Hi to the community.
We are a service company providing consulting service to our clients. Beside our professional fee, we claim back actual payments we paid for implementing projects. This is call reimbursement which is a CURRENT ASSETS account in
BALANCE SHEET. Here are the example of transactions and how we want to record it.
We make pay $500 directly to hotel for accommodation of our team to work on the project:
DR. Reimbursement $500
CR. Cash $500
We get a $800 billing from a transportation company that we use for the project.
DR. Reimbursement $800
CR. Account Payable $800
Our staff claim $200 for meal expenses for the project.
DR. Reimbursement $200
CR. Cash $200.
So when we bill back to client we will the the following:
DR. Account Receivable $1,500
CR. Reimbursement $1,500
My question are:
a. How do we record these transactions in ERPNext?
b. As we have my projects for many clients, we want to keep track of Reimbursement Balance by client so that we know how much to bill to each client. How do we keep track this Reimbursement in ERPNext?