The end of the month is here, and you have bought light bulbs, coffee, milk, 3 packs of paper and now the accountant is asking you to make an expense report. But you have no idea what it is and how to put it together. Here's an overview!


What this usually means is that you gather all the expenses in an Excel spreadsheet, attach all the receipts and forward them to the accountant. This is a simple version of it. In different companies, however, things can be quite different in practice, so for the sake of certainty, feel free to clarify with the accountant.


Let’s see how to submit an expense report if you need to submit more than 1-2 receipts:


1. Firstly, you should have with you all the expense documents you want to add to a report. In Estonia, they can also be in the form of an image.


2. These expense documents must then be sorted:

·      If you're only making the report for yourself, you can skip this point. If you are reporting to multiple people, sort each person's expense documents separately;

·      Then sort the receipts by payment method, divide the documents in two (for multiple people- two piles for each person):

1)    Expense documents paid from the company's funds (company card, cash, or transfer) must be submitted separately. They must have an expense document in order to see which products have been purchased from the company's resources.

2)    In the second pile, put the costs that you have paid from your own resources and for which you want to get a refund from the company. It gives the accounting officer a clear idea of ​​how much the company has to repay to the employee and what amount the employee has used from the company's funds.

 

These expense documents now have to be divided between the different expense categories. The main types of expenses to be used are car, transport, representation costs, economic expenses, accommodation expenses, and other expenses.

 

3. Once this is done, start digitizing: reading the data and entering it into the table. First, you need to choose the right software for you, for example, Excel, Google sheets, or just plain paper.


The following information should be read from each expense document: name, date, document number, currency, amount, net, and VAT amount. It is recommended to add a small comment, so it will be easier for the accountant to understand what exactly has been purchased.


This is what an expense report in Excel looks like:

4. If the table is done, attach the expense documents. Some companies want the receipts to be fully attached to the sheets, while others want to attach the expense documents with a physical staple. Alternatively, you can submit the report with the images in one virtual folder, either by emailing it or uploading it to the company's shared drive.

 

If the long journey above seems time-consuming and perhaps even a little tedious, CostPocket offers digital expense reporting that makes the report for you on the go. You take a picture of each of your receipts with the CostPocket app, the app digitizes them and sends them directly to the accounting program. In this way, the accountant also has an overview of current expenses. At the end of the month, the report will automatically pop into your inbox in PDF and CSV format without you even having to bother!


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