Organizations have a lot to gain from keeping a tab on their employees’ expenses. As such, it is generally better to keep track of expenses over time than waiting for the receipts to arrive at the end of the month. In companies with large sales teams that do a lot of traveling, incurred travel expenses can quickly pile up. Moreover, companies prevent unpleasant surprises by having a reliable tool in place to track expenses in real-time.
In many SMEs, implementing a formal system for submitting and reimbursing expenses is not a top priority. Usually, employees simply submit their receipts at the end of the month, which often results in a lot of manual work for accountants or the person responsible for handling expenses.
While there are a lot of software solutions available to track expenses, most of these come with a hefty price tag or steep learning curve. Instead, using an expense tracker template in Excel provides companies with an easy and reliable way to track expenses in real-time.
Why use Microsoft Excel to manage expenses?
- Flexibility: You can customize Excel spreadsheets to meet your company’s specific needs and requirements. Indeed, online spreadsheets allow you to create a versatile expenses submission and tracking system. No coding skills are required to adapt and customize the expense tracker template in Excel.
- Accessibility: Microsoft Excel is cloud-based, so your colleagues can submit expenses from their laptops or mobiles at any time, even when they’re on the road. Accordingly, administrators can process expenses quickly and easily.
- Compatibility: Microsoft Excel is easily compatible with other software that your company might be using. Therefore, data is easily imported into Excel spreadsheets.
- Easy to use: Many of your employees are probably familiar with spreadsheets, and if they are not, it is easy to train them. Indeed, using an Excel-based template is ideal for both beginners and advanced users.
Start tracking your team expenses
What you get with this template
- A sheet to log all the team expenses.
- An automated dashboard projects a visual overview of expenses per day, month, expense type, and individual.
How to get the Expense Tracker template in Excel
Click the button below to get started.
How to use the Expense Tracker template in Excel
Step 1: Record the team expenses
When a member of staff pays for something that they need to include in their expenses, you or someone from your team should record it in the Expense inputs sheet of their personal spreadsheet.
Step 2: Check reports in the dashboard
When you already have a set of expenses and want to generate a report, go to the Dashboard sheet and enter the number of past days you’d like to include. The charts will update automatically based on the selected time period.
Start tracking your team’s expenses
