Xero Billable Expenses

[@GabrielBrady]

Thanks for the video. Very helpful. Quick question, would billable expense not be an asset account? This is money in theory owed to the business by the customer making it an asset no? You expect to recover it before financial year end and not carry over a balance to the next financial year so it would be a current asset account.

[@veronikaweber2537]

Hi Yolande. How do you account for billable expenses that have been marked up

[@yolanderoux2068]

Hi Veronika. Hope you are doing well. I hope I understand your questions correct. As far as I know Xero standard don't have an option where you can set a markup % for the billable expense, I know Practice Manager does. However if you want you can add this in manually. In that case I would create a different account shown as an income account.

[@rachelpotter4511]

Very helpful - thank you!