As you plan for the next quarter and start deciding how to manage your team’s budget, it’s essential to be able to easily visualize all your expenses and finances.
While the finance team is there to make sure everything is on track, effectively preparing and strategizing resources requires a real understanding of your team expenses. That’s why so many companies are using platforms like monday.com for expense templates that help organizations easily manage all their finances without having to build solutions from scratch – every team can simply plug in their numbers in one organized place. To start utilizing your free template, click here.
What is an expense template?
These templates are designed to help you track and record all your company finances with a strategic pre-built structure. It’s built so every stakeholder can easily see what was purchased, why it was purchased, who made the purchase, and how much was spent. This ensures no important costs fall through the cracks and makes it easy to effectively plan future budgets.
While the types of expenses teams track vary, most budget-related templates have:
- rows for every expense item
- columns for dates, vendors, amounts, and unit costs
- expense descriptions
- columns for methods of payment
- formulas that automatically calculate expenses
Why are expense templates a must-have for businesses?
Make better financial decisions
The ability to visualize all your business expenses helps you strategically plan and divide all your resources.
When every stakeholder has visibility, you don’t need to send long email updates about changes in budget or try to track down who made various charges.
Save time and money
With built-in formulas that calculate totals and averages, you save lots of time and avoid any risk of error.
Identify unusual expenses
When you can easily visualize all your data in one place, it’s easy to spot any strange payments to quickly investigate any unauthorized spending.
Which ready-made finance template does your team need?
Business Expenses Template
Get the guidance you need for financial reporting with pre-built formulas, powerful automations that keep everyone updated on changes in real-time, and clear dashboards that offer essential insights on your business spending.
Budget Tracking Template
Gain more control over your finances with a template that lets you easily compare your actual expenses versus your budgeted amounts, get a clearer picture of your available expenses, and set up strategic automations to instantly notify team members on budget updates.
Financial Accounting Template
Manage your outstanding balances and due dates in a clear and easy way. This template lets you record and track the number of payments being made and set clear deadlines for final payments.