Where it might not be possible to provide a receipt – say, for example, your train ticket gets swallowed by the ticket barrier – the expense can still be claimed, but careful note must be made of exact amounts and times. It is very important to get receipts for every business related purchase. And the good thing about having a system in place is that it can act as a reminder to you to claim everything that is allowable by the taxman. These records do not need to be complex, as long as they keep to the rules laid down by HMRC. Usually, the company has a standard expenses form that employees fill in each month, and then the next month the money they have paid out on behalf of the company is paid back to them alongside their salary.Ĭontractors who run a limited company must also keep a clear record of any expenses they wish to claim. Many contractors are used to the expenses systems that big companies have for their employees.
Meals: Record the cost of any business meals.Fuel and Mileage Cost: Record the amount spent on gas or the total mileage at the beginning and end of expensed car trips.Lodging Cost: List any costs related to accommodations.Air and Transportation Cost: List the amount of any travel-related expenses.Description: Briefly describe the expense.Date: List the date the expense was paid.Fill in Expenditure Information: For each reimbursable expenditure, provide relevant details for each of the following categories:.Pay Period: Select a date range for the expenses.Statement Number: Assign a statement number to the report.Purpose: Provide the purpose of the expenses.Department: Identify the department issuing the reimbursement.Manager: Enter the name of the approving manager.Employee ID: Enter that employee’s unique ID number.Employee Name: Enter the name of the person requesting reimbursement.Fill in Identifying Information: Fill in the following fields so that anyone can identify the report at a glance:.Open the Document: Open your expense report template in Excel.Once you have selected and downloaded your template, follow these steps to create your expense report: Next, save a copy of the template using your organization’s file naming conventions. To get started with your claim for reimbursement for your travel or other business expenses, download an Excel expense report from this page. Select an Excel expense report template from this page, and plug in your expenses for timely reimbursement from your employer. The most effective way to create an expense report in Excel is to use a preexisting expense report template.
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