We are talking about the employee expense report. Do you know what is the basic purpose of the daily employee expense report template? We tell you that the expense report is generally used for record business travel expense that includes transportation, meal, lodging, and budget.
But the expense report not only uses for the above-mentioned works but also used as a business expense for which an employee can check out its outcomes and feasibility of its analysis.
You can get the following excel templates for official use:
• Employee Expense Sheet (Daily, Weekly)
• Employee Expense Report (Monthly)
• Business Expense Sheet (Monthly to Annual)
• Travel Expense sheet/Report
• Printable Expense Report
We can also use these templates to track mileage and fuel used on work, such as expenses on meeting with clients or other extra expenses that can withhold during any business. It can also include a record of business travel costs, tax payments, and other these types of variations that can be seen in these types of templates. You can also read the related article: Cost Management Plan Template Excel
Daily Employee Expense Report (Key Features)
Daily employee expense report template generally depends upon the customer need of a business that an expense report is to be a large, explanative, or a simple report. A detailed report has little information along with each tab that is a basic requirement of any good report.
Moreover, in a simple version of reports we have just the main identified tabs that are more feasible to explain in less time. Both simplified and explanative reports are essential for the understanding point of view and for the audience and employees.
How to create a Daily employee expense report?
So, let’s starts with how we can create a simple daily expense report. The basic employ expense report template is the best and easy way to manage business expenses. It is great to start with a simple and easily elaborated template.
The important things that must be included in an expense template are given as follows:
1. It must record the date: that is a basic need to be known in a certain template.
2. Payment method: one must know all the payment methods that have been included in a business.
3. Vendor: you must know about the vendor that is it relevant or not and has to be address dated.
4. Expense description: in a customize report It is required that you must explain all the expense descriptions in the expense method.
5. The payment amounts: the payment amounts must be elaborated briefly so that your expense graph must be in hand on each look.
Further columns can be added to these above mentions basic templates according to the type and category of the record that must be maintained.
Related Link: Project Costing
What are the Types of Employee Expense Sheets/ Reports Templates?
Following are the most used types of Daily Employee Expense Report Template to manage business expenses:
1. Employee Basic Expense Template
If you are running a business than the expense is a certain obvious factor, Expenses varies from business-to-business types, Basic expense template is designed to record employee basic routine expenses, e.g., company transport/ vehicle, fuel, rent, telephone, food, medical insurance, etc.
2. Employee Business Mileage Expense Template
This template is designed to record data of those employees who tend to use their private vehicles for their official use then a standard rate is set for their per m/km traveling.
3. Employee Travel Expense Template
Of course designated employee travel for their project either within the town, city, state or sometimes across countries, well in this case company is responsible for their all expenses and cost. This excel template is specially designed for employee travel budget/expense management. You can just enter the values and get the report of all travel expenses covered by employees for official use. Similarly, you can also track the future traveling cost by just entering the values and estimated figures.
4. Employee Project Expense Template
Obviously, when you are running a project, many employees are working on it to complete their given tasks. Well, Employee Project Expense Template is prepared for the analysis and measurement of the labor cost linked to project cost. By entering the values, you can calculate the employee cost from the cost of the running project.
5.Employee Contractor Expense Template
The relevant cost project managers make an estimation of their projects. As they manage the cost of their employees, similarly they manage the contractor expenses costs.
There are few editable templates designed for the contractor’s expenses control and management, for example, a private truck driver is a contractor who is providing the services for your project transportation i.e. security company contractor, private labor provider contractor. Thus, there are lots of tasks where you need external contractors for short- and long-term periods. You can also read the related article for your projects:
Features of Daily employee expense report
Here we are going to tell you some more about the expense report that can be on a daily or monthly basis. The main features of a daily employee expense report template include: Related Article: Employee Productivity Tracker
1. Employee unique information: in this tab, you must include the unique information of the employee that is its name or some code that has been assigned by the company of designation or it could be some bar code
2. Shortcode: the shortcode includes that other expense date, vendor name, city-state description, dollar amount, and shortcode post.
3. Source of payment: select the source of payment, this tab will give you a detailed description of the expense that has been withheld through which canal. Helpful Link: Project Planning
Conclusion and remarks:
At last, we will share with you the best breakthrough of the best expense report that must include. The main thing that an employee report must include is basic information with detailed descriptions. Therefore, this must include is the collaborative feature in a single texture. And the last but not the least, the most important thing that must be undermined is that office must avoid inappropriate expense means there should be a selective option that tells or elaborate the unnecessary expense that needs to control for the better progress of the work.
Frequently Asked Questions and Answers
Q.1. Can we use this template for our private contractor expenses?
Ans. Yes, you can manage your private contractor’s expenses also. There are templates available for this purpose.
Q.2. Are these sheets available in printable form?
Ans. Yes, you can take a printout on a single command.
Q.3. Can we open this sheet in MS Excel 2016 version?
Ans. Yes, you can open and edit in any MS Office Version.