Expense Chart Template

An expense chart template is an itemized list of summarized expenses made by certain organizations, employees of an organization or anyone else in a specified time period. It is mainly used to track and follow daily expenses. Expense charts are not only used by companies to track their monthly expenses and manage their cash flow, but also used by many individuals in their businesses. There are multiple ways that people can use expense charts for their benefit. Some of the few ways that people can use expense charts are as follows:

1. For Reimbursement Purposes:

Expense charts are mostly used by employees to track their monthly expenses. The reason why they have to properly track their expenses is because at the end of the month they are supposed to submit the expense chart to their company. Then the company reimburses them according to their expense policy.

2. For Saving Money:

When someone is planning to save up money for something big (a car, house or a big investment). Their first step is to track their cash flow, so they can get a general overview of all the places their money is being spent. The second step is to find the unnecessary expenses and try to reduce them. Thus, it is an effective technique to save money.

3. Tracking Expenses:

Most organizations and business people use expense charts to track their monthly or annual expenses. It is one of the most effective tactics to manage a company’s cash flow. Generally, this task is handed over to the accountant of the company. They track all the company’s income sources and cash flows. Every expense made by the organization is listed down and receipts are also attached to the expense chart. At the end of the month, the chart is handed over to the superintendent.

How to Prepare an Expense Chart?

Expense chart templates are very easy formats and are mostly uncomplicated. They can be easily made by anyone on an Excel spreadsheet. The report should be in the form of a list and each expense should have a specific row for its description, amount spent on it, tax inclusion on it and method of payment. The person who is summarizing all the expenses should keep in view the following things while making the list:

1. The name and basic information about the person who made the list. If it is an employee, he/she should include his/her department, manager name and email.

2. Purpose of the expense chart.

3. Next, make a table and specific columns for each heading. Which should include date, expense name and description.

4. Each expense should be properly described by the date on which it was made, the payment method that was adopted to pay for it, the amount of tax that was added to the total amount, the total amount paid for it.

5. At the end of the list, make a subtotal for each amount. For example, a subtotal of the amount spent on taxes and the subtotal of the amount of each expense. These should both be added to give the overall total. Which will be the amount to be reimbursed.

Templates for Expense Chart: