There are many activities happening in a company. As revenue comes in through sales and marketing, there will be expenses incurred at the same time. For better accountability of the revenue used in an organization, it is advisable to have an expense report that can be referred to for confirming the correct handling of funds in the organization.
An expense report records the what, where, who, when, why and how the company funds are expended. This information allows the auditor to trace the movement of funds to avoid money laundering from the company and upholding the integrity of the company.
An expense report template may contain the following pieces of information:
* Employee Name & Identification number
* Department & Title
* Extension Contact number
* Email address
* Personal contact number
* Amount expended
* Venue, time, date
* Objective of activity
* Approved by
Some companies require their employees to be very specific with the details of the activity carried out which incur some expenses that are claimed by the employees. Hence, an expense report may display the reasons for each activity undertaken by the employee. An expense report will also display the total expenses incurred by the company in a week or month, depending on the requirement of the auditor.
The expense report can also generate the amount expended by any employee and match his revenue to the company against the expenses incurred.
Consider the attached sample template for your convenience.