Automated Expense tracker template in Excel

Expense Tracker Template Excel cover image

Written by Aaron Van Goethem

Jun 2, 2021

Organizations have a lot to gain from keeping a tab on their employees’ expenses. As such, it is generally better to keep track of expenses over time than waiting for the receipts to arrive at the end of the month. In companies with large sales teams that do a lot of traveling, incurred travel expenses can quickly pile up. Moreover, companies prevent unpleasant surprises by having a reliable tool in place to track expenses in real-time.

In many SMEs, implementing a formal system for submitting and reimbursing expenses is not a top priority. Usually, employees simply submit their receipts at the end of the month, which often results in a lot of manual work for accountants or the person responsible for handling expenses.

While there are a lot of software solutions available to track expenses, most of these come with a hefty price tag or steep learning curve. Instead, using an expense tracker template in Excel provides companies with an easy and reliable way to track expenses in real-time.

Why use Microsoft Excel to manage expenses?

  • Flexibility: It is possible to customize Excel spreadsheets to your company’s needs and requirements. Indeed, online spreadsheets allow you to create a versatile expenses submission and tracking system. No coding skills are required to adapt and customize the expense tracker template in Excel.
  • Accessibility: Microsoft Excel is cloud-based so your colleagues can submit expenses from their laptop or mobile at any time, even when they’re on the road. Accordingly, administrators can process expenses quickly and easily.
  • Compatibility: Microsoft Excel is easily compatible with other software that your company might be using. Therefore, data is easily imported into Excel spreadsheets.
  • Easy to use: Many of your employees are probably familiar with spreadsheets and if they are not, it is easy to train them. Indeed, using an Excel-based template is ideal for beginners and advanced users alike.
Expense Tracker Template Excel dashboard 1

What you get with this template

  • Three Individual expenses spreadsheets. Share these files with the team members who will submit expenses and make as many copies as you need for additional staff. Each employee uses their copy of this spreadsheet to submit expenses, share receipts, and monitor their own spending.
  • One Team Expense tracker master sheet, for the administrator or company accountant. In this file, they receive expenses submissions from across the company. The automated dashboard projects a visual overview of expenses per day, month, expense type, and individual.
Expense Tracker Template Excel workflow 2

How to get the Expense tracker template in Excel

Click below to install Sheetgo’s expense tracker template.

  1. Login to Sheetgo with your Google, Microsoft, or Dropbox account.
  2. Click Install on Onedrive or choose your preferred platform from the drop down list.
  3. Please allow a few moments as Sheetgo creates the connections and saves a copy of the template files to your chosen account.

How to use the Expense tracker template in Excel

Step 1: Share the Individual expense tracker spreadsheets

Double click one of the Individual expense tracker files in the main workflow. The spreadsheet now opens in a new tab. Please note that the template contains sample data that you can overwrite.

Simply click the green Share button at the top right of your screen. If you prefer working directly inside the Excel application, open the template in Excel by clicking Open in Desktop App.

 Expense Tracker Template Excel share 3

Step 2: Colleagues enter their expenses

When a member of staff pays for something that they need to put on their expenses, they should record it in the Expenses tab in their personal spreadsheet.

In Column F they can enter a link to a photo of a receipt that they have uploaded to their chosen cloud-based platform.

Expense Tracker Template Excel Step 2

Step 3: Update the workflow

Import your colleagues’ data into the master sheet by updating the Sheetgo connections in the template.

Go back to your main workflow view and click Run in the menu bar.

Expense Tracker Template Excel update 4

Step 4: Automate the workflow

Once your colleagues are regularly submitting their expenses into their spreadsheets, there is no need to run the workflow manually. Instead, you can schedule automatic updates to run at regular intervals.

In the main workflow view, click Automate instead of Run and select your preferred time schedule for updates.

Expense Tracker Template Excel automate 5

That’s it!

Your Expense tracker Template in Excel now is up and running, congratulations!

Looking for more Excel finance templates ?

Sheetgo has a large range of templates available. Check out our income statement template in Excel and discover how Sheetgo helps you automate your entire finance department.

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