#Google sheet expense report template software

Minimize costs by opting for software that tackles multiple components of your T&E program, such as digitizing expense reporting, streamlining trip bookings, and automating reimbursements. There are costs associated with purchasing and implementing the software or services necessary for digital reporting, as well as ongoing maintenance and support fees. Accounting can tabulate most expenses automatically, without scrutinizing every receipt or hand entering sub-totals.ĭigital travel expense reporting does have a few drawbacks that should be considered.

And most integrate directly with general ledgers in Quickbooks,, Xero, or Netsuite. They’re also far more accurate, and can automatically categorize entries or capture values from receipts. For starters, it streamlines workflows and reduces time spent collecting, reviewing and approving reimbursement requests. Travel expense software offers numerous advantages over traditional spreadsheet-based methods. Advantages and Disadvantages of Digital Travel Expense Reporting They’re simply more susceptible to fraud or negligence.

#Google sheet expense report template manual

Manual reports also rely on the honesty of the employee reporting the expenses, plus the attention-to-detail of approvers. A study from GBTA several years ago found that companies spend more than 3,000 hours correcting expense report errors annually. Small discrepancies in the data have to be hand-researched by accounting. Similarly, manually checking spreadsheets against photos of receipts is error-prone. To many employees, it’s a dreadful task that snowballs the more they avoid it. Employees manually gather receipts and hand-enter details into spreadsheets. Why are manual expenses so pricey? Because they’re time consuming. > Related: 7 Tips to Avoid Finance Report Errors << Disadvantages Research consistently shows manual expense reports cost $26 in person-power per report. It also bears no software costs – but beware thinking that manual = free. But manually creating and processing expense reports is familiar and it won’t be difficult to train employees to fill out a simple spreadsheet. If manually managing all of this sounds like… a lot, you’re not wrong. Advantages and Disadvantages of Manual Expense Reporting Advantages Remote teams are also more likely to DIY software procurement, especially if the monthly costs are low.

Additionally, many organizations also offer a monthly stipend for internet and telecom bills, or the occasional coffee. Remote expenses go beyond laptops and can include printers, monitors, basic office supplies, and headsets. If employees are lodging at a short-term rental, expect them to expense groceries. Many also create policies that prohibit expensing un-billable alcohol or entertainment. Many companies have a per diem allowance for un-billable meals during business trips. Sometimes flights or trains are cheaper, so articulate an exact policy. An employee who drives 200 miles to a business trip (and back) would be reimbursed $268, plus tolls and parking.

#Google sheet expense report template registration

Every year the IRS studies the costs of operating an automobile, including “the cost of gas, oil, tires, maintenance and repairs, as well as the fixed costs of operating the vehicle, such as insurance, registration and depreciation or lease payments.” In 2024, the IRS increased the Standard Mileage Rates to $0.67 per mile for business purposes. Transportation expenses include rental cars, taxis, subway fares, or any other fees associated with getting around during the business trip. Depending on the length of stay and your policies, it may also include laundry services or a gym membership.

Accommodation covers hotel rooms and taxes, or short term rentals (i.e. Lodging is another top expense, with nightly rates and lodging fees adding up quickly.

Visas and passports for international travel.

Seat upgrades so that staff can pre-select seats or get a few extra inches of legroom.

TSA PreCheck or Global Entry – while they cost ~$100, they’re far cheaper than rebooking a missed flight.

If the latter, employees may be financially strained if they use personal cards. Define if employees should seek reimbursement after buying the ticket or after taking the flight. > Related: 10 Shifts In Business Travel Expenses Ĭommon Business and Travel Expenses AirfareĪirfare is one of the top expenses of a trip, and booked far in advance. Looking to overhaul your business expense template, or standardizing one for the first time? This post explains business and travel expense tracking, and provides a starter business travel expense report template.