Expenses & Reimbursements

October 6, 2023

Q: I have a real estate brokerage company. We pay utility and repair expenses for each property we manage for banks which are later sold. How can I account for the utility bills I pay for which I am reimbursed by the bank?

A: To track REO’s reimbursed expenses in QuickBooks, create a bill or check to pay for the expense account.

Then create an invoice to bill the bank. This will allow you to track accounts receivable – which bank owes you money.

Gita Faust

About the Author

Gita Faust has over 30 years of accounting experience in the real estate and property management industry, Gita Faust is more than just a real estate investor; she is also popular for her work as an accountant, consultant, mentor, speaker, QuickBooks Top ProAdvisor, QuickBooks Solution Provider, member of Intuit’s Trainer/Writer Network, and, of course, author. Gita is well-known for her exemplary leadership and advisory skills. In fact, she even helped pioneer the adaptation of QuickBooks to suit the needs of professionals in real estate and property management. To share her knowledge she has written a series of courses titled Simplified Accounting Solution, which provides step-by-step guidance for those working with QuickBooks.

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