Do you always have a problem of tracking how the money from the business was used? Such that you or your employee cannot remember the items bought and thus you are unable to balance income against expenditure? You need a business expense report; it is a list of all the things purchased in the course of performing tasks such as charges for gas, meals, painkillers, antiseptics or anything that used the money.
In the same report ensure to outline the form of money used whether cash, VISA Card and any other. By the end of the day, you will have something that has a display of; list of items bought, amount, the form of payment and at the bottom have totals of each category. Simple and clear.
There different types of the business expense report for particular fields like below;
Travel and Business Expense Report
It includes all the expenses incurred during a business trip; it may consist of the charges accrued on lodging, meals and drinks, fuel, conference fees and others. It can also be used in companies when they send their staff on a trip or to a university to record expenses on student’s travel to a particular place.
Self-Employed Business Expenses Worksheet
Self-employment provides one with a lot of freedom; therefore, you may end up spending more than you are gaining. The business expense report will enable you to know how much you are paying by including all the expenses; such as interior decor of the office or business, rent, electricity charges, meals, stationery, pieces of equipment and all the others. You should prepare it on a daily basis.
Real Estate Income and Expense
Consulting Expense Report Template
Construction Expense Report
Like the above you will record the expenses incurred in the course of the construction, it may include the materials, power, types of equipment, transport, meals or any other.
For all the above reports to be accurate, indicate the item immediately after or before buying and keep the receipts.