An Expense Report is a financial statement that records expenses incurred during the various business operations. This document is traditionally used by small companies that ask their employees to itemize expenses for purchases related to their jobs - gas, meals, travel and hotel expenses - and later reimburse them in accordance with the procedure established by company guidelines. These expenses are usually made with the intention to enter into a transaction with another business or person so that the company develops and earns more money.
In times of financial challenges, a Monthly Expense Report submitted by an employee who spent their money for the benefit of the company helps to figure out which costs can be eliminated and as a result, the entity does not suffer massive financial losses. The designated employee checks the report, reviews its accuracy, and provides the individual who filled out this document with reimbursement. It ensures the employer and employee complied with the internal rules of the organization and tax laws that stipulate the deductibility of expenses sustained by employees.
You can download a fillable Expense Report template below.
Use one of our templates to document construction project costs, wedding planning expenses, or track your household expenses and discover which expenditures can be avoided and, in this way, your savings may increase.