Expense report template

What is an expense report template?

An expense report contains a categorized and itemized list of expenses that were made on behalf of the organization. This report helps the employer or finance team determine what money was spent, what was purchased, and how much of the expenditure is approved for reimbursement.

What information should an expense report template include?

‍Our meticulously crafted expense report template encapsulates a comprehensive array of essential information:

1. Expense Details: A comprehensive list of expenses incurred, categorized for easy reference.
2. Date and Time: Timestamps for each expense, ensuring accuracy in tracking spending.
3. Vendor Information: Contact details of vendors or service providers for streamlined communication.
4. Description: A clear and concise explanation of each expense item for contextual clarity.
5. Amount: The cost associated with each expense, aiding in accurate calculation and analysis.
6. Payment Method: Indicates how the expense was paid, whether through cash, card, or other means.
7. Project or Purpose: Associating expenses with specific projects or purposes for better cost attribution.

How to use a business expense template

1. Enter the company name in cell B3.    

2. Enter your name  in cell C5.    

3. Enter your  department name in cell C6.    

4. Enter your  manager's name in cell C7.    

5. Enter the  purpose of the expense report in cell F8.  

6. Enter the  company approved mileage reimbursement rate in cell H5.    

7. Enter the  company approved per diem rate in cell H6.    

8. The Start and  End Date will automatically fill in as the expense report detail is entered.    

9. The expense  report total in cell F3 will automatically calculate as the expense report  detail is entered.    

10. Started in cell B12 enter the date, type of reimbursement  (select from the drop down), amount, vendor, and description for each  reimbursement. The total in column E will automatically calculate based on  the type of reimbursement (Column C) and amount (Column D).        

11. Once the  expense report is completed, print the sheet as a PDF and send to manager for  approval.    

12. The manager  will sign and evidence approval of the expense report in cell C9.    

13. Once approved  by the manager, submit the PDF to finance for reimbursement.

Automate business expense reports with expense management software

Ready to move beyond expense reports? Expense management software can provide easy, automated solutions without requiring forms, tracking receipts, or waiting for expense report information. Smart software can automate your processes, saving your finance team time and resources—and you’ll never need to use a monthly expense report template again.

Download this template for additional instructions.

FAQs

What is an expense report template used for?

This free expense report template allows you to track business spending. It’s typically filled out by employees requesting reimbursements. The form must contain an itemized detail of expenses including the purpose, place, and date to meet reporting purpose requirements. The employer can then record the reimbursed amounts as a business expense.

Why should businesses use an expense report template?

Businesses thrive on meticulous financial management. Our expense report template empowers companies to monitor, analyze, and optimize their spending patterns. By utilizing this template, businesses can exercise better control over their budgets, identify cost-saving opportunities, and ensure accurate reimbursement processes.

Who can benefit from an expense report?

‍Our expense report template is a valuable asset for professionals across the board – from dedicated entrepreneurs and business owners to diligent employees and freelancers. Anyone seeking to maintain a clear record of expenses and maximize financial efficiency can leverage this template to their advantage.

‍