Expense management for fleet businesses

Automate your expense management

Expense reports are frustrating. And yet, 1 in 2 fleet businesses still haven’t found a better way. Coast helps you accurately control your team’s spending, saving you hours of admin work. Create and enforce custom policies, track finances and expenses, and reconcile transactions, all with one tool.

Request a Demo

See interactive demo

How Coast helps you eliminate expense reports

Step 1
Set customized spending rules
Set limits by users, department or location, and enforce them automatically.

Step 2
Capture receipts and transaction details instantly
Employees effortlessly attach receipts and transaction details right when purchases occur, ensuring immediate compliance.

Step 3
Review expenses and sync in seconds
Review transactions in real time, automate your transaction coding, and export to your account system in seconds.

Control your spend. Speed up your month-end close.

average savings per year on card spend

0.0 days

saved on month-end close

faster to manage expenses

We’re now collecting close to 100% of receipts, up from just 50% before.

Bruce Schulbaum

Founder at Venture Window

Our AP clerk now has time to focus on other things. She’s expanded her position—she’s doing training, learning more, and backing up other people.

Sania Salas

EVP of Business Operations at KD Construction

The Coast team didn’t just hand us a tool, they worked with us to automate accounting, integrate with NetSuite, and tailor it to our needs.

Emilio Solis

Account Manager

A process every team can get behind

Finance team

Coast helps you review, track, and reconcile your expenses in a fraction of the time, so you can focus on moving your business forward.

Employees

No more slow processes, tedious expense reports, or waiting to be reimbursed. Just use your Coast card, add the receipt and job code with your phone, and you’re good to go.

Frequently Asked Questions (FAQs)

Have some questions? We’ve got you covered!

What are some of the most common challenges in expense management?
Common challenges in expense management include:

Lack of visibility: Difficulty in gaining real-time insights into spending patterns.

Manual processes: Relying on “20th-century” processes such as paper receipts, spreadsheets, and manual data entry can lead to errors, delays, and inefficiency.

Unclear expense policies: Employees may not understand what is reimbursable or within budget, leading to out-of-policy spending.

Lost or missing receipts: Claiming expenses without receipts can cause issues with the IRS and other federal, state, and local requirements.

Slow approval workflows: Bottlenecks in the approval process can delay purchasing, postpone reimbursements, and frustrate employees.

Employee expense fraud: Both intentional and unintentional fraud can cause big problems within your business.

Disconnected systems: Using multiple, unintegrated systems for different aspects of spend can reduce transparency and lead to overspending.
How can I improve my expense management process?
Create a spending policy: Start by establishing a comprehensive, easy-to-understand expense policy that outlines all aspects of potential spending, including allowable expenses, spending limits, required documentation, and approval workflows (for both purchasing and reimbursement).

Bring spending under one platform: Whether you operate off of an employee reimbursement program or issue company credit cards, it’s best to keep all spending on one platform. This makes it easier to track, manage, and organize expenses throughout the business.

Automate expense management: Implement expense management software like Coast to streamline tracking, reporting, and payment. This minimizes manual errors and speeds up processes.

Implement real-time tracking and reporting: Use software that provides real-time visibility into spending, allowing for immediate adjustments and better control.

Educate your team: Provide clear training and resources on expense policies and the use of expense management tools.
How long should I keep expense management records?
The amount of time you should keep financial records, including expense management records and expense reports, is often dictated by a combination of federal, state, local, and tax regulations.

Consult with your business’s legal and accounting advisors to determine the appropriate retention schedule for your jurisdiction.

As a general rule, keep all expense management and income records that support an item of income, deduction, or credit on your tax return for at least three years from the date you filed your original return or 2 years from the date you paid the tax, whichever is later.
What’s the difference between expense management and spend management?
The terms “spend management” and “expense management” are often used interchangeably, but each term has its own unique meaning.

Spend management focuses on controlling the broader picture of business spending. It refers to the strategic, ongoing process of identifying, understanding, and controlling spending.

Expense management focuses on controlling the individual line-item expenses initiated by the business and its employees. It refers to the process involved in paying and auditing employee expenses.
How does Coast integrate with accounting software?
The Coast smart card offers seamless integrations with popular accounting platforms like QuickBooks Online, NetSuite, and Sage Intacct.

This allows you to import income and expense categories automatically from your accounting software and assign them to Coast transactions for easy and fast month-end reconciliation.

With Coast, you can even sync your receipts and memos directly into your accounting software. Click here for even more information on how Coast integrates with common accounting software, but also telematics, and fleet management software.
Can I issue virtual cards with Coast?
Yes, you can generate unlimited virtual cards for free. Virtual cards offer enhanced security and control for online purchases, at in-person suppliers, or for recurring expenses both online and off.

You can even set tailored spending limits and ensure uninterrupted payments when the business is closed or team members are away.

For more on how Coast virtual cards can save you valuable time and money, check out this article from the Coast blog: How Coast Virtual Cards Can Help You Streamline Your Business Expenses.
Does Coast offer receipt capture?
Yes, Coast offers this powerful tool. With receipt capture, employees can submit itemized receipts directly through their phones. The receipts are then matched to the corresponding transaction for easy reconciliation.

Employees can also attach notes and job codes to the transaction to make categorizing and organizing expenses even easier. You can even set up automated reminders to prompt employees to submit their receipts so you can achieve 100% collection.

For more information on how your business can benefit from automated expense management, including receipt capture, check out this article from the Coast blog: Expense Management Automation: What It Is & Why You Need It.

Introducing Coast Rewards

Automate your expense management

How Coast helps you eliminate expense reports

Control your spend. Speed up your month-end close.

A process every team can get behind

Finance team

Employees

Frequently Asked Questions (FAQs)

What are some of the most common challenges in expense management?

How can I improve my expense management process?

How long should I keep expense management records?

What’s the difference between expense management and spend management?

How does Coast integrate with accounting software?

Can I issue virtual cards with Coast?

Does Coast offer receipt capture?

Drive your fleet with Coast

Finance team

Employees

What are some of the most common challenges in expense management?

How can I improve my expense management process?

How long should I keep expense management records?

What’s the difference between expense management and spend management?

How does Coast integrate with accounting software?

Can I issue virtual cards with Coast?

Does Coast offer receipt capture?

More receipts. Less headaches.

Accurate job costing

Accelerate month-end close and simplify accounting

More receipts. Less headaches.

Accurate job costing

Accelerate month-end close and simplify accounting