Master the art of tracking billable expenses with Xero. This...
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JacRox are Xero Gold Partners
Experienced Chartered Accountants
Senior Manager at JacRox, Faisal blends traditional accounting with Xero's digital capabilities.
Latest posts by Faisal Mustafa (see all)
Keeping Track of Your Billable Expenses with Xero: A Guide by JacRox Accountants
Introduction: The Importance of Managing Billable Expenses in Xero
Welcome to JacRox, a brand division of Jack Ross Chartered Accountants in Manchester. We are dedicated to offering expert Xero services to a wide variety of clients, from sole traders to large corporations. If you are in need of state-of-the-art cloud accounting software, use the contact form on the right and one of our JacRox team will be in touch to discuss next steps.
Managing expenses is a crucial task for any small business. When it comes to billable expenses, keeping accurate records becomes even more critical. With Xero, you can effortlessly assign billable expenses to specific customers, making invoicing and payment tracking a breeze. This guide will walk you through the features and functionalities of managing billable expenses in Xero Central.
Overview: What is a Billable Expense?
A billable expense is a cost incurred on behalf of a customer. Such expenses can be recharged to the client and usually appear as line items on a sales invoice. With Xero’s user-friendly interface, you can efficiently manage these expenses.
How to Assign Billable Expenses in Xero: A Step-By-Step Guide
Step 1: Create a New Expense Entry
To begin, you must create a new expense entry in Xero. Navigate to the expense page and click on the option to add a billable expense.
Step 2: Assign the Expense to a Customer
Here, you can select the customer to whom the expense will be billed. The ‘assign billable expenses’ feature allows you to allocate costs accurately.
Step 3: Mark the Expense as Billable
Once you assign the expense to a customer, mark it billable. This functionality ensures the expense is included in the customer’s outstanding report.
Step 4: Attach the Receipt
Always make sure to attach the relevant receipt to the expense. This document will serve as proof for your customer later on.
Step 5: Approve the Expense
After adding all the details, approve the expense. Once approved, it will appear as a line item in your customer’s next invoice.
The Jack Ross Team has been an absolute delight. Professional, nice and fast during the Audit procedure. Thank you Jack Ross Team.
Very good service from the Jack Ross Team. They gave us good advice and completed a very efficient audit. They have a friendly and competent team. I would surely recommend them.
Brilliant service from the Jack Ross team in setting up several companies in very quick time, along with providing associated accountancy advice. Can recommend wholeheartedly as a leading accountancy practice with a can-do attitude.
First class service for many years from a first class team. Highly recommended. Prompt, commercially aware, personable.
Been using Jack Ross for a number of years. Good clear advice and nice people to do business with.
Jack Ross is based in Manchester and provides tax planning and Xero accounts. They are a long-standing and well-regarded firm with an excellent reputation. They provide their clients with exceptional service and a wealth of advice. I have no hesitation in using their professional services.
Jack Ross has been my accountants since I set up my business in 2016. From the outset I was helped with advice, support and encouragement. I cannot commend them highly enough. Always on hand to answer any question and responsive to any changes in the economy which might concern their clients. I don’t have to worry about the financial side of my business as all of that is taken care of and dealt with by Umar and the brilliant team. If you are looking for a top class accountancy firm which maintains the personal touch they are for you!
I would recommend this account, knowledgable and helpful
I can confidently recommend Jack Ross Accountants. They are continually improving their service, greatly benefiting our company as well as me personally. The team at Jack Ross have helped suggest and set up innovative accounting software, adding training and support. This alone has been a massive step towards having more control and understanding of our company finances.
We have enjoyed a solid and constructive relationship with JackRoss and Can highly recommend them for accountancy services.
We have been working with Jack Ross for over two years and the service has been fantastic. They have a great and knowledgable team who have taken good care of us and our accounts.
