Different activities are involved in a business’s functioning. Some activities are in the category of “entertainment.” The company may need to carry out entertainment activities to function effectively. An employee or client may spend money from their pocket for entertainment expenses. These should be communicated to the company so that they can be reimbursed.
An entertainment expense report can do this. It will show the employer where the client or employee has spent money on entertainment for company purposes.
What is an Entertainment Expense Report?
This report lists expenses incurred by an employee or client they paid out-of-pocket and costs connected with a company-hosted entertainment event. It will give a record of the costs and a reimbursement request. You should see the company policy concerning which expenses can be incurred that are reimbursable and how soon you will need to submit this report following the end of the event.
The report will allow the employee or client to state the expenses they incurred for entertainment purposes linked to company operations. The report will help the employee communicate this information professionally and clearly to the employer. The employer will use the attached report and receipts to verify whether the expenses are valid and reimbursable.
Creating a detailed report
The report needs to be adequately made and include valid details if the employer is to take it seriously. The following points can be considered when making it:
Choose a good application
It will be better to type the report. This can be done in an application like Microsoft Excel, which can help you create tables and calculate the required calculations in the report. Give the report a heading like “Entertainment Expense Report” so the reader will know what it is about.
Details about employee or client
The personal details of the person who must be reimbursed must be present. This can include their name, post, contact information, etc. The reader needs to know the employee’s designation to see if the costs are ones that they are allowed to incur for the company.
Details about the entertainment activity
State what entertainment activity or costs have been incurred so the reader can understand this. You can give the event heading and a short description of it. Let the reader know the date that the entertainment event occurred.
Expense details
Here, you will state what items or services you purchased for the entertainment event. All of these need to be stated clearly. You will describe them and tell which vendor they were purchased from. You can also tell the date that they were purchased. The total amount of the product or service should be given next to it.
These details need to be present for all products and services included in the table. The end of the table can have the total expense incurred that is reimbursable. You should only include the details of the stuff that is reimbursable. The amounts that you state should be given with tax included. You should also include receipts of all the expenses because the employer can use these to see that you are telling the truth.
Signature information
To make this report valid, you need to include your signature. This can be at the bottom of the report.
A must-use tool for a company
The report will help an employee or client effectively tell the employer the reimbursable expenses due to a particular entertainment activity held for the company. The employer will use the report to see the expenses the employee incurred, which are reimbursable and connected to the activity.
A company needs to know these expenses so that no employee or client pays out-of-pocket. The company will have an idea of where money is being spent. They can decide whether the extra money is being spent on certain entertainment features and can cut down costs if needed.
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