Expense Report

By Entrepreneur Staff

Expense Report Definition:

A report that tracks expenses incurred during the course of performing necessary job functions. Examples include charges for gas, meals, parking or lodging.

If your employees spend a lot of money in cash, you need to make sure you have them list these expenditures on an expense report form. Have them attach the receipts to the back of the form so you can double check the entries on the form against the actual receipt. You or your bookkeeper will then add in the expense codes and write them a check for reimbursement of the expenses.

Need an expense form for your business? Download one for free from our FormNet library of business forms. Scroll down our "Financial Management" forms page for a variety of useful forms, including an "Expense Report" form.

More From Accounting

Cash Flow

The difference between the available cash at the beginning of an accounting period and that at the end of the period. Cash comes in from sales, loan proceeds, investments and the sale of assets and goes out to pay for operating and direct expenses, principal debt service, and the purchase of asset

Cash Flow Statement

A financial statement that reflects the inflow of revenue vs. the outflow of expenses resulting from operating, investing and financing activities during a specific time period

Cash-Basis Accounting

An accounting system that doesn't record accruals but instead recognizes income (or revenue) only when payment is received and expenses only when payment is made. There's no match of revenue against expenses in a fixed accounting period, so comparisons of previous periods aren't possible.

Accountant

A person whose work it is to inspect, keep or adjust accounts