1. Accounting details and summarization of all expenses posted by a company in a specific time-period. A detailed report produced monthly, quarterly, or yearly for parts or all of the business. Subsections in the report decompose the total into smaller subsets of the business, like a department or a group. Helps the company to identify the cost of that area to the company. Maintained with the highest accuracy clearly identify any money that is spent and unaccounted. Yearly expense reports are required for tax purposes by the Internal Revenue Service. 2. Accounting details and summarization of all expenses posted by an employee in a specific time-period. An employee to be reimbursement must track any money spent .Detailed log of expenses is recorded and submitted to the employer Deductible expenses may exist for both the employer and the employee based on this reporting and their yearly tax return form.
What is EXPENSE REPORT?
Featuring Black’s Law Dictionary
Nothing implied or stated on this page should be construed to be legal, tax, or professional advice. The Law Dictionary is not a law firm and this page should not be interpreted as creating an attorney-client or legal adviser relationship. For questions regarding your specific situation, please consult a qualified attorney.
- Best Way to Find Someone in Jail for Free
- What Is A Police Welfare Check?
- How Do You Look up License Plate Numbers?
- Best Way To Run A Free Arrest Warrant Check
- Signing a Letter on Someone Else’s Behalf
- Best Way to Write a Professional Letter to a Judge
- How To Find A Name & Address Using A License Plate Number
- How To Find An Inmate’s Release Date
- How to Transfer a Car Title When The Owner Is Deceased
- What Rights Do Convicted Felons Lose?