An expense report is a list of all the expenses a business has incurred over a specific period of time. In some cases, it may also refer to a list of expenses incurred by a specific employee. The Canada Revenue Agency allows you to deduct almost all business expenses on your tax return, so it’s important to track expenses closely.
Apps can help you track expenses, and when you import this information to accounting programs, you can easily create expense reports. In addition to including expenses on your tax return, you also want to track them so you know where revenue is going. With the right strategies, that information can help you increase profit margins, lower spending and achieve other business goals.