Customers can streamline their accounting process by matching and syncing transactions made using their Ramp Cards to open bills in their accounting provider.
Simplified accounting: Matching and syncing transactions to open bills in your accounting system reduces manual entry and errors, making the accounting process more efficient.
Enhanced financial management: Gain better visibility and control over your expenses by keeping accurate records of bill payments made with Ramp Cards.
How does this work?
Ramp will show open bills that match transactions within the Accounting tab based on:
Vendor name matching an outstanding bill vendor
Payment amount matching outstanding bill