Free Excel Business Expense Template
At Business Accounting Basics, we have created two free Excel business expense templates to download. They are both simple to use and will allow you to include the details of your monthly expenses.
The first is for VAT-registered businesses; it will calculate the VAT once the rate is entered. The second is for non-VAT businesses. The expense sheet can be used in Microsoft Excel, Google Sheets or other spreadsheet apps.
We have a section on claiming business expenses, which is an excellent place to start if you are unsure what expenses to claim.
Most small business owners will have rules for claiming monthly expenses and typically have procedures for claiming the company’s expenses. These procedures might include getting expenses authorised by a line manager, submission dates, and payment dates.
Excel is a powerful tool that can help businesses keep track of their expenses. For example, it can be used to track actual expenses, including mileage, general office supplies and travel expenses.
Our Free Excel Expense claim form template will allow employees to record their mileage, subsistence, and other general office expenses. There is a section for approval by a manager. Once the template is complete, payment can be authorised to the employee and recorded in the accounting software.
Alternatives to Excel Expense Template
Using our expenses report template is an easy option for small businesses needing to track expenses. Investing in accounting software, including a mobile app or expense management software is worth investing in.
Small Business Accounting Software
Although our small business Excel spreadsheet is easy to use, there are alternatives for tracking expenses. A good accounting software package like QuickBooks has an app to record mileage and photograph receipts. It keeps all your accounting in place. Below are some excellent accounting software packages that include expenses.
Expense Template
- Free to use
- Microsoft Excel
- Business Use
Free spreadsheet download below
Business Expense Management Software
Small business software like PLEO, Payhawk or Airwallex can be used to manage business expenses. Actual business expenses are easily tracked and recorded with this software, which helps business owners keep track of their finances.
Business expenses can be categorised for easy tracking, and business owners can set employee budget limits. This software can also be used to generate reports on business spending, which can help make decisions about where to cut costs.
Using business expense tracking software like Pleo can help business owners save time and money by keeping track of their business expenses.
Instructions for Small Business Monthly Expense Template
Follow the basic steps below to complete the expense claim form spreadsheet.
Download the correct template below to track business expenses, depending on whether you are registered for VAT. The expense claim form templates are created to calculate all the figures for you; this is especially useful for a VAT-registered business.
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.
Excel Expenses Claim Form Template UK – VAT Mileage
As set by HMRC, the standard mileage allowance you can claim for business travel is 45p per mile for the first 10,000 miles and then 25p per mile after that. It covers the cost of running your vehicle, including fuel, insurance, and maintenance.
To claim the mileage allowance, you will need to keep a log of your business travel, including the dates, distances travelled, and purpose of the journey. You can then claim the allowance on your expenses report. Remember that you can only claim for business travel, not personal travel.
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. Use the drop-down list to choose the correct fuel type and engine size rate.
Receipt Details
When you spend money from the receipt for the expenses incurred, enter the date, who the receipt is from, the receipt or invoice number and a brief expense description. All this information is helpful if you need to refer back to a receipt. You will need to keep the receipt in case HMRC requires it.
Free Excel Business Expense Spreadsheet – Accounts Code
There is a drop-down list of different account 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 net figures to the correct column.
Total Mileage
If you are claiming mileage, enter the total number of miles claimed; this is calculated at 45p per mile. If you claim over 10,000 miles annually, you 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. If this figure changes, you can adjust the VAT element figure in the Accounts tab of the spreadsheet.
Current advisory fuel VAT rates are on the HMRC website. The template is updated for March 2022 rates.
We also have a separate mileage form available.
Gross Amount
Enter the total amount that you wish to claim against the account code.
VAT rate
If you are VAT registered, enter the VAT percentage shown on the invoice. The current standard rate is 20 percent. All the figures will then be calculated for you. If there is no VAT, either leave it blank or enter 0.
Template Totals
Once all the expenses are entered, 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 and refund the employee.
Changes to the Business Expense Report Template
Please email the details if you need any changes to the business expenses spreadsheet template UK. There would be a small fee, typically £5, for small changes.
FAQ Small Business Expenses
Can I claim more than 45p per mile?
Yes, but anything above the 45p allowance must be reported on form P11D. You will also have to add anything over the approved amount to the employee’s pay. It means the employee will pay tax and national insurance on it.
Licence Agreement to Download Business Claim Expenses Template
By downloading the Monthly Expenses template, you agree to our licence agreement, allowing you to use the templates for your own personal or business use only. You may not share, distribute, or resell the templates to anyone else in any way.
Conclusion for Expense Report Template
The expense tracker template is a great way to keep track of your business expenses. The template allows you to enter all the pertinent information, including who the receipt is from, the date, and the amount. You can also claim mileage at 45p per mile. The template will automatically calculate the totals for you.
The Expenses report template is an excellent resource for small businesses that are tracking business expenses.
Return from small business Free Excel business expense template to Excel Bookkeeping templates.
Related Resources and More Templates
Free Excel Bookkeeping Templates – Free download of 16 spreadsheets
Claiming Home Office Expenses – Claiming Home Office expenses is complicated; we have therefore created a template to help with the process. Full instructions are provided.
Mileage expense form – A separate mileage expense form to record business journeys.
Business Budget Template – Our small business budget template allows you to set a budget and record the business income and expenses for the same period. The results will show any difference between the budget and actual costs.
