![]() ![]() Cost Center Code: The internal cost center from your Chart of Accounts that expense is tied to.(Do not distress your accountant with nicknames) Vendor: The person or company’s full legal name that matches their W-8 or W-9.Expense Category: Category of the expense (Marketing, Travel, Professional Fees).Expense Date: The day, month, and year the expense occurred.It’s all in the details, so include as much context as possible for clear financial documentation. To edit categories in the future, add or remove text in the Source text field as neededĮdit the prebuilt categories for consistent business expense trackers Step 4: Fill the template with line itemsįinally, add each individual business expense as its own row.Repeat the same process for the other drop-down headers: Vendor, Cost Center Code, Payment Method, and Payment Status.Click Apply when you’re finished, and review your new list by clicking the dropdown arrow icon.(We recommend listing them in alphabetical order to make it easier to navigate!) Under the Source text field, rewrite the list to match the expense categories in your business.Go to the Menu Toolbar at the top, click Data > Data Validation, and a pop-up window will open.Click on the Office Supplies line item (cell B18), and the dropdown arrow icon will appear.Here’s how to lock in your categories via dropdowns: One misspelled expense type or cost code could throw everything out of balance. Dropdowns are a failsafe for error-free data processing and streamlined analysis. It serves a much-needed purpose of clean categorization and consistency across all company-wide transactions. The drop-down lists within the expenses spreadsheet template aren’t included to gloss over Excel’s, how do we say it, “bare” aesthetics. Use sheet headers to give context and clarity to budget reviewers Step 3: Set up expense categories Simply open the download file to follow along with the steps below! ![]() Overwrite the dummy data with your business expenses while keeping the built-in formulas. It already contains the standard tracking fields for dates/vendors/amounts and pre-built formulas to automatically sum totals by category. Rather than building an expense tracker from scratch, use our free Excel expense report template as a head start. ![]() Let’s jump right into the step-by-step guide! Step 1: Download our free expense tracker template With your essentials gathered, we have all the ingredients to customize an expense report template in Excel.
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