Now that we’ve covered the basics of what an expense spreadsheet is and why you should use one, let’s take a look at a few examples of how you might use them. Spotting these “red flags” early makes it possible to identify and investigate fraudulent or unauthorized spending. For example, if you usually spend $100 per month on office supplies but suddenly spend $500 the next month, an expense spreadsheet makes it easier to see this change. Tracking your expenses can help you spot unusual changes. It’s easier to spot unusual or fraudulent expenses An Excel spreadsheet coupled with a powerful Work OS like, allows you to quickly and easily create an expense report that’s ready to submit to your boss or accounting department in less time. You can also save money by automating the expense reporting process. This lets you focus on your financial goals instead of crunching numbers. When you have a standardized spreadsheet for tracking expenses, you can save time by using built-in formulas to calculate totals and averages. With an Excel spreadsheet, you can standardize your expense tracking process to save and view all of your expenses in the same location. They’re going to run into expense reporting problems sooner or later. Suppose George from sales jots down his expenses on diner napkins and Betty from HR plugs expenses in a Notepad file on her computer. You can visualize expense tracking in one place With accurate expense data in front of you, it’s much easier to make informed decisions about your business. You might analyze your existing expenses and compare that against product estimates from foodservice wholesalers. And having expense information distilled into an easy-to-follow spreadsheet is a critical step.įor example, let’s say you own a bakery and you’re trying to make a decision about whether shopping locally for your ingredients is saving you money. Knowing more about your business’ expenses lets you make better financial decisions. Let’s take a look at some of the key benefits of using a Microsoft Excel spreadsheet for your business expenses. And while it may seem tedious to track every penny, the benefits are worth it.ĭownload Excel template Why use an Excel spreadsheet for business expenses? In short, these spreadsheets help you understand how you spend money. formulas that automatically calculate expenses.columns specifying the date, vendor, expense description, amount, unit costs, method of payment, and other relevant data or notes, and.A monthly expense spreadsheet provides an overview of your total monthly spending.ĭespite the variety of expense tracking spreadsheets, most of them have common features, including: For example, a travel expense spreadsheet tracks travel-related expenses, like lodging and meals. Some of these spreadsheets track specific company expenses, while others provide a simple, high-level summary of your expense history. Specifically, it details the “what,” “why,” “who,” and “how” of spending company money, so for example: Get the template What is an Excel spreadsheet for business expenses?Ī spreadsheet for business expenses is a standardized template that tracks and records a company’s expenses. After that, we’ll review our own Excel spreadsheet for business expenses and show you how can help take the headache out of managing your company finances. First, we’ll dive into a few examples of expense tracking templates and highlight the major reasons why you need one. In this article, we’ll look at the business expenses spreadsheet. But unless you’re a bigger company with an entire accounting department on hand, you might not have a ready-to-go template for this. An Excel spreadsheet for tracking business expenses can keep your finances in order.
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