QB Issue Resolution:

open the chart of accounts, edit the expense account you use for that expense, when you have the setting track as income turned on, there will be a new choice on the account screen, pick the income account that billable expense should post to

Resolution for Issue 'I checked the box for “Track reimbursed expenses as income” but they still appear in P&L as negative expenses. How do I get them to show up as Income?' available: Yes (Solved).
Source: Intuit Community forum.

I checked the box for “Track reimbursed expenses as income” but they still appear in P&L as negative expenses. How do I get them to show up as Income?: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

Support for Expense Account
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Error Recovery for Expense Account [Canada]
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