Many companies track business expenses to support financial information on quarterly or annual expense reports. Individuals also use these reports to claim business-related expenses and receive financial reimbursement. Learning about different types of expense reports can help you determine which report is ideal for you or your company’s use. In this article, we discuss what expense reports are, review eight types of expense report templates you can use in Excel and explore some tips to help you choose the right template.
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What is an expense report?
An expense report tracks a variety of business expenses that individuals or departments might incur. This helps a company’s finance team track and reimburse business expenses. Finance or accounting professionals also use expense reports to support the numbers reported in financial statements, such as:
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Balance sheet
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Income statement
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Cash flow statement
8 types of expense report templates for Excel
Review these eight different types of expense report templates to help you determine which Excel template is right for you and your company:
1. Basic expense report
A basic expense report is useful due to its simplicity and customizable options. This type of report is ideal for small to medium-sized companies because it includes essential expense report information, and finance professionals can adjust this report to fit a variety of company needs. Items accounted for in this template include:
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Date of payment
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Payment method
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Who the payment was for
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Expense description
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Expense amount
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Subtotal of listed expenses
To upload the template into Google Sheets or Excel, go to File > Open > and select the correct downloaded file.
2. Project expense report
This type of report can help a company or project manager track project-related expenses. This helps project managers remain within established project costs and reconcile all expenses. Many companies also specify the requirement for maintaining receipts to support expense claims. Some items commonly claimed in this type of report include airfare, travel, lodging or venue costs. Common items added in this template include:
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Project name
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Expense period
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Personal information
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Date of payment
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Expense description
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Expense amount
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Expense categories
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Notes
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Subtotal information
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Financial advances
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Total expense information
3. Travel expense report
A travel expense report helps professionals track and claim any business travel-related expenses. This template is useful for any business professional who frequently travels for work functions. Using this template can help you organize your lodging, meal, transport and mileage expenses, which can help finance professionals quickly review and reimburse these charges. Common information in this template includes:
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Company information
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Personal information
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Travel purpose
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Per diem and travel rates
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Date of payment
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Expense description
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Sorted expense amounts
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Subtotal information
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Sorted expense subtotal
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Expense report total
4. Contractor expense report
Some companies use third-party contractors to complete construction or other projects for their company. Using a contractor expense report can help a company track third-party-related expenses, reimburse charges and accurately compensate contractors. This can also help project managers organize and track charges for different projects. Some information accounted for in this report includes:
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Date of submitted claim
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Contractor company information
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Contractor name
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Expense period
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Date of expense
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Expense description
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Expense amount, including taxes
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Value-added tax (VAT) amount
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Expense report total information
5. Event budget and expense report
This type of template can help you track all event-related expenses. Professionals who might benefit from using this template include event planners, project coordinators, event assistants, venue managers or other professionals who plan company events. This can also help professionals keep the event aligned with established budgets and timelines. Large companies might also benefit from this type of template because of the detailed expense categories. Some common information in this report includes:
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Event venue details
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Decoration details
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Publicity details
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Refreshment details
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Miscellaneous details
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Expense estimates
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Actual expenses
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Category subtotals
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Event estimated expense
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Actual event total
6. Mileage log and expense report
Using this type of expense report can help employees track their mileage if they travel for work using their vehicle. This can help a company save on vehicle maintenance expenses or other travel-type expenses. Professionals who often use their vehicles for business-related functions include traveling sales professionals, plant managers, executive assistants or project managers. Information typically input in this report includes:
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Employee information
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Vehicle information
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Mileage rate
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Travel period
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Travel dates
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Starting location
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Destination
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Travel purpose
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Starting vehicle mileage
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Ending vehicle mileage
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Subtotal mileage information
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Subtotal rate information
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Total travel mileage for the period
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Total travel reimbursement for the period
7. Timed expense report
Business professionals typically complete timed expense reports on a weekly, monthly, quarterly or annual cycle. This report often includes separate sections for expenses paid by the employee and expenses paid using a company credit card. Some companies track these expenses weekly and monthly to prevent accounting errors and improve the accuracy of quarterly or annual financial statements. Common items covered in this template include:
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Employee information
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Manager information
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Expense purpose
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Expense period
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Detailed expense information paid by the employee
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Detailed expense information paid by company credit card
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Subtotal information
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Itemized business expenses
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Total reimbursement amount
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Employee signature line
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Authorizing official signature line
8. Expense reimbursement form
This type of form enables employees to claim general business expenses for reimbursement. Using this form is useful for individuals who rarely complete these types of forms. Many companies also add a reminder to include receipts to support expense claims. Common items added in this form include:
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Employee information
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Expense period
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Manager information
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Expense purpose
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Itemized expenses
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Employee signature line
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Total reimbursement information
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Approval of official signature line
Tips for choosing an expense report template in Excel
Understanding how to select the right expense report template can help you quickly account for business expenses and receive reimbursement for those charges. Review these tips to help you choose the ideal template for reimbursement:
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Determine expense type. Reviewing the purpose of the expense can help you determine if it is a general, travel, event or contractor-related charge.
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Consult the finance team. Collaborating with the finance or accounting team can help you easily determine which expense report type they prefer.
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Review previous expense reports. Examining other expense reports can help you identify which report is right for you and help you accurately complete your expense report with the correct information.
I hope you find this article helpful.
