We Answer: What Are Expense Reports? And Other FAQs.
A SAP Concur blog post answers common questions about expense reports, including: what is a travel expense report, what is an income and expense report, what should an expense report include, whether receipts are needed for every expense, who approves expense reports, what to do if an invalid or personal expense is found, and how to create an expense policy. It emphasizes that expense reports are the best way to manage and track employee business expenses, and receipts are non-negotiable for IRS audits. SAP Concur offers a free customizable expense policy template.
Impact and considerations
Expense reports are fundamental tools for corporate financial compliance and tax management. Clear expense report processes and policies help companies accurately track expenditures, avoid tax risks, and ensure timely reimbursement for employees.
Key points
- Expense reports are the best way to manage and track employee business expenses.
- Common business expenses include travel, client meals/entertainment, mileage, and supplies.
- An expense report should include employee name, total reimbursement amount, advances, and each expense's amount, date, and description.
- Receipts are required for every expense and are non-negotiable for IRS audits.
- Approval levels can vary by company size, from owner-only to department and finance manager review.
- When an invalid or personal expense is found, notify the employee via email with the reason for refusal.
- SAP Concur offers a free customizable expense policy template.
Sources and time
- Primary source
- SAP Concur
- Other sources
- 0
- First source publication
- 11 Jan 2023, 17:10
- Page published
- 14 Aug 2026, 08:27
- Last updated
- 11 Jan 2023, 17:10
- Original links
- SAP Concur Blog：We Answer: What Are Expense Reports? And Other FAQs. (opens in a new tab)Primary source · en · Published 11 Jan 2023, 17:10