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7 Things for Small Business to Include in Expense Reports

Dec 6, 2021 9:59:00 AM Kathy Dise QuickBooks, Nonprofit, For Accountants, Bookkeeping

expense report checklist

To fully understand where your business stands financially, it's important to fill out expense reports. It will provide insight into your business' spending and cash flow, as well as can help you calculate profits, expenses and reimbursements. But to figure this out, what do you actually need in an expense report? To save you and your bookkeeper time, incorporate the following seven features into your expense report.

1. An easy to fill out excel spreadsheet

2. Basic information

Including the date prepared, date approved, employee name and the period the report covers

3. Drop down boxes for Account and Class to be charged in QB

4. Auto Total

5. Method to capture Company Credit Card Purchases and Advances

Reduce the amount to be reimbursed

6. Automatic Mileage calculator

7. Space to total Accounts to be charged in QBs

Proof that Report totals correctly


Consider requiring a specified time frame to have the report submitted--for example by the 15th and 30th of every month or better yet, at the end of every week.  We’ve found that the more often the reports are required to be done, the easier it is for employees to complete the report and the more accurate the information is. Keep in mind that your financial information, Profit & Loss, is not correct until all expenses are recorded so make efficient expense reporting part of your culture.

Download our excel       Expense Report Template

Kathy Dise

Written by Kathy Dise

Kathy has over 30 years experience helping small businesses succeed. As a commercial lender, commercialization expert and now as a QuickBooks diamond level advisor, Kathy understands the challenges small business owners face. Her experience helps business owners quickly accomplish their financial goals. As the owner of BudgetEase, Kathy works with clients to develop a plan to efficiently process 1,000s of small transactions so owners can make informed decisions. She lives in Shaker Heights, OH with her husband Ralph and enjoys golf, curling and walking in Cleveland’s fabulous Metro Parks.