Travel Business Template in Excel: Free Download

by | Dec 4, 2018 | All Great Easy Ways To Save Tax And Good Deductions | 0 comments

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Travel Business Template in Excel: Free Download

There are certain mainstay items that you will need to account for when planning a business trip. Transportation and lodging will be your largest expenses, but little items such as meals and fares around town can add up quickly and make even the best laid budgets go awry. This is why it is important to budget for all expected expenses.

This travel business template that can be downloaded here from Bright Hub’s media gallery contains these common travel expenses, all of which are currently deductible under the IRS rules:

While the template is set up to track IRS deductible expenses, you can always modify the spreadsheet to include non-deductible expenses. For example, you may have a category for “entertainment” to cover a non-deductible expense incurred during a meeting or social at a nightclub, theater, or sporting event.

The template, which was created in Excel 2010, has a number of built-in features to make aggregate calculations easier by consolidating the estimated budgets of up to six employees and alerting you when the estimated budget is getting too close to the allotted budget.

The amount or the total alloted budget is entered into cell C3 on Worksheet 1, which for our sample template is $3,000. The last column (Column C) calculates a running total as each expense is entered and the last cell in the column C shows whether and by how much the estimated costs exceeds the allotted budget.

Each budget tracks expenses over a one week period from Sunday to Saturday and these figures are automatically fed directly into the consolidated budget. Tracking expenses in a weekly log is useful, especially when arrival and departure times vary among employees because different itineraries. Travel arrangements for VIP members may also require special treatment as upgrades for transportation and lodging may apply.

Alert for Budget Short Falls

The template contains an early warning feature that uses conditional formatting to alert the travel planner when the estimates have exceeded 90 percent of travel budget. In the sample template, cells in the last column will be formatted with light red fill and bright red text red when the expenses reach 90 percent of the allotted budget. Having a cushion of 10 percent provides some leeway for unexpected expenses and gives the person making the arrangements an opportunity to shop around for discounts. However, the 90 percent level is arbitrary and can be changed by resetting the conditional formatting in the last column of the budget to: “value is greater than =$C$3*(choose a percent).”

Reminder to Check for Discounts

The template includes an example of a pop up reminder that warns the planner to check for discounts when an amount exceeding $100 has been entered for the lodging of Employee 1.

Other reminders can be added to the template to follow company policies regarding other expense limits. In Excel, reminders are set up by using the data validation tool. Simply, select the cells and then click on the Data Tab and then select Validation. From Settings choose Custom and then type in the formula that will capture your parameters. The sample template uses “>100.” After setting the formula, choose an Error alert and then type in the warning message in the Title and Description. For example, the example template includes the message: “Check for Discounts.”

Special discounts, such as frequent flyer miles and group rates for hotels, can keep a budget within its target and should be investigated thoroughly along with other saving opportunities. By starting with this travel business template, you will have a useful tool to plan your travels in advance and determine when cost cutting initiatives need to be taken.

If you’re looking for sample forms and downloadable templates, check out Bright Hub’s resource guide Over 50 Free Project Management Templates and Sample Forms.

Travel Business Template in Excel: Free Download

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