Tip 2:

Create separate accounts for tracking work related reimbursable expenses such as mileage and other work-related expenses (Rec-Work-Related Reimbursements), and medical related reimbursements (Rec-Medical).

Rearrange the accounts so that they are together (Right click property section and select rearrange accounts) when using Quicken 2010.

The benefit for separating these into different accounts as opposed to lumping them all together is to help track any pending unpaid reimbursements/rebates. If they are lumped together, you will need to sort through and find the transactions that have not been reimbursed.

When the Asset balance for these accounts are $0.00, there are no pending reimbursements. It is important that if you record the pending reimbursement into one of these accounts, then when you receive the reimbursement you record it in the appropriate receivable asset account.

Note: If you find that you have to track a lot of reimbursable items such as specific medical expenses, consider creating a separate receivable asset account that is more specific than Rec-Medical.

Remember that the purpose of having these reimbursable accounts is to help track and remember outstanding reimbursements. If your setup is so complex that you don’t use your system in a consistent manner, then simplify it.