Expense Report Review Checklist
An expense report checklist for approvers and finance: check receipts, policy limits, tax details and duplicates before you reimburse employees each month.
- Typical schedule monthly
- The checklist 4 sections, 16 items
- Variables
{{month}}
Use this checklist for the monthly review of employee expense reports and company card spending, before reimbursements are paid and the expenses are posted. It suits small companies where a manager approves expenses and finance does a final check, whether expenses come in through a tool or as receipts in a shared folder.
Who owns it
Finance owns the monthly run and the final check. Line managers approve the business purpose of their team's expenses. Nobody approves their own expenses, and a founder's or director's expenses are approved by a co-founder, another director or the external accountant.
Common pitfalls
- Approving the total without looking at receipts. Managers often approve a report in one click. Finance should check a sample of receipts in every run, and all receipts above a threshold.
- Receipts that are not valid tax invoices. A card slip or an order confirmation may not support a VAT deduction. Ask for the proper invoice for larger amounts.
- Duplicate claims. The same expense is claimed by two people, or paid on the company card and claimed again for reimbursement.
- Policy that nobody has read. If people regularly break the same rule, the policy is unclear or unrealistic. Update it rather than rejecting claims one by one.
A scheduled monthly run in Runbook shows when each step was done and by whom. Adapt this to your jurisdiction and your expense policy; it is a practical checklist, not tax or legal advice.
The checklist: Expense review {{month}}
Collect
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Remind staff to submit all expense reports and card receipts for
{{month}}by the cut-off date -
Confirm every company card transaction in
{{month}}has a receipt and a business purpose -
Confirm each report is approved by the employee's manager, not by the employee
Check each report
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Check each line has a receipt, date, amount and business purpose
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Check amounts against policy limits for meals, travel, accommodation and equipment
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Check that receipts above your threshold are proper tax invoices with the supplier's VAT number
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Check entertainment and gift expenses list the attendees or recipients
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Check mileage claims show dates, routes, distance and the approved rate optional
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Check foreign currency expenses use the actual card rate or the policy rate
Look for problems
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Check for duplicate claims across reports and against company card transactions
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Review claims that are just under approval limits, split across reports, or lack itemised receipts
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Follow up on rejected or incomplete lines with the employee and the manager
Pay and post
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Code each expense to the correct account, cost centre and tax code
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Pay approved reimbursements through the agreed channel, such as payroll or bank transfer
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Post the expenses and reconcile the company card statements for
{{month}} -
Record recurring policy issues to review with management optional
Checklist as Markdown
Frequently asked questions
What should you check when approving an expense report?
Check that every expense has a receipt, a clear business purpose and falls within the policy limits. For larger amounts, check that the receipt is a proper invoice, and look for duplicates between reports and company card transactions. The manager confirms the business purpose; finance checks the formal details.
How often should expense reports be submitted?
Monthly is common, with a fixed cut-off a few days after month end, so expenses land in the right period for the close. Very frequent travellers may submit more often. What matters most is a consistent cut-off, because late claims distort the monthly figures.
How can a small company audit expenses without a dedicated team?
Check every receipt above a set amount, and take a sample of the rest each month, rotating between employees. Use an expense tool or card that collects receipts at the time of purchase. A short, clear policy and a consistent monthly review usually catch most problems.
Updated