Disbursements, Reimbursements, and Chargebacks Quiz

• Disbursements are invoices that your client mandates you to pay on his behalf.
• Reimbursement of expenses incurred in the course of your assignment must be done to the nearest euro.
• Chargebacks are fees offered by your client that you will pay on your behalf.
• Disbursements and chargebacks are the same practice, but there are important differences.
• Disbursements are not included in your expenses or in your sales, but are recorded in the accounts in account 467.
• Chargebacks are fees offered by your client that you will pay on your behalf.
• You will be able to deduct expenses incurred in the course of your assignment as an expense, but you will have to charge a flat fee at the same time.
• Both the expense and the reimbursement are subject to VAT: you will therefore recover it on your purchase and invoice it on the package offered to your client.

Test your knowledge of disbursements, chargebacks, and reimbursements with this quiz. Understand the important differences between these practices and learn about their impact on accounting and VAT.