Accounting novice: Should travel reimbursements for an LLC be recorded as “Reimbursable Expenses”? Why does that category show up under “Costs of Goods Sold”?
Let’s start here:
“Right now, “Reimbursable Expenses” is set up under Cost of Goods Sold.”
The word Reimburse = a Process. Not an Expense. If I buy Stamps for you, that is my postage expense. If I charge you for the postage for the project, that is my Income. The best reference […]
Resolution for 'Accounting novice issue: 'Should travel reimbursements for an LLC be recorded as “Reimbursable Expenses”? Why does that category show up under “Costs of Goods Sold”?' available: Yes.
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