30 Sep How to Make An Expense Report Template : Step-by-Step
Expense report template are a necessary part of any job, especially when you’re an employee. Whether you work for a small or large company or even as a freelancer, your employer will expect you to keep track of your mileage and document your business expenses at the end of each month. This is where an expensed report comes in handy. An expense report records all the personal money you spend on business-related activities throughout the month. It’s easy to get confused about how to make an expense report with so many different examples out there on the internet. Here’s everything you need to know about creating an expense report from home and uploading it to your human resources department.
A step-by-step guide to making an expense report template
Understanding the reporting process is your first step toward creating an excellent expense report. There are two main types of accounts: an account-based approach and an itemized approach. The account-based system is the simplest reporting form, but this method may not provide enough information to prove that you incurred the expenses in question. An itemized approach is more detailed but can take longer to complete. Most employers prefer the itemized approach. The next step is to create an expense report template. For example, you can use Excel to record your mileage and Microsoft Word to record your meals and other expenses. If you prefer to use your computer, you can use a spreadsheet application, like Excel, Google Sheets, or Numbers, to track your mileage and other expenses. Or, you can use an app like TripLog to track your mileage, create an expense report, and save it as a PDF file. Using an app, you can track and report your expenses and upload them to your HR department at the end of each month.
Which platform should you use to make an expense report?
Whether you are using an online or offline tool to create an expense report, you must be consistent with your choice. Your employer or HR representative should be able to access all your accounts online so they can review them at their convenience. The most convenient way is to use an online tool or a cloud-based platform to create your report. This means your information will be accessible from any device—no matter where you are or your internet connection, you will still be able to access your reports.
Track your mileage
Before you can calculate your mileage, you’ll need to track it. You can use a mileage tracking app for this. You can find several apps for both Android and iOS. If your company requires you to track your miles, then you will need to keep track of the number of miles you drive daily. This can be done with the help of a mileage tracking app. Many apps will also calculate your gas mileage, so you don’t have to.
Record your business meals and events
For every business meal you attend, record the restaurant’s name and address, the event’s date and time, and the number of people at your party. You may be required to register the date, time, location, and the number of people present for business events. It would be best if you also recorded the name of the person who invited you to the event. You can use the same app or spreadsheet to record your food and event expenses.
Record time with the help of the time tracker app
If you work, you may not be able to track the hours you work in person. In this case, you will need to track your time. You can use a time-tracking app for this. If your company requires you to track your time, you will need to note down the start and end times for each task you work on. You should keep track of your work hours for each day of the week and keep a record of your work hours for the entire month.
Record your office supplies
Office supplies are the daily necessities you use in the office—things like paper, pens, post-its, and other items you may keep on your desk; for every object your buy, note down the item name, quantity, and price. You can also include the date you purchased the item and its expected end date. It’s also a good idea to keep track of the store where you bought the items.
Record your travel expenses
For every trip, you take, record the start and end dates, the amount of money you spend on the trip, and the purpose of the trip. You may also be required to register the name and address of the place where you stayed during the trip and the date of your return. It would be best if you also recorded the terms of the people you traveled with during the journey.
A good expense report is an essential part of any job. But, many people struggle to know how to make an expense report. This article has provided a step-by-step guide to creating an expense report. You can create an excellent expense report by following the tips in this article.