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employee expense report

Updated on May 15, 2010

An employee expense report is usually a standard template, that has to be easily understandable and used. It usually acts as a claims form, to reimburse expenses incurred in the course of employment. It can also cover say entertaining guests, as well as other fringe benefits and perks the company provides. It needs no further mention that it has to contain receipts and bills of the expenditures or at least a reasonable estimation, as well as the exact amount to be reimbursed as well as the purpose, all to be written or typed inside the employee expense report for the claims to process. It would be helpful to also note the person authorizing the payment or transaction, as well as the dates it took place. Upon approval of their filled up sample expense report, the money would then be credited.

These days in addition to a pen and paper version, which would have to go through a secretary and a digital transcript, things can be done electronically online if the correct software is purchased and set up for the company. Occasionally these software can also double as time and expense software in addition to employee expense report creation and tabulation software. One of the advantages of having it done online and electronically is the ease of processing, as well as it being rather quick and almost instant. Statistics have shown that for some software available on the internet, the time reduced for filling up forms hover at 61% and cuts the manpower required to handle all this employee expense documents from the start to the end for example receipt processing. They could even have custom templates; say for travel expenses, i.e. employees traveling for business purposes.

It is not a matter of whether one should have employee expense reports, but how it should be done. If you happen to be a small business, it might be good to inquire as to the small business packages, instead of taking the hassle and spending valuable time that one could use to expand the business in manually making a new set of spreadsheets customized for your company from the samples of expenses report out on the internet. If you represent a large firm, then naturally it is best to head straight for the paid software’s and downloads.

Following the choosing, one might then need to spend some effort determining the best way to organize the above into a usable format. If you are working on a smaller scale, this might be a pain. However the end product is worth it. It is useful in accounting as well as when the audit comes around. It also allows one to keep track of how much they are spending on travel and entertainment, on whether to consider implementing a company wide video conferencing. One has much more options available to streamline and analyze this process now thanks to modern technology and software advances.

In the past the only option would have been to have it down in black and white, that is to say in paper and ink. This method requires little explanation, nor do its drawbacks. It kills trees, is tedious and troublesome, and makes for difficult storage.

Spread-sheeting using a cookie cutter software. It is very easy for businesses these days to track employee expenses by downloading a cookie cutter simple expense report form from the internet and require their employees to fill it in and submit in online over the internet. One advantage of this is that it does work on a real time basis and instant results can be seen. Another is of course that it saves trees. It does however have its limitation in that it can only support a low level of complexity and lacks certain automation and support that would only come with paid software.

Employee Expense Report Software tailored to your needs.
This could come in two forms, one in a database version and another in a program that you would need to install over the computer systems. It is sometimes good to use both. The latter is good for an intranet, or internal network, and helps if a certain element of privacy is required for the industry you are in. Online databases do have their advantages in that they are usable from home or overseas and are that much more convenient. For example, for company travel expenses, they could fill it up over the airport wi-fi as they touch down on their business trips. They can also double up in creating other spreadsheets such as sample inventory sheets.

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