Expenses are often categorized, such as mileage, meals, hotel costs, or employee training. Typically, an expense report includes a comprehensive list of expenses, with each item accompanied by a corresponding description. It can range from a simple form to a more detailed document. Regularly collecting expense reports from employees, whether on a weekly or monthly basis, serves as a safeguard against budgeting inaccuracies and helps ensure responsible use of funds.Īn expense report can vary in length and complexity depending on your business requirements. Requiring receipts for all listed expenses on a report is essential to minimize errors and facilitate tax filing and audits for businesses. Maintaining these reports is crucial for budgeting and tax purposes. This report includes details about each expense and acts as an organized record for reimbursement or accounting purposes.Īn expense report can be used in various scenarios, such as tracking mileage and gas expenses during work-related travel, documenting client meetings that involve meals or entertainment, or recording office supply purchases made by employees. Getting started with the Smartsheet APIĪn expense report is a document used to track business-related expenses, such as transportation, food, lodging, and conference fees.ENGAGE Smartsheet ENGAGE brings together our global customers, experts, and partners to share their experiences, ideas, and best practices.Smartsheet events Your hub for Smartsheet events, webinars, Q&As, and user groups.Partners Learn about the Smartsheet partner program and access our partner directory.Community Explore user-generated content and stay updated on our latest product features.Help and Learning A comprehensive knowledge base, including articles, tutorials, videos, and other resources that cover a range of topics related to using Smartsheet.Content Center Articles and guides about project management, collaboration, automation, and other topics to help you make the most of the Smartsheet platform.Monthly or Weekly Tracking: View total costs and expenditures by week, month, or year.Authorized By: Enter the name of the authorizing employee for any expenses incurred.
Purpose of Expense: Beyond categorizing expenses, it can also be helpful to track the purpose of each expenditure.Expense Category: Organize your costs into typical categories, such as rent, taxes, utilities, legal, marketing, payroll, and inventory.Description: Add descriptions of costs and expenses for more detailed accounting.Date: Enter the date of the expenditure.Manager: Enter the name of the manager responsible for the employee incurring expenses.Enter department details to assign expenses correctly. Department: Many businesses have separate budgets for each department.Statement: Organize expense reports with a statement number to allow for easy cross-referencing and document retrieval.Employee ID: Use employee identification numbers as an alternate way to track expenses.Name: Track expenses by employee or group name.Track costs and expenses on a weekly, monthly, or yearly basis, in as much detail as is required for your business.Ī small business expense tracking template typically includes the following features, many of which you can customize: Customize the categories in the templates on this page to fine-tune your tracking to meet your exact financial needs. It’s critical for small business owners to accurately track expenses, and using a template can simplify the process. A template can help you track all expenses for clear, organized accounting. You can add cost, administrative expenses, vendor payments, reimbursable employee costs, and more. Getting started with the Smartsheet APIĪ small business expense report template is a tool to track daily or weekly expenses.