Tracking expenses is vital for both personal & professional use and expense report templates can help you to perform these tasks in a professional and easy way. An expense can be defined as an outflow of cash from a business establishment or home for the fulfillment of various personal and professional needs.
Expense reports are often prepared to track all the expenses made by an individual person, company, or business establishment in a particular period of time. In a business setting, carefully made expense reports play a vital role in making financial reports as well as identifying exact figures or profits generated or losses incurred.
Purpose of an Expense Report Template
There can be a lot of reasons and objectives behind making expense reports in various fields of life. For example, an employee of the company may prepare an expense report to get reimbursement of expenses from the business management made in a particular period of time. On the other hand, expense reports are also prepared to track the money spending of the company for record-keeping purposes. Rent payment is an expense for the tenant and he or she can make a rent expense report to get reimbursement of the accommodation allowance or expense from the company or business in which he or she is working.
There are several types of expense reports such as travel expense reports, personal expense reports, office expense reports, food expense reports, stationary expense reports, etc. These all expense reports can be prepared on a daily, weekly, monthly, or yearly basis. Not only in the business field but we can also use expense reports to track our personal money spending such as rental payment expenses, gas expenses, food expenses, other domestic expenses, etc. Below you can find free expense report templates that you can use when it comes to making an expense report either for personal or professional use. Some of these templates are in Microsoft Excel format and some of them are in Microsoft Word format.