional
Amount: Enter the amount of the reimbursement. This needs to match the amount of the reimbursed expense you entered earlier.
Date: Enter or select from the date widget the date you received the reimbursement.
Memo: Enter any memo you want with this entry.
Click the SAVE button. If the amount does not equal a previous which has been entered with that Pro Number you'll get an error -
If you need to change the amount or the Pro Number click Cancel and you'll return to the entry popup. If you want to pay this as an adjustment or a single entry for multiple reimbursements click OK.
If the program can find a matching set of reimbursements for the entered Pro Number it will close all of them. If it can't it will give you another error. OK is the only option and it will delete the entry it made and return you to the I&E page.
If everything is OK the program will create the following transaction -
This shows that this reimbursed and expense in Transaction 1033 which was the original transaction for this expense and it was deposited into the Bank Of Testing.
