Probably the most challenging part of the business is handling the finances. Managing business expenses is a critical aspect of running a successful and profitable venture.
This is why keeping track of your expenses is crucial for your business’ success. Instead of hiring an accountant or a professional, you can handle your business expenses by yourself with the help of a business expense spreadsheet template.
In this article, we’ll discuss business expense spreadsheets, and we’ve also compiled some business expenses spreadsheet templates that you can use.
Table of Contents
What is a Business Expense Spreadsheet?
A business expenses spreadsheet is a digital document that allows you to record, categorize, and analyze your company’s expenses in a structured and efficient manner.
It typically consists of rows and columns, where each row represents an individual expense transaction, and each column represents a specific piece of information related to that transaction.
The purpose of a business expense spreadsheet is to accurately record and categorize expenses; businesses can gain visibility into their spending patterns, identify areas of cost reduction or optimization, and make informed financial decisions.
What a Good Business Expenses Spreadsheet Should Include?
A good business expenses spreadsheet should include the following:
- Expenses:Â The most important part of a business expense template is, of course, the expenses. You can either list them or put them in categories like fixed expenses, office supplies, travel expenses, and professional services. Categorizing them helps you analyze spending patterns and identify areas for potential cost-saving.
- Date and Description:Â It should also include columns for the date of each expense transaction and a brief description or purpose of the expense. This information provides context and helps you quickly locate specific expenses when reviewing or reconciling your records.
- Amount:Â You should include a section to enter the cost of each expense. It is crucial to record the expenditure to maintain precise financial records accurately.
- Payment Method: Include a column to indicate the payment method used for each expense, such as cash, credit card, debit card, or check. This lets you track different payment methods and reconcile your records with bank statements.
- Vendor/Supplier Information:Â You can also add a column to record the name of the vendor or supplier from whom the expense comes from. This information will help in vendor management, tracking relationships, and future reference.
- Tax information: If applicable, there can also be a column to indicate deductible tax information for each expense. This information is vital for tax planning and filing.
- Subtotals and Totals: At the end of the rows or columns, you should have the totals and subtotals for each category. Google sheets have formulas that can calculate the subtotals and totals for you to make your work easier. This provides a clear summary of expenses and facilitates budgeting and financial analysis.
- Periodic Summary:Â Include a section to summarize monthly or periodic expenses. This allows you to monitor spending trends, compare actual expenses against budgeted amounts, and make informed financial decisions.
You can also add things like Charts and Graphs for a quick overview of expense patterns and budget comparisons of previous periods.
How to do a Business Expense Spreadsheet in Google
Creating a business expense sheet in Google Sheets is a straightforward process. Here’s a step-by-step guide to help you get started:
- Open a blank spreadsheet in Google Sheets.
- Rename the first sheet by double-clicking on the tab at the top and giving it a suitable name, such as Expense Sheet or Business Expenses.
- Add a section for the date and details of the person submitting the expense spreadsheet.
- Set up the column headers in the first row with the necessary information. Common column headers may include Date, Category, Description, Payment Method, Vendor, and Amount.
- Adjust the column widths as needed.
- Start entering your expense data in the appropriate columns. Add new rows as needed to accommodate additional expenses.
- Format and Style the Expense Sheet however you wish.
You can apply formatting and styling, like font styles, colors, and cell backgrounds, to make it visually appealing and easier to navigate.
- Add Formulas for Calculations. For example, you can use the SUM function to calculate the total expenses for a specific period or the SUMIF function to calculate the total expenses based on a particular category.
Once you’re done, you can print or share your spreadsheet with your colleagues by clicking on the share button at the top right of the window.
Expenses Spreadsheet Templates
Below are some business expense tracker templates that you can use in Google Sheets:
Simple Expense Sheet Template
The simple expenses template is a versatile expense tracking template that can be used for different business purposes.
This template includes the following:
- Employee details
- Date
- A list of expenses
- Description for each expense
- Seller or vendor
- Account for how the expenses were paid
- Amounts
- Budget, Totals and balance
This template can also be used as a trucking expenses template.
Monthly Expense Spreadsheet
The monthly expense spreadsheet template is a spreadsheet that details the business expenses for each month for an entire year.
