Set Time & Expenses Preferences in QuickBooks 2014

To turn on time tracking within QuickBooks, go to the Company Preferences tab of the Time & Expenses Preferences dialog box. Enable Do You Track Time? by selecting the Yes radio button.

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You can also use the First Day of Work Week drop-down list to indicate which day should appear first on the Weekly Time Sheet window. (This is what you use to describe billable time for the week.)

You may need to scroll down the list of Preferences to see the Time & Expenses preference settings.

Use the Invoicing Options check boxes to indicate how you want to track reimbursed expenses. For example, to indicate that you sometimes want to base invoices on accumulated time and expenses, select the Create Invoices from a List of Time and Expenses check box.

Furthermore, to indicate that you want to track reimbursed expenses that you bill and then later collect from customers or clients as income, select the Track Reimbursed Expenses As Income check box. The Default Markup Percentage text box lets you specify a default retail markup percentage to use in your pricing (although you should double-check that it’s showing up properly on estimates before you count on it).

The Default Markup Account drop-down list lets you specify which account QuickBooks should use for tracking your markups.

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