What Is an Expense Statement?

by Keith Evans; Updated September 26, 2017
Expense statements itemize employee purchases.

Expense statements provide a way for employees to itemize expenses when requesting reimbursement from an employer. Though expense statements provide benefits for employers and businesses alike, many organizations encourage employees to exercise discretion when spending money.

Definition

An expense statement, according to a quick guide provided by the University of Maryland, is a detail of financial transactions itemizing expenses. Businesses typically use expense statements to reimburse employees who spend personal funds while traveling for business.

Benefits

An expense statement allows employees to quickly and accurately request reimbursement for expenses incurred during company business. From a business perspective, expense statements ensure the organization does not reimburse employees for non-reimbursable expenses or overpay during the reimbursement process.

Policies

Many companies provide expense statement policies that guide employee expenditures and reimbursement requests. According to the human resources website, Employee-Handbook, expense statement policies set some guidelines, but organizations must encourage individual employees to use discretion when making purchases.

About the Author

Keith Evans has been writing professionally since 1994 and now works from his office outside of Orlando. He has written for various print and online publications and wrote the book, "Appearances: The Art of Class." Evans holds a Bachelor of Arts in organizational communication from Rollins College and is pursuing a Master of Business Administration in strategic leadership from Andrew Jackson University.

Photo Credits

  • Checking credit card statement image by Elzbieta Sekowska from Fotolia.com
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