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Expense report template

Download expense report template for free

Get started creating your small business expense report with helpful tools from FreshBooks. Download a free expense report template and customize it to your business, or try FreshBooks for free for comprehensive expense tracking, invoicing, and reporting tools.

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What is an expense report?

An expense report is a comprehensive document that tracks your company’s spending for a given time period. Within the report, expenses are sorted into different categories to keep track of employee business expenses, company purchases, and other costs.

Expense reports are essential for organizing and tracking business spending. When employees and other members of the company go on business trips or make purchases on behalf of the business, spending is tracked on the expense report. This record is then used to reimburse employees for travel expenses and other business-related spending.

A detailed monthly expense report is helpful for creating a corporate budget and managing financial record-keeping. It’s also important at tax time, when you can use the expense report to organize your business expenses and claim the relevant business tax deductions.

How do I create an expense report?

To create an income statement, you’ll need to:

1

Download a report template

Download a free expense report template or use a reporting software like FreshBooks to save time on your expense report calculations.

2

Customize your columns

Most expense report templates come with columns for expense date, name, client, amount, and other details. Customize your columns to suit your business needs.

3

Fill in expenses

Add the details for any other expenses incurred during the accounting period. Generally, expense reports are filed chronologically, with the most recent expense at the end.

4

Calculate totals

Calculate the subtotals and totals of each expense category, including taxes. Expense reporting software can automate this process.

5

Include documentation and receipts

Attach any invoices or receipts to your expense report. This is necessary for all employee spending and is recommended for business owners and any other company members.

6

Share your report

Review your expense report, confirm that all expenses have the required documentation, and share the report with your accountant and anyone else who needs access.

Download expense report template

A free basic expense report template is a straightforward way to track expenses and simplify your entire expense reporting process. You can download the template and customize the columns to suit your business needs, making it easy to organize all your expenses. Choose from PDF or spreadsheet formats to suit your accounting system.

Download expense report template for free

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Expense report format

Expense reports include the following major categories:

1

Company details

These include your company’s name, address, and contact information, as well as the information of the business owner or employee creating the expense report.

2

Accounting information

Include the number and details of the financial account(s) associated with the expense. This section may also include information on the relevant client file.

3

Expense details

Add the date, name, and amount of the purchase. You’ll also include who purchased the item or service, a receipt for the purchase, and any relevant notes.

4

Totals and notes

Ensure each expense category column displays both subtotals and grand totals. Separate totals should be provided for amounts before and after taxes. For enhanced record-keeping, a notes column can be added to provide further details about each expense.

Additional accounting templates

Business owners depend on the outstanding templates from FreshBooks because they’re easy to use and simple to customize to their needs. Download the P&L report template in seconds, free of charge, in either spreadsheet or PDF format, and start using it to grow your business right away.

Profit and loss statement template

Use our profit and loss statement template for a summary of all the revenues and expenses over a specific amount of time, showing business profitability within that period.

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Expense report template vs FreshBooks accounting software

FreshBooks accounting software offers everything you get in a downloadable template, plus a wide array of other helpful features. In addition to a customizable template, you can automate recurring expenses and instantly perform calculations for quicker, more accurate expense reporting.

While a free template is good for creating your first expense report, accounting software is the best fit for tracking ongoing expenses, reimbursing employees, and managing your business finances.

Compare the free expense report template and FreshBooks accounting software to find the right fit for your business needs.

Features

Expense report template

FreshBooks accounting software

Mobile access

Yes
Yes

Pre-designed templates

Yes
Yes

Downloadable templates

Yes
Yes

Automated data entry

NoManual Entry
Yes

Automated calculations

NoManual formula creation
Yes

Reduced error risk

No
Yes

Cloud data storage

NoLimited
Yes

Automatic report generation

No
Yes

Scalability

NoDifficult
Yes

Automatic recurring reports

No
Yes

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Helpful resources for your business

The FreshBooks small business resource hub delivers a wide array of helpful articles on expense reports, invoicing, and other information for running a small business. Discover free templates for a variety of financial reports to support you as you grow your business.

Frequently Asked Questions