What is an expense report?

An expense report serves as a detailed document that outlines the various expenditures incurred by an employee or department, often during business-related activities. The primary purpose of this report is to request reimbursement for costs that have been personally incurred on behalf of the company or organization.

Typically, an expense report will list individual expenses such as travel, meals, lodging, and other relevant costs along with all necessary receipts and justifications for the incurred amounts. This ensures a clear, organized process for tracking and verifying spending, which is crucial for maintaining accurate financial records and accountability within the organization.

In summary, the focus of an expense report is to standardize the reimbursement process by providing thorough documentation of expenditures, making it a vital tool within the finance function of any business.