Reimbursement of expenses paid by an employee on behalf of the company.The employer reimburses the expenses to the employees.īeing a business owner, it is necessary to ensure that the expenses are as per the company policy. For proper recording of expenses, an employee prepares an expense report. Usually, companies keep it mandatory for the employees to attach the receipts. Generally, businesses allow their employees to spend money to enhance their business. Date of the actual occurrence of the expenses.Employee details along with Employee ID, department, and the reporting authority.Purpose of expenses such as meeting a client, survey of the market, procurement of goods, purchase of machinery, etc.Here are common elements of an expense report: Elements of an Expense ReportĬomponents of an expense report might vary from business to business. After approval, the employer pays to the employee if the claim is in line with guidelines and reimbursement policies. An employee must attach the receipts of expenses along with the report.įurthermore, the authorized personnel examines the expense report for accuracy and validity. The employee submits the expense report for approval. It provides a quick track of expenses and relevant documentation.Īn employee prepares the expense report against the actual spending made by him/her for the business. An expense report is a reimbursement form that a company uses to track its business spending. It helps you to keep track of business expenses for an employee’s business trip, a particular department, or any project for a company.

Free home expense report template