Expense Report Software, Perfected

Expense reports are detailed records of business-related expenses that employees incur on behalf of the organization. They typically include information such as the date, amount, and purpose of each expense, along with supporting receipts or invoices.

For example, an expense report after an employee business trip can include expenses like transportation, hotel stay, rental car cost, and more.

Creating an expense report can be based on the type of expense, the payee, the specific project or client associated with it, or the employee responsible for the cost.

7 steps to create an expense report for employee expense reimbursements:

Step 1: Use a template or an employee expense reporting software to create expense reports

Step 2: Determine the reimbursable business expenses to include in your expense report

Step 3: Report each business expense as different in-line items in your expense report

Step 4: Ensure you fill in all necessary expense fields like date, purpose of expense, merchant, and other payment details

Step 5: Calculate the total amount of reimbursable expenses included in your report

Step 6: Add relevant notes about the expenses incurred or the overall expense report

Step 7: Print and attach expense receipts as proof of spend and then submit them to your reporting manager

Alternatively, you can also use Fyle, the best expense report software for small businesses, to automate and streamline your expense reporting!

• Employee name
• Date of business expense
• Purpose of business expense
• Payment method for expense incurred
• Vendor name
• Expense category of expense incurred
• Subtotal and total for all business expenses
• Approval signature from the reporting manager

Outdated expense reporting methods like manually creating expense reports hinder efficiency and accuracy. A business expense reporting software streamlines the process by extracting all necessary expense report fields, auto-populating it, checking for policy violations or expense fraud, and ensuring all expense claims are compliant.

For truly effective expense reporting, expense report software should make every step simple—from receipt tracking to automated credit card reconciliations—and integrate seamlessly with your accounting software. That’s exactly what Fyle does, streamlining your expense reporting process so you can focus on what truly matters.