What's the best way to track reimbursed job expenses in MS Money?

Question

I track my checking account and my American Express account with Microsoft Money. I put all of my job expenses on my Amex card and as the charges come in to Money I categorize them as "Reimbursed Job Expense". Then I get a reimbursement check from my employer and categorize that also as Reimbursed Job Expense. That is awkward right there because it isn't an expense, but its the only way I've found to stop Money from wanting to treat it as income. At that point when I pay the Amex card, I can't mark that payment Reimbursed Job Expense because that would make it look like my expenses are doubled. So I guess I need to mark the payment as an account transfer? Is this how you would do it?

Answer 1

Create an asset accpunt called Expense Reimbursements and record transfers (reimbursement related purchases) from credit card and checking to this asset account.

You can also add cash entries such as cash tips and etc to this asset journal.

Then when you get the reimbursement. Record a transfer from the asset account to your checking or savings account (which ever you deposit the check into)

As all of these are transfers, it should not show up on your income statement and this is correct. Net-net everything is zero when it comes to reimbursements.
Voila!