If you have an expense account at your company, it is often tricky to keep track of all the receipts and the totals for each category of expenditure that you might have. The Weekly Expense Report Template allows you to total each category of expenses as an employee so that you can print the report out each week or time period and turn it in with your receipts. The Weekly Expense Report Template is free to download from this page and can be customized to match your own company information and expense programs.
How to Use the Weekly Expense Report Template
- If you are the administrator of the document, before users use it, ensure that you change the expense categories to match the categories that your company recognizes. After you have added, edited, and subtracted categories, save the template.
- Enter your employee information and that of any identifying numbers that will allow your administrator to know that this is your report. Add your receipts up and enter the subtotal or total number for each category in the appropriate category.
- Print the Weekly Expense Report Template out every week or month, depending upon what your company requests. Staple a copy of your receipts to the report.
Tips for Using the Weekly Expense Report Template
- You can keep a running total of all expenses that you have for each category by adding each expense into the sheet as you incur it. If you are using a tablet computer, this is easy to implement. After each entry by category, you can merely add the most recent purchase price from the receipt with the previous total.
- Don’t forget to follow the instructions regarding explanations of the expense items like repairs and dues. The explanation is needed because the company can deduct all of your expenses as expenses if the categories that they are using are in sync with the tax code. IRS people often need more information or details about dues and repairs in order to both ensure that they are classified correctly, and that they are allowable. Another thing that you can do with your company before you start using the template is to have a class to teach all relevant employees about what each category means and what types of purchases are allowable and which are not.
- Develop a standard way of communicating each week so that your reports become normed on the same language and the people reading them can approve them without having to spend that much interpretation time.
Download: Weekly Expense Report Template
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