Expense Report Template in Excel: How to Download?

Managing expenses is one of the biggest challenges most businesses face.

Whether a small startup or an enterprise-scale company, keeping track of your expenses and minimizing costs is crucial for your financial success.

Luckily, there are several smart ways to manage your expenses. One of the most effective is by using expense report templates.

Expense reports can be a game-changer if your goal is to save money and streamline financial processes. By using tried-and-true expense report templates, you can gain insights into what works and what doesn’t.

Table of Contents:

1. What is an Expense Report Template?
2. Purpose of an Expense Report Template?
3. What to Include in an Expense Report Template?
4. Types of Expense Report Templates?
5. Best Expense Report Examples
6. How to Create an Expense Report in Excel?
7. FAQs:
8. Wrap Up

What is an Expense Report Template?

An expense report template is a pre-designed form. It helps you track and document business expenses. This tool is crucial for businesses of all sizes.

Expense report templates are structured. They make it easy to record details of every expense. Everything is captured neatly, whether it’s a meal, a flight, or office supplies.

Using an expense report template saves time. Instead of creating a new report every time, you use the same form. This ensures consistency and accuracy in your records.

You can use various tools like spreadsheets, software, or mobile apps to make expense report examples.

You have an option of providing your team with expense report templates to ensure consistency and accuracy in reporting.

Purpose of an Expense Report Template?

Expense report templates have a clear purpose. They help manage and control business spending. Knowing where your money goes is key to maintaining a healthy budget.

Clear and accurate record

The key goal of an expense report template is to provide you with a clear and accurate record of all expenses incurred during a specific period.

More so, it serves as a means of tracking expenses and ensuring they remain within the budget. Maintaining an expense report can identify areas where you may be overspending and cut costs.

Transparency

Expense reports template can help you maintain transparency and accountability in your financial processes.

By keeping a detailed record of all expenses, you demonstrate accountability to stakeholders, such as investors, shareholders, etc.

Claim reimbursement for expenses incurred

Expense reports template can help you to claim reimbursement for expenses incurred.

Your team can claim reimbursement for expenses such as travel, meals, and accommodations by submitting an expense report example. This ensures that you reimburse your employees fairly and in a timely manner.

Identify tax-deductible expenses

Expense report template can help you identify tax-deductible expenses.

By keeping a record of all expenses, you can identify expenses that can be deducted from your taxable income, thus reducing tax liability.

In the coming section, we’ll take you through the best examples of expense reports.

What to Include in an Expense Report Template?

An effective expense report template includes several key elements. First, it should have a section for personal details. This consists of the employee’s name, department, and contact information.

Next, there should be a detailed expense section. Each expense needs a date, description, category, and amount. This information helps in understanding and categorizing the spending.

Finally, include a total section. This part sums up all the expenses. It might also include spaces for signatures or approvals, ensuring the report is verified and authorized.

Types of Expense Report Templates?

Expense report templates come in different types. The most common type is the travel expense report. This template tracks costs related to business travel, like flights, hotels, and meals.

Another type is the project expense report. This is used to monitor expenses for specific projects. It helps in keeping project costs within budget and ensures accurate billing.

Lastly, there are general business expense reports. These templates cover a wide range of business expenses. They are flexible and can be adapted to various needs, making them useful for many different situations.

Best Expense Report Examples

Check out game-changing expense report examples below.

1. 1. • Example #1: Expense Report for Sankey Chart

A Sankey chart is a powerful chart you can use to show the flow of expenses in a system, highlighting the most significant expenditures and identifying areas for cost-cutting.

In an expense report example context, a Sankey Chart can help you understand your expense breakdown by showing different cost categories such as travel, meals, etc.

By visualizing this data in a Sankey Chart, you can quickly identify areas where you may be overspending and cut costs.

Sankey Charts can help you identify patterns in spending.

For instance, you may notice you’re spending more on travel expenses than other categories.

By identifying these patterns, you can reduce costs in specific areas and optimize your expense management processes.

Check out the tabular data below.

Can you provide concrete insights into the data below?

Total Cost	Company Type	Company Name	Expertise Categories	Expertise	Cost
Total Cost	Subcontractor	Skyline Contractors	Mechanical Installation	Plumbing & Heating	15456
Total Cost	Subcontractor	Skyline Contractors	Mechanical Installation	Mechanical Work	10159
Total Cost	Subcontractor	Onyx General Contractors	Mechanical Installation	Plumbing & Heating	18045
Total Cost	Subcontractor	Onyx General Contractors	Mechanical Installation	Mechanical Work	12695
Total Cost	Subcontractor	Living Well Remodeling	Mechanical Installation	Plumbing & Heating	14589
Total Cost	Subcontractor	Living Well Remodeling	Mechanical Installation	Welding	11456
Total Cost	Supplier	Power-up Builders	Raw Material	Cement	20561
Total Cost	Supplier	Power-up Builders	Raw Material	Steel	32456
Total Cost	Supplier	Five-star Construction	Raw Material	Bricks	10253
Total Cost	Supplier	Five-star Construction	Raw Material	Timber	9000

Note the difference after using a Sankey Chart to visualize the data below.

1. 1. • Example #2: Expense Report for Sentiment Trend Chart

A Sentiment Trend Chart can help you identify trends in your team’s sentiment toward expense reporting.

This type of chart is particularly useful in identifying areas where your team may be struggling with expense reporting, such as finding the process too complicated.

The chart can be created by analyzing your team’s feedback about expense reporting, such as through surveys.

By plotting this data over time, you can identify trends in your team’s sentiment toward expense reporting.

