A travel expense form is a formal document used by businesses and their employees to keep track and report their expenses for business-related travel. The form is usually a printed in the form of spreadsheet, filled out and kept for accounting and tax purposes. It is important to keep track of any expenses that are tax deductible in regards of the travel expense.
Common Contents of Travel Expense Form
The most common tax-deductible travel expenses may include flights, car rentals, mileage, lodging, meals, tips, and dry cleaning. It is important for employers to note that when they use a travel expense report, they should submit copies of receipts along with the report so an adequate record for tax purposes can be kept.
Non-Employee Travel Expense Form Payment
Sample External Recruitment Travel Expense
Sample Vehicle and Travel Expenses
Standard Travel Expense Form
Travel and Professional Development Expense Reimbursement
Travel Expense Form Statement
Travel Expense From Report
Travel Expense Report Form
Worker Travel Expense Form
Conducting business can lead ancillary costs. From meals to transportation, employees can rack up company expenses in a short time.To make sure that the money spent on the costs are compliant with your expense reimbursement policy, you’ll need to document them.
An expense report tracks all costs related to travel such as meals, training, transportation, and other incidentals related to the operation of a business.Expense reports are filled out monthly, and sent to the company’s finance and accounting division for reimbursement.
How To Create Travel Expense Form in 6 Easy Steps
An expense report commonly has the following information.
- Name, department, and contact information
Any travel expense form needs the name and contact information of the employee. Your employer will need to know which department you’re in to add context as well as to organize all of the expenses from different employees by department.
- List of itemized expense names
You need to list out specifically any expenses from the trip. Simply addressing your last business trip by the label “food costs” under one large sum of money won’t cut it. You’ll need to name your expenses so they can be distinguished and can provide a clear context.
- Total amount spent
Your expense report should include the total amount that was spent from all of the items it contains. Typically, expense management software should do this automatically. If your expense report software or format does not automatically add up your total spend, simply add it beneath all of the individual costs that you listed on your report.
- Purpose of the expense
Each expense requires a purpose. For example, all of the expenses relating to a marketing conference trip to San Francisco could have a purpose of “Marketing Conference SF 2019.” Including a purpose for each itemized expense helps determine the business value of your transactions so you can be reimbursed.
- Cost of item
Ensure when listing the cost of each individual item is what should be expensed to the company. For example, if you purchased a flight with a credit that you received from an airline from a delay on a previous flight that was also booked via company money you should only reimburse the part of the cost that was paid for without this credit.
- Space for approval
There should be a space for the accounts payable department to sign off on the approval of your expenses at the bottom. Once they approve the report, it should only take about one to two weeks for your expenses to be reimbursed.
Filling out all of this information on your travel expense form should be no problem as long as you keep track of your business expenses. With everything listed out in an orderly fashion, you’ll be on your way to approval and reimbursement from your company in the most efficient manner possible.