QuickBooks Time and Expenses: Company Preferences

QuickBooks time and expenses

The QuickBooks time and expenses section allows QuickBooks administrators to change time tracking options to best meet the needs of their company. Here is a rundown of the options listed in the Company Preferences tab, which is the only tab that contains options for this section.

  • Time Tracking
    • From here you can choose whether or not you want QuickBooks time and expenses to help you track time by choosing yes or no. You can also choose the first day of the work week.
  • Invoicing Options
    • Create Invoices from a List of QuickBooks time and expenses.
      • Choose this option to be able to create an invoice from a list of unbilled time and expenses.
    • Track Reimbursed Expenses as Income
      • Choose this option to classify any money that was reimbursed as income for your company
    • Default Markup Percentage
      • Here you can specify the markup percentage that you usually use. Make sure you enter the number as a percentage. For example, if you enter 17.8 it will read it as 17.8%. Conversely, .0178 will be read as .0178%.
    • Default Markup Account
      • This drop-down lets you choose which account you post your income from markup to.

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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