What is expense report?

4 Answers

• An expense report is a form that an employee fills out. They list all expenses they have paid out of there pocket for work purposes. Let’s say I go on a business trip and I pay for my airline ticket, meals, hotels, rental car, etc. out of my own pocket. I would then fill out an expense report listing all these costs and turn it into my employer. They would then reimburse me for these costs.

• What Is An Expense Report

• An expense report is a list of what you have paid or consumed on certain particular period. In accounting, those will be further classified according to its purpose like Expenses on Selling, Administrative, Marketing, etc. It does not always have to be paid in cash, it would also include those that were charged to credit/account. It is also important that the expenses are recognized when it was incurred and not when it was paid (based on accrual accounting). However, for Cash Accounting, all expenses are recorded when it was paid.

  Hope this help. 😉

• What is Expense Report? and Template?

  The Template is the Expense Items on an Employee, the Expense Report gives the Anticipated Expenses of an Employee in Your Organization.Use the Expense Reports window in Payables to enter expense reports for your employees. You can also use this window to review and modify expense reports that you entered in the Expense Reports window, that your organization’s employees entered in Oracle Web Employees, or that you have transferred from Projects. You can apply advances to expense reports to reduce the amount you pay. You can also apply a hold to an expense report to prevent payment. Before you can pay expense reports you must submit the Payables Invoice Import program to have Payables automatically create invoices from the expense reports. You can then create journal entries for posting to your general ledger.

  The following are the steps you follow to process an expense report:

  1. Enter employees, their locations, and their expense addresses in the Enter Person window.

  2. Define the employee as a supplier using either of the following methods:

  – Enable the Create Employee As Supplier Payables option to automatically create suppliers from employees when you submit Payables Invoice Import

  – Enter the employee as a supplier in the Suppliers window before submitting Payables Invoice Import for expense reports.

  3. Define expense report templates that model the different expense report formats you receive.

  4. Enter expense reports.

  5. Submit Payables Invoice Import to create invoices and invoice distributions for the expense reports. Review the Invoice Import reports, then correct any expense reports that caused exceptions and resubmit Payables Invoice Import.

  6. Pay the invoices.