Expense reporting for small business is an accounting practice that involves the identification, tracking and recording of expenses incurred in the day-to-day operations of the business. In other words, expense reporting is a way to keep track of and account for all the money spent by a company for different purposes and activities. With proper expense reporting, businesses are able to save time, as well as measure their operational performance and maintain records for taxes. Additionally, it helps keep costs under control and ensure accuracy. Employing proper expense reporting can help small businesses maximize their profits and remain competitive in their markets.