In order to directly export Pleo expenses to your accounting system, you already have one account number set up. With Reimbursements we introduce 2 more accounts:
The account for out-of-pocket expenses. This is the account that will represent the balance between the company and all its employees.
The contra account for reimbursements. This is a temporary account number for reimbursements and cash returns that we assign by default.
Step 1: create the Reimbursements accounts
In the Pleo web app, go to your Accounting settings
Find the Reimbursements setup banner
Follow the steps and input the numbers of the accounts
If you are using an integration to Xero or Quickbooks: the setting up is easy as when you enable it - the Reimbursements accounts are created automatically
If you are using any of the CSV formats, you will need to hop into your chart of accounts and create the two new accounts.
Step 2: Export out-of-pocket transactions and reimbursements
There are two type of entries to be aware of with Reimbursements. First the actual expense will be categorised like your other expenses. Instead of spending from the Wallet Account, it will spend from the account for out-of-pocket expenses. Here is an example from the view in Xero:
The second one is the reimbursement to the employee. You will be able to export this reimbursement as a transaction from your Reimbursement account to your account for out-of-pocket expenses. Below you can see what the flow looks like.
To export the reimbursement to your accounting system:
Click on Export
Select the reimbursement transaction you wish to export
Add it to the Export Queue
Go to your Export Queue (in the top middle) and click on Export
You have now exported this transaction. It will show up as a positive balance on your Pleo account for out-of-pocket expenses and you can match it with the actual reimbursement (bank transfer, payroll or cash handout) that was made.
Step 3: Balancing your books with Reimbursements
If your employee reported an out-of-pocket expense late
Sometimes your employees might add mileage or out-of-pocket expenses from three months ago and you might have closed that month already. You can easily edit the purchase date with out-of-pocket expenses. When changing the purchase date:
The expense will move under the new purchase date in the Export -page after refreshing and
The expense will be reported under the new purchase date
The employee balance report will use the new date
The Activity feed of the expense will make a mark of the change