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Reimbursed


Abby Normal

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With you!!!

I have one who lists "reimbursements" as INCOME in his business.  But they're not reimbursements at all.  They are payments to him from insurance companies for covered services to their insureds.  Those are separate from "reimburse" which is when he reimburses himself for stuff he bought for the business on his own dime instead of the business dime.   

Ten years and I haven't been able to get through to him.  So we just up-charge him for the time to straighten it all out.

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1 hour ago, PapaJoe said:

A client one time brought in a QuickBooks P&L with only two lines....Income and Expenses.

I hope none of my client's ever see that - I am sure they would think that is sufficient.  They already think they did not take any income from the company because all they did was pay their bills.

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