Auto-generated receipts are digital versions of paper receipts that are automatically generated on the customer's behalf. Ramp built this feature for the following reasons:
- Hassle-free for Employees — Save employee time by creating digital receipts that automatically get created and attached to all card transactions under $75.
- Comprehensive & Compliant — Contains relevant info about the transaction such as items purchased, prices, and merchant information
- Coverage for Common Vendors — Works for transactions from common vendors such as major airlines, Amazon, Best buy, Staples, and more.
Are auto-generated receipts compliant with the IRS and audits?
When merchants share certain transaction details through the card network -- like items purchased -- Ramp gathers this information to reconstruct detailed receipts that meet IRS and audit requirements.
The IRS requires that receipts for business expenses include the following information:
- Date of the expense
- Amount of the expense
- Description of the expense
- Name and location of the business where the expense was incurred
- Method of payment
How do I use auto-generated receipts at Ramp?
Ramp automatically creates a receipt on your employee's behalf so that they no longer need to upload receipts under $75 manually. This must be turned on by an admin at the company-level settings.
Here's how to turn it on:
- Navigate to settings
- Click on "Spend Controls"
- Click "Advanced Rules"
- Toggle on "Auto-generated Receipts"
Here's how it works:
- An employee spends money on any Ramp card
- An auto-generated receipt is created for the transaction within a week
- The receipt is automatically attached to transactions and the submission policy requirement for an uploaded receipt is dismissed
Auto-generated receipts are only available for common merchants that share certain transaction details through the card network. Receipts will only be generated if a transaction does not already have a receipt attached and regardless of whether a receipt was required.
How does Ramp generate a digital receipt?
The data for auto-generated receipts is sourced from the transaction information that is captured at the point of sale or payment.
For example, when a customer makes a purchase at a retail store, the transaction data is typically captured by the store's point of sale (POS) system. This data can include the date and time of the transaction, the items purchased, the price of each item, any discounts or promotions applied, and the method of payment. This information is then transmitted to the merchant's payment processor, which may generate an auto-generated receipt.