Paybackable

What is Paybackable.com? Why was it created?

Paybackable.com is a very simple-to-use web service that helps you track reimbursable expenses. These can be out of pocket expenses or mileage that you've driven on behalf of a company or client. It's a perfect solution for anyone used to piles of receipts, sticky notes, and spreadsheets.

What does it cost to use Paybackable.com?

Paybackable.com offers pricing plans for firms of all sizes. There's a free plan for individual users and paid plans ranging from $5.95 per month and up.

If I have a company with several employees, can I create a master account and let each of my employees sign up so I can approve their expense reports?

Absolutely. All of the paid plans support the abilily to add employees. All you have to do is enter their email addresses and we take care of the rest. All employees will use the same categories that you set up, which is especially helpful when using a chart of accounts imported from QuickBooks.

How does the QuickBooks import work?

Each expense report create within Paybackable is exported in QuickBooks' IIF format. When you import the IIF file into QuickBooks, a bill is created in QuickBooks, payable to you, with line items for each of the expenses in your report, properly categorized of course. This ensures that your company's accounting is correctly handled.

Is IIF the only way to import expense reports into QuickBooks?

At the present time, yes. However, we are working to better integrate with QuickBooks using the Intuit Developer Network and qbXML. Stay tuned!

Can I use Paybackable if my company doesn't use QuickBooks?

Absolutely. Paybackable was originally written as a replacement for using an Excel spreadsheet. We have support for export to Excel (or any other spreadsheet) using a comma separated format. We also have customers who use it to track reimbursable expenses for clients, which they add to their invoices.

How are the mileage expenses calculated?

Mileage expenses are calculated using the official IRS mileage rates based on the year of the trip that you enter. For 2008, the standard mileage rates for the use of a car (including vans, pickups or panel trucks) is 50.5 cents per mile for business miles driven. Visit the IRS web site for more info. This is up from 48.5 cents in 2007 and 44.5 cents in 2006.

When entering a business trip, simply enter the date of the trip, a description of where you went, who you saw, what you did, etc, and the number of miles driven. The software will display and apply the appropriate IRS rate based on the date you enter.

How does the mileage tracking work with QuickBooks import?

If you read the help documentation in QuickBooks, it mentions that QuicBooks' mileage tracking feature doesn't support reimbursing employees or vendors for mileage. Instead, they suggest creating a bill payable to the employee or vendor. Well, that's exactly what gets created when you export your Paybackable expense reports to QuickBooks.

Under what category do the mileage expenses show up in QuickBooks?

We set the mileage expense category to "Car/Truck Expenses" by default. But, we now have the ability to change that category to anything you wish. Simply go to the Settings tab, click on the "Categories" link, and change the "Mileage Account Name" to the appropriate QuickBooks expense account.