Tracking your expenses can help you spot unusual changes. It’s easier to spot unusual or fraudulent expenses An Excel spreadsheet coupled with a powerful Work OS like, allows you to quickly and easily create an expense report that’s ready to submit to your boss or accounting department in less time. You can also save money by automating the expense reporting process. This lets you focus on your financial goals instead of crunching numbers. When you have a standardized spreadsheet for tracking expenses, you can save time by using built-in formulas to calculate totals and averages. With an Excel spreadsheet, you can standardize your expense tracking process to save and view all of your expenses in the same location. They’re going to run into expense reporting problems sooner or later. Suppose George from sales jots down his expenses on diner napkins and Betty from HR plugs expenses in a Notepad file on her computer. You can visualize expense tracking in one place With accurate expense data in front of you, it’s much easier to make informed decisions about your business. You might analyze your existing expenses and compare that against product estimates from food service wholesalers. And having expense information distilled into an easy-to-follow spreadsheet is a critical step.įor example, let’s say you own a bakery and you’re trying to make a decision about whether shopping locally for your ingredients is saving you money. Knowing more about your business’ expenses lets you make better financial decisions. Let’s take a look at some of the key benefits of using a Microsoft Excel spreadsheet for your business expenses. Change Budget to Goal if you want to use the spreadsheet to track your savings goals.4 reasons to use an Excel spreadsheet for business expenses.The expense tracker can be used for income tracking by making just a few changes to the labels. In the latest version, I changed the date format to the default * format so that dates will display as d/m/yyyy or m/d/yyyy depending on your computer's locale settings.When inserting a new category, insert the new column to the left of the Other column and then copy/paste formulas in the header and total rows. Two of the columns are hidden - to make it easy to insert new expense categories.This will help make sure the Totals update correctly (you should probably check to make sure you don't mess up the formulas, though). When inserting new rows, insert the new rows above the last empty row in the table (not directly above the Total row).Conditional Formatting is used to highlight every other row, to allow you to easily insert or delete rows and still maintain easy readability of the expense list."Category X") are just labels so go ahead and change them to be what you want. The labels for the expense categories (e.g. Listed below are some of the features or details to note as you are using the expense tracking sheet or the budget tracking chart. I have tried to set up the spreadsheet so that it is easy to insert or delete columns, depending on how many different expenses you want to track.
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