When an employee incurs the expenses of the business, he can claim all those expenses. Claiming the expenses enables the employee to get reimbursement of all the expenses. It is important to claim the expenses for an employee because he has spent on behalf of the business.
What is an expense claim record sheet?
Expense claim record sheet is a spreadsheet or MS Word document in which all the expenses of the business which the employee has incurred are recorded.
What is the purpose of creating the expense claim record sheet?
The basic objective of creating the expense claim record sheet is to let the employer know about the expenses the employee has incurred. The employer also checks all the recorded expenses at his end for confirmation. Once all the expenses are confirmed, the employer reimburses them.
In most of the situations, the employer asks the employee to prepare the expense claim sheet in order to record the expenses which can then be handed to the company for reimbursement.
Why it is important to create the expense claim record sheet?
For an employee incurring the expenses of the business, it is important to create this record sheet if he wants all the expenses to be reimbursed. As a matter of fact, it is not possible for an individual to remember all the expenses. The better approach is to create the record sheet in which he can take down all his personal and business expenses. Once the record sheet is created, it can then be sent to any relevant person according to what is needed to be done at that time.
What should be included in the expense claim record sheet?
Although every business has its own needs when it comes to creating the expense record sheet, there are some details which are added to almost such sheet. These details are:
- The information about the employee such as name, unique ID number, name of the department in which the employee works, etc.
- The dates of incurring each expense
- A complete and detailed list of the expenses
- The total amount of expenses
- Signatures of the person creating this report
An expense claim record sheet is a professionally used document that requires to be drawn up in a completely formal way. When an employee submits a professional looking record sheet to the company, he comes across as a professional person who is committed to his work
A readymade expense claim record sheet is provided by the template. The template is created in an MS Word document and entering the record and performing calculations in the sheet is easier with the help of pre-defined formulas. Moreover, the user gets the complete flexibility with which he can customize the template to make it suit his needs. The template has many productive features that make it easy for the person to keep track of the expenses incurred by him and note them down in the record sheet for further operations.
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