How do I calculate the monthly expense report?
It is important to keep accurate records of monthly expenses in order to gain a better understanding of the financial status of the company. An expense report can be used to track how much money is being spent within a department, on a project, and to reimburse employees for business expenses. Expense reports come in different forms and can be cumulative or more specific. An expense report should include the date the expense was paid, the payee/vendor the money went to, whether the expense is allocable to a specific client or project, the total amount paid, including taxes, commissions and fees, and the type of expense. To calculate monthly expense reports, it is important to use a reliable spreadsheet program such as Sourcetable and to follow the formula of
(Total Expenses - Total Reimbursements) / Total Months.