Otherwise, you’ll need a spreadsheet with more features and functionality. In that case, a simplified spreadsheet for tracking expenses may work. Let’s say you’re a small business or a “mom and pop” company that doesn’t have numerous departments, employees, and budgets to manage. These spreadsheets are usually “barebones” tools and only contain simple expense tracking information like the purchase date, payment method, a brief description, and the expense amount. Sometimes all you need is a simple list of your expenses and this is where a basic expense spreadsheet comes in handy. Not all expense tracking spreadsheets are complex tools with dozens of columns, categories, and formulas. Now that we’ve covered the basics of what an expense spreadsheet is and why you should use one, let’s take a look at a few examples of how you might use them.ĥ examples of business expense sheets in Excel 1. Spotting these “red flags” early makes it possible to identify and investigate fraudulent or unauthorized spending. For example, if you usually spend $100 per month on office supplies but suddenly spend $500 the next month, an expense spreadsheet makes it easier to see this change. Tracking your expenses can help you spot unusual changes. It’s easier to spot unusual or fraudulent expenses An Excel spreadsheet coupled with a powerful Work OS like, allows you to quickly and easily create an expense report that’s ready to submit to your boss or accounting department in less time. You can also save money by automating the expense reporting process. This lets you focus on your financial goals instead of crunching numbers.

When you have a standardized spreadsheet for tracking expenses, you can save time by using built-in formulas to calculate totals and averages. With an Excel spreadsheet, you can standardize your expense tracking process to save and view all of your expenses in the same location. They’re going to run into expense reporting problems sooner or later. Suppose George from sales jots down his expenses on diner napkins and Betty from HR plugs expenses in a Notepad file on her computer. You can visualize expense tracking in one place With accurate expense data in front of you, it’s much easier to make informed decisions about your business. You might analyze your existing expenses and compare that against product estimates from food service wholesalers. And having expense information distilled into an easy-to-follow spreadsheet is a critical step.įor example, let’s say you own a bakery and you’re trying to make a decision about whether shopping locally for your ingredients is saving you money. Knowing more about your business’ expenses lets you make better financial decisions. Let’s take a look at some of the key benefits of using a Microsoft Excel spreadsheet for your business expenses. 4 reasons to use an Excel spreadsheet for business expenses

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