I’ve been reading through the articles on the knowlege base about rebilling expenses to the client. I apologize in advance if this is a stupid question (I’m definitely not an accountant and new to this. ).
I’ve purchased a number of items for a client (no markup) and been able to create an invoice for the client using the ‘Rebilling Expenses’ process described.
It is computer equipment, so considered an asset. Is there anything else I need to do in addition to invoicing the client to remove the items from our ‘records’ so that they are no longer considered company assets? Or does something in the background of the ‘rebilling expenses’ process do this automatically?