Free Excel templates provide you with a simple outline to stick to, as well as flexibility to modify them to fit your business. Using a business expense spreadsheet on Excel is the ideal middle ground between these two options, since the software is relatively simple to use, and inexpensive as well. That doesn’t mean you have to rely on outdated traditional methods like manually maintaining ledgers and books. But that doesn’t mean your business won’t have expenses to report and manage. Sometimes, your business may not have the requisite size or number of employees to warrant getting a subscription. They could also end up being quite inaccessible to first-time business owners who need to learn how to use them properly. Some popular applications are Zoho Books, Quickbooks, Mint, Expensify, and more.īut the problem with expense tracker apps is that they are often way out of the price range that small and midsize companies can afford. These automate many functions, such as having to manually input the expense data every time, and reports give you better insights to make decisions. These include sync with bank accounts, credit cards for your business, and expense report generation, among others. There are several reputed bookkeeping and expense tracker apps in the market, and they are usually the most convenient option for businesses as they come with several useful features. Get Excel Template Why do you need an Excel spreadsheet for business expenses?īusinesses now have a variety of tools to choose from to track and record business expenses. Excel formulas that automatically calculate total expenses, average, etc.Rows to fill in the data about each expense item.Columns to fill in headings about the data like the date, vendor name, unit cost, total spent, payment method, expense description, etc.While there may be numerous kinds of business expense tracking spreadsheets, they share some common features like: This will help you when reimbursing employees for travel out of their own pockets, and keeping separate spreadsheets offers you more flexibility over tracking expenses as well.Ī monthly or annual expenditure spreadsheet will record all travel expenses incurred during the time period under one heading, without showing specifics.īoth kinds are important for a business owner to maintain, as you need to have visibility of both the nitty-gritties as well as the overall financial picture. For example, you could have an expense spreadsheet that only tracks and records travel expenses incurred during business operations, like money spent on transport, stay, and meals.
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