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?
Thank you for your help in advance!