What is an expense report template?

An expense report template is a simple spreadsheet where your employees can manually record and organize all of their business expenses made on company cards during a given month, so they can request reimbursement. It’s a key tool to help you streamline month-end close.

A Google Sheets expense report template allows your staff to categorize their credit card expenses in a way that aligns with tax-reporting categories. They’ll just need to gather their receipts, bills and invoices first so they can enter each as a line item.

For instance, our free downloadable template is pre-formatted and pre-populated with all of the components you need to simplify expense management. 

What’s included in this download?

This download includes an easy-to-use expense report template in Google Sheets. It’s perfect for busy small business owners looking for the best expense tracker to keep employee spending in check.

The template includes sections for:

• Expense amount, payment method and date incurred
• Expense category and description
• Name of vendor purchased from
• Name of employee who made the purchase
• Supporting documents like invoice numbers or links to receipts
• Space for additional notes regarding expenses

Why using an expense report template is important

Tracking employee expenses and reimbursement requests is like the business version of eating your greens—it’s a habit that pays off. Keeping tabs on company spending and streamlining the reimbursement process helps you run your business more effectively and plan for growth.

Sixty percent of Canadian SMBs struggle with cash flow and those with poorly integrated tools are twice as likely to report poor visibility into cash flow. Using a free expense report template is an easy way to start seeing more clearly where your money is going each month. This can help you cut unnecessary costs.

An expense report template can also help you set the right prices. Knowing your costs gives you the visibility you need to price your products and services for profit. It also allows you to strategically test pricing strategies like bundles or seasonal deals.

And if you’re looking to grow your business, using a modern expense management process is a must. Clear expense records help you adjust your budget and prepare for future investments. For instance, you might decide to seek a business loan. In this case, you’ll need accurate expense reporting to improve your chances of securing financing—and getting the best interest rate possible.

Even if your sights aren’t set on growth right now, an expense report template can help you stay ready for tax season, ensuring you can claim deductions for office supplies, travel and more. It can also be a lifesaver in the case of an audit.

How your team can use this Google Sheets expense report template 

Step 1: Ensure they’ve gathered all of their receipts, bills and invoices for the month so they can enter them into the template. Pro tip: grabbing some snacks can make this task more enjoyable!

Step 2: Before they begin using the template, make a copy of the Google Sheet so they can customize their expense report.

Step 3: Enter each business expense, including the date, amount, their name, the vendor name, the category and description. Attach links to digital receipts where possible.

Step 4:  When you receive all monthly expense reports from your employees, review your budgeted vs. actual expenses for the month. Identify any overspending or opportunities for savings.

How your team can use this Google Sheets expense report template

Ready to simplify employee expense reporting?

Download your free expense report template today (available in Google Sheets).

Make expense management even easier

Streamline your business spending with automation tools built right into Float.

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