Check out the tabular data (with credit and debit data) below.

Can you provide concrete insights into the data?

Months	Credit Amount	Debit Amount
Jan	3,220,000	1,590,000
Feb	3,730,000	1,800,000
Mar	2,850,000	2,650,000
Apr	3,380,000	1,700,000
May	3,380,000	1,600,000
Jun	3,490,000	1,990,000
Jul	3,510,000	1,450,000
Aug	3,080,000	2,420,000
Sep	3,290,000	1,040,000
Oct	2,850,000	1,050,000
Nov	2,910,000	2,310,000
Dec	3,280,000	1,350,000

Note the difference after using a Sankey Chart to visualize the data below.

How to Create an Expense Report Template in Excel?

If you’re tired of struggling to understand your expense report data in Excel tables, look no further than ChartExpo!

While Excel is a practical tool for organizing data in a table, it can be challenging to extract insights from the data.

ChartExpo offers a third-party add-in with multiple charts, including Sankey charts, to help you visualize your expense reports example.

ChartExpo isn’t just another charting tool.

It offers multiple benefits, making it the perfect choice for businesses looking to streamline their expense reporting.

With ChartExpo, you can rest assured that your data is secure and safe from breach of privacy.

Moreover, ChartExpo’s charts remove the noise and highlight the essential insights, helping you understand your data quickly.

Don’t wait to improve your expense reporting and decision-making processes any longer.

Try ChartExpo today. It has a free 7-day trial after which, you’ll only pay $10 per month, making it a cost-effective solution.

In the coming section, we’ll show you how to install ChartExpo in Excel.

Let’s dive in.

How to install ChartExpo in Excel?

This section will use the ChartExpo add-in to visualize the survey data below.

Total Cost	Company Type	Company Name	Expertise Categories	Expertise	Cost
Total Cost	Subcontractor	Skyline Contractors	Mechanical Installation	Plumbing & Heating	15456
Total Cost	Subcontractor	Skyline Contractors	Mechanical Installation	Mechanical Work	10159
Total Cost	Subcontractor	Onyx General Contractors	Mechanical Installation	Plumbing & Heating	18045
Total Cost	Subcontractor	Onyx General Contractors	Mechanical Installation	Mechanical Work	12695
Total Cost	Subcontractor	Living Well Remodeling	Mechanical Installation	Plumbing & Heating	14589
Total Cost	Subcontractor	Living Well Remodeling	Mechanical Installation	Welding	11456
Total Cost	Supplier	Power-up Builders	Raw Material	Cement	20561
Total Cost	Supplier	Power-up Builders	Raw Material	Steel	32456
Total Cost	Supplier	Five-star Construction	Raw Material	Bricks	10253
Total Cost	Supplier	Five-star Construction	Raw Material	Timber	9000

To get started with ChartExpo in Excel, follow the steps below:

1. 1. • Open your Microsoft Excel.
      • Open the worksheet and click the Insert button to access the My Apps

1. 1. • Click the Insert button to initiate the ChartExpo engine.

1. 1. • Click the Search box and type “Sankey Chart.”

1. 1. • Highlight your data and click the Create Chart From Selection button, as shown below.

1. 1. • To include the chart header, click the Edit Chart

1. 1. • Once the Chart Header Properties window shows, fill in your header in Line 1, as shown.

1. 1. • Toggle the Show button below Line 2 to the right side to activate the header.
      • Click the Apply button, as shown above.
      • Check out the final chart below.

Insights

At Level 1, the total cost is $154.67K.

But, at Level 2, $72.27K was spent on suppliers, which accounts for 47%, while $82.4K was spent on subcontractors– 53%.

Digging deeper at Level 3, we discover that out of the $72.27K went to suppliers— Power-up Builder ($53.02K ) and Five-star Construction ($19.25K).

$82.4K was spent on subcontractors— Skyline Contactors, Onyx General Contractors, and Living Well Remodeling – who charged $25.62K, $30.74K, and $26.05K, respectively.

In Level 4, supplier companies provided raw materials for procurement, which totaled $72.27K. On the other hand, the companies providing mechanical installations cost around $82.4K.

Specifically, the $72.27K spent on raw materials went towards cement ($20.56K), steel ($32.46K), bricks ($10.25K), and timber, costing ( $9K).

The $82.4K was spent on as follows: Plumbing & Heating ($48.09K), Mechanical Work ($22.85K), and Welding ($11.46K), respectively.

FAQs:

What is included in expense report examples?

An expense report typically includes data about expenses incurred during business-related purchases.

This can include details such as the expense date, the amount spent, the expense purpose, and receipts to support the claim.

What makes a good expense report examples?

An excellent expense report example is accurate, timely, and well-organized.

Besides, it should clearly and concisely communicate the details of each expense and be supported by relevant documentation.

A good expense report example also follows your business’s internal policies and procedures and adheres to applicable tax laws.

Wrap Up:

In conclusion, creating an expense report example is an essential task if your business incurs costs like traveling, etc.

While Excel provides a practical tool for organizing data, visualizing expense data using ChartExpo can significantly improve the quality of the insights.

Using ChartExpo, you can access easy-to-understand visualizations highlighting critical and hidden insights into your data.

With ChartExpo, you can also enjoy enhanced data security.

The timely actions resulting from well-organized and well-presented expense report examples can help you cut costs significantly.

Take advantage of ChartExpo’s free 7-day trial and visualize your expense report data today.

With a low monthly fee of just $10, it’s an affordable solution we recommend you leverage to streamline your expense management processes.