Could someone explain to me how the billable expenses markup works.
I’ve assigned a billable expense (paid for through the cash account) to a client.
Now at the time of invoicing a client, I have created a line item for the specific spare at a mark up.
How do I connect the amounts received against the invoice with the amounts spent as billable expenses. Additionally, how do i show the markup on the billable expenses. Would I have to pass a journal entry to show the markup on the billable expense or is there an easier way to do this?
Manager will automatically calculate markup (if there is any)
If you are creating invoice manually (e.g. clicking New Sales Invoice button under Sales Invoices tab), then make sure the billable expense line item on invoice to customer has account set to Billable expenses. And under Billable expenses tab, the billable expense status is set to Invoiced and the correct invoice is selected. This is how Manager knows billable expense has been in fact billed and for how much.
However if you are creating sales invoice automatically out of billable expenses, then these two steps are done for you automatically.
