Overview
Ramp supports multi-entity businesses for NetSuite customers. Customers can add all business entities with a single Ramp account and set different payment settings for each entity.
This enables customers to:
- Generate individual statement payments for each entity/subsidiary
- Eliminates the need to perform inter-company transactions every time you close your books
- Track card transactions, payout reimbursements, and bill payments for each entity from different bank accounts
- Sync to multiple entities within one batch sync for both transactions and reimbursements
Create business entities
Note: We recommend connecting Ramp to your accounting system before creating additional Business Entities on Ramp. If you still need to connect Ramp to your Accounting system, then please navigate to:
- Here for NetSuite
To create business entities on Ramp:
- Navigate to Settings -> Entities
- Click "Create legal entity"
- Note: during setup, the default entity will apply to all existing transactions and reimbursements
- Fill out all "required" fields
- Note: when selecting the checking account you'd like to use to pay down the balance for this entity, the bank account must be verified on Ramp to be included as an option in the drop-down.
- Click "Create entity"
How business entities work on Ramp
With Users
When inviting a user onto Ramp, you must select the department and location to which the user belongs. Additionally, when setting up Multi-entity on Ramp, you must map Locations to Entities.
So, when inviting a user, select the correct location for said user since all of the cards will default to the entity corresponding to that location.
To see which users map to each entity:
- Click on Settings -> Entities
- Click the Entity
- Click Users tab
With card transactions
Each issued card is linked to a specific entity, with all transactions on the card attributed to this entity. The card's associated entity is determined at issuance, defaulting to the entity tied to the cardholder's designated location. However, this default entity can be modified during the card creation or editing process.
- Navigate to "Cards"
- Click on "Issue Spend"
- Select the card type
- Scroll to the bottom of the draw and click "Entity" drop-down
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Select the entity you'd like that card to map to
- Entity change will ONLY affect future transactions. In other words, the entity of a transaction is locked once a transaction is made.
With reimbursements
The entity of a reimbursement depends on the entity the user who submitted the reimbursement is in. There is no way to change this currently.
With statement payments
Statement payments will now be calculated at the entity level and paid out from the bank account specified in the entity settings. If an entity does not have enough funds to cover their expenses, we will default to the parent / default entity's bank account.
Edit business entities
- Navigate to Settings -> Entities
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Select the Entity you would like to edit
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Click "General" to change basic information or delete an entity
- For instructions on how to delete an entity please click here
-
Click "Users" to view who is a part of this entity
- For instructions on how to remove or add users please click here
-
Click "Payments" to change statement payment information
- For instructions on how to verify a new bank account click here
-
Click "General" to change basic information or delete an entity
Frequently Asked Questions
Can I have limits per entity and/or get underwritten per entity?
Currently, we cannot delegate limits by entity within one Ramp instance. Underwriting is also as a whole, not by entity.
How can I change the entity of a transaction?
Click into the transaction and then scroll to the entity field in the transaction drawer. Click the drop-down menu and change the entity of the transaction. Please note that this functionality is only available before the statement is generated. Once a statement is generated, the entity of the transaction is locked.
Why can't employees change the entity of transactions?
Please contact your account manager or support team to request this feature be enabled on your account.
What should I do if an employee or user spends across multiple entities?
Each virtual card is tied to an entity, and a user may have virtual cards that tie to different entities. Thus, if a user spends across multiple entities, the suggested setup is to have multiple virtual cards, one for each entity. This will make the statement payment and reconciliation process more seamless since if you had the option to move around the subsidiary; there is the possibility it doesn't match up with how it was paid out.
What happens if I change the mapping of a location (i.e. Location A now maps to Entity A instead of Entity B)?
Future cards will now default to the updated entities, however existing cards will remain untouched. To edit the entity of a card, click on the card -> select "Edit" -> Scroll to the bottom, and change the entity of said card. Note: this will only affect future transactions
Q: Can I get multiple physical cards, one for each entity?
A: You can only have one physical card per employee, and the business name and logo must be the same across entities
Can I split transactions across entities?
NetSuite does not allow this so you cannot do so within Ramp.
How do you delete an entity?
Please visit How to delete an entity on Ramp?
How do you remove a user from an entity?
Change the location of the user.
Why isn't this bank account showing?
The bank account must be verified in Ramp to appear in the entity's list of drop-down options.
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