Free Small Business Expense Report Templates

expense report

View more free Microsoft Excel expense tracking templates to use for all of your budgeting needs. During the final step, you’ll be reimbursed for any qualifying expenses you’ve incurred. This completes the reporting expense report process—until you incur new expenses and begin the process again. Reimbursable expenses can include business-related travel or meals purchased when entertaining clients, for example, among other things.

expense report

Easily customize the spreadsheet by adding your company information and other details, then share the file with your employees. Although filing expense reports will get you part way there, staying on top of your business expenses is a year-long struggle. Account for every expenditure with this comprehensive, easy-to-use expense tracker template. For each expense, simply enter the date and method of payment, who the expense was paid to, a brief description, and the amount paid. The Subtotal column keeps a running tally of your expenses as you enter line items so you can track your expenses at a glance. This template is an excellent way to streamline receipt tracking and to ensure quick reimbursement.

Use one of the templates available online

Closely read back through your to make sure there are no discrepancies. Write down all accounts payable, including all of your business’s expenses. Discover a better way to connect your people, processes, and tools with one simple, easy-to-use platform that empowers your team to get more done, faster.

expense report

You can adjust this completely customizable template to create different expense categories and get reimbursements for every business-related expense quickly. Sales people, consultants, or client-facing employees may incur personal expenses for meals, mileage, software subscriptions, and many other elements critical to executing their job. Submitting detailed and substantiated expense reports is crucial for these roles so that these employees are supported by the company and reimbursed for their efforts.

Formal Business Expense Report Template

Thanks to FreshBooks Expense Tracker, tracking your business’s expenses has never been easier. FreshBooks online software allows you to create expense reports on the fly. In small businesses, expense reports are used for tracking expenses when employees pay out-of-pocket for business expenses. Typically, employees create expense reports in Word, Excel, PDF, or in specific accounting software that the company is using. It’s critical for small business owners to accurately track expenses, and using a template can simplify the process.

  • You can add this feature to your expense report template, if you like, so you can better see how you’re spending in each category.
  • Different businesses include different things in their expense reports.
  • Additionally, you won’t have to deal with the reimbursement procedures.
  • Importantly, these reports must be submitted no later than 60 days after the expense was incurred, according to the IRS.
  • It’s the best answer for small business owners who want to move into automated bookkeeping without paying through the nose.

In other cases, it may be submitted on time but there is information that are marked as “to follow” without any relevant explanation as to why it is not included in the initial expense report. The time it takes to complete an expense report can vary widely depending on your company’s methods. This report generates expenses according to tax category, like rent (we’ll cover this below).

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