We have created a free Excel business expense template to download. There are 2 to choose from depending if you are VAT registered or not. They are both simple to use and will allow you to include the detail of your expense.
We have a section on claiming business expenses, which is an excellent place to start if you are unsure what expenses you can claim. Most will have rules for claiming monthly expenses and typically have their forms if you work for a business.
Instructions for Monthly Business Expense Template
Download the correct template below, depending on if you are registered for VAT or not. The templates are created to calculate all the figures for you; this is especially useful for VAT registered.
Complete the section on the top right, including name, date and, if needed, authorisation signature. Each expense will need a separate line if you have a receipt to claim with several different expenses; then, you will need a line for each type.
Free Excel Business Expense Template – VAT Mileage
If you are VAT registered and claiming mileage at 45p per mile, you can only claim part of the amount as VAT. This amount varies depending on fuel type and engine size. HMRC regularly updates these figures, and you will need to check back if there is a new version of the template with new rates.
Our VAT spreadsheet has taken the different rates into account. To choose the correct rate, use the drop-down list to select fuel type and engine size.
From the receipt, enter the date, who the receipt is from, the receipt or invoice number and a brief description. All this information is useful if you ever need to refer back to a receipt.
Free Excel Business Expense Template – Accounts Code
There is a drop-down list of different accounts codes that can be used. Click on the arrow and the list will appear, then click on the code required. It will automatically post the figures to the correct column.
If you are claiming mileage, enter the total number of miles claimed; this is calculated at 45p per mile. If you claim for over 10,000 miles in the year, you will need to contact us for a different template. The mileage figure is calculated as a total at the bottom. There are special rules for claiming VAT on mileage as you can only claim the allowance’s petrol element. The current figure is 16p per mile, which is shown below the table. If this figure changes, then you can adjust the VAT element figure.
Enter the total amount that you wish to claim against the account code.
If you are VAT registered, then enter the VAT percentage as shown on the invoice. The current standard rate is 20 percent. All the figures will then be calculated for you.
Monthly Expense Template Totals
The bottom row on the expense template will give you the total, VAT amount and each expense type total. Enter these amounts into your accounts monthly.
Changes to the expense form
If you need any changes to the business expenses spreadsheet, then please email the details. There would be a small fee, normally £5, for small changes.
Alternatives to Excel Expense Template
Although our small business Excel business expense template is easy to use, there are alternatives for tracking expenses. A good accounting software package has an app to record mileage and photograph receipts. This keeps all your accounting in place. Below are 2 excellent accounting software packages that include expenses.
To download your free monthly expense report template, you must agree to our licence agreement
By clicking on the link, you agree to the licence agreement.
Further information on what business expenses you can claim are found on the gov.uk website.
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