This template includes the following:
- Employee details
- Date from and to
- A list of expenses
- Each month’s cost for each expense
- Totals
- Sparkline for each expense
The sparkline is a small chart at the end of each expense that lets you visually compare the cost for each month. To copy the sparkline to the rest of the rows, simply click the cell and drag the little circle at the bottom right to the cells you want.
Our template also has pre-filled formulas so that once you fill in the table, the formulas are calculated automatically.
Free Small Business Spreadsheet
The free small business spreadsheet for income and expenses. This is a great spreadsheet for business expense management.
This template includes the following:
- Income section with the monthly income
- Fixed expenses section
- Supplies section
- Flexibles expenses section
Each section contains a description of the expense, the budgeted cost, the actual cost, the payment method, and the totals.
You can also adapt this template for an independent contractor’s expenses template.
Why Should You Use Our Business Expenses Templates?
Here’s why you should use our business expense sheet templates:
- Our templates we’ll take the stress of having to make your own expense spreadsheet from scratch off your hands. This will save you time and effort.
- The templates are also well organized so that you can easily keep track of your business expenses effectively.
- With our templates, you have access to the expense spreadsheet all the time on any device since they are on Google Sheets.
- Our templates are also very versatile, and you can even download them and use them as business expense tracker Excel templates.
- Our templates are also professionally designed so that you can use them in your business meetings and during your presentations.
Why Use Google Spreadsheets For Business Expenses?
Most of our templates are meant for Google Sheets, and you’re probably wondering why. That’s because Google Sheets offers several advantages for managing business expenses:
- One of the greatest benefits of Google Sheets is that it’s a cloud-based platform that is accessible from any device with an internet connection. This means that you can access and update your expense sheet anytime, anywhere.
- Additionally, Google Sheets supports real-time collaboration, enabling multiple team members or stakeholders to work on the expense sheet simultaneously. This feature is particularly beneficial for businesses with remote teams or those who need to share financial information with accountants or managers.
- Google Sheets is surprisingly very easy to use, and it provides a user-friendly interface with intuitive tools and features. You don’t need to have advanced technical skills to create and manage your expense spreadsheet. The workspace has a familiar spreadsheet layout and functions that make it easy to input, organize, and analyze your expense data.
- Let’s not forget that Google Sheets automatically saves your work as you go. The saved  files automatically go to your Google Drive for storage and easy access. This ensures that you never have to worry about losing your expense sheet due to computer crashes or other technical issues.
- Google Sheets seamlessly integrates with other Google Workspace applications like Google Docs, Google Slides, and Google Forms. This integration allows you to import data like texts, tables, and charts from other sources, collaborate on related documents, and generate reports or presentations based on your expense data. You can combine your expense spreadsheet with a report or a slide presentation easily.
- Google Sheets provides a wide range of customization options to tailor your expense sheet to your specific business needs. You can create custom formulas, apply formatting rules, and set up data validation to ensure accurate and consistent input. Moreover, you can automate certain tasks by using built-in functions or creating scripts with Google Apps Script.
- Google Sheets also lets you see real-time updates once your share your spreadsheet so that you can see changes made by others instantaneously. This feature is useful when multiple team members are working on the expense sheet simultaneously.
- You can use the free version of Google Sheets, which provides access to essential tools, including Google Spreadsheets, without additional expenses. As your business grows, you can consider upgrading to a paid plan for additional features and storage, which is pretty cheap.
Final Thoughts
Staying on top of your business finances is simple with a business expenses spreadsheet. In this article, we’ve not only given you some templates for business expense spreadsheets, but we’ve also discussed the benefits of using Google Sheets for your expense spreadsheet.
With the promo code SSP you can also save 50% off of all templates in our premium library. Check out the link below.
Related:
- Profit and Loss Templates for Google Sheets
- Free Google Sheets Accounting Templates
- Free Purchase Order Template for Google Sheets (+ How to Use)
- Free Assignment Tracking Template for Google Sheets
- The Best Google Sheets CRM Free Template [+ How To Use]
- 5 Free Google Sheets Accounting Templates You Need Today
- 5 Best PPP Loan Forgiveness Spreadsheet Templates
- 6 Best Accounting Spreadsheets for Your Business
