ExpenseBay Helps You Deal With the Horror of Expense Reports

Typically corporate trips are great – you get to use someone else’s credit card for travel and meals. There’s only one time that corporate travel sucks – and that’s the time it takes to put together the expense report for the trip. As a former accountant and auditor, I got the bonus of having to review and let employees know when their steak and vodka was over the corporate limit.

Startup ExpenseBay aims to make reporting expenses easier and less painful. ExpenseBay allows you to connect to your personal or corporate credit card. Your transactions are downloaded into ExpenseBay and then you can assign them as needed into the different categories (e.g. meals, hotels, escort services, etc.). The mobile app also allows you to note cash transactions as they happen which is typically the biggest issue with expense reporting. 

You can attach receipts into each expense transaction which makes it easy to submit the expenses once complete. In addition, expenses can be submitted into your account via email.

ExpenseBay connects directly with some of the popular corporate accounting and expense reporting packages. They can also provide in-house company expense report management.

There’s a free basic ExpenseBay account — the premium accounts include the mobile version for $5/month and the pro version for $10/month which includes the accounting software integrations.

For a funny bit, have a look at how they explain their TripIt integration. Part of the explanation includes, “Pellentesque habitant morbi tristique senectus et netus et malesuada fames ac turpis egestas. Vestibulum tortor quam, feugiat vitae, ultricies eget, tempor sit amet, ante.” Update: The interesting text has been replaced with typical English text.

With a strong marketing and bizdev staff, I could see ExpenseBay doing very, very well.

ExpenseBay is located in Santa Monica and has seven employees and additional contractors. The service is currently available only in the U.S. – I assume this has to do with the credit card transaction download. Here’s a video overview of how the service works and check out the company interview with RWW’s Jolie O’Dell.