Meeting to review annual accounts and discuss future plans. Very productive as they definitely talk my language - on reflection probably the best such meeting in recent years. Many thanks Umar and Jamie
Jack Ross has serviced my Personal Tax requirements for the last 5 years. During some complicated challenges their advice was excellent and the customer service second to none and left me with no doubt all was in hand.
Following a recommendation, I have used Jack Ross for all my accounting needs (including payroll) since the inception of my business over 12 years ago. The relationship has been completely hassle free and I greatly value their service, which goes well beyond preparation of accounts. Their tax planning advice has been really helpful and I have always felt that they have ‘got my back’. Can’t recommend them enough.
We have finally found the Accountancy firm that we have been looking for! We switched over to Jack Ross towards the end of last year and from the very first contact to the recent submission of our end of year accounts the service provided has been fantastic and has easily exceeded our expectations. Thank you!
Excellent service; very helpful people and work done much quicker than I expected.
I have used Jack Ross as my accountants for a number of years. Their service is professional and accurate. They deal with queries promptly and I can always get hold of the person I need to speak to. Their digital product has made a big difference to the efficiency of my business. I would not hesitate to recommend them.
Jack Ross have been my family and business accountants and financial advisors for over 50 years. The delivery of services is second to none and i would recommend them to anyone. We have also built up great friendships over the years, above and beyond that of a normal business relationship which i value greatly.
We have been looked after by jack Ross for a number of years. They have given us fantastic tax advise and helped our company grow from strength to strength. A & f
Excellent advice and an understandable explanation of a very complex area of tax and corporate law which other (so called) advisors managed to totally confuse me. Thank you.
I have had a relationship with Jack Ross for several years and continue to be impressed by the proactive support and diligent advice received across the breadth of the firm. Excellent at signposting.
Jack Ross have acted for our law company for over 5 years and have been professional, prompt, and knowledgable in all aspects of our dealing with them.
Additional Features: Xero API and Automation
With Xero API, you can integrate third-party apps to make your expense tracking more efficient. Automation features in Xero can help you streamline the entire process.
Keeping Track of Outstanding Reports
Xero allows you to keep track of all billable expenses that still need to be invoiced. Go to the outstanding report page to get an overview.
Questions? Reach Out to JacRox
If you still have questions about managing billable expenses in Xero, please get in touch with JacRox Accountants using the contact form below. We are partners with Xero and can provide expert solutions to all your expense-tracking needs.
What’s Next? The Benefits of Accurate Billable Expense Tracking
Accurate tracking of billable expenses can help your business in multiple ways:
- Ensures you are not losing money on expenses incurred on behalf of clients.
- Helps maintain a strong cash flow by facilitating timely invoicing.
- It makes tax and audit tasks more straightforward and more transparent.
Summary: Make Xero Your Expense Management Solution
Xero offers a comprehensive solution for managing billable expenses, from assignment to invoicing. By using Xero for your expense tracking, you choose a powerful tool that can adapt to your business needs.
Senior Manager at JacRox, Faisal blends traditional accounting with Xero's digital capabilities.
Latest posts by Faisal Mustafa (see all)
To assign an expense claim to a customer, make sure you are on the Expense Claims page of Xero Central. Then tap the “Action” button next to the user you want to assign the expense claim to and select “Mark as Billable”. You will then see the “Customer” tab, where you can select a customer for your item.
To ensure your billable expenses are correctly accounted for, mark them as ‘Billable’ within the Expense Claims page. Once marked as billable, your customers will get an invoice from Xero, and your books will accurately reflect all costs.
Yes, you can edit invoices generated by billable expenses. Go to the Invoices page of Xero Central and select the invoice created from your billable item. You can then check or copy information, edit dates or descriptions, add more items invoiced or even change which customer was charged.
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Mark Moppet | Managing Director
JacRox is transformational, saving us hours a week in mundane tasks, making life easier.
Duncan Ogilvie | Managing Director
On every occasion we’ve sent an enquiry they’ve been straight back to us with an answer
Paul Mulderrig | Managing Director
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