An expense report is a documentation of expenses made by an individual or company on several needs. The report is made including all the expenses made for the specific purpose so that it becomes tax deductible. The purpose of expenditure is marked in specific categories so that any calculation or accounts remain useful. Reports can be made using different software and tools in quick time and it offers easy access and saves time and money. Expense reports are maintained for proper records and it is much required for accounting. These reports have come up in different forms and people maintain reports according to their purpose. For instance, in any business a small amount spend on travel or food is also accounted under business expenses. It’s a systematic way to maintain expenses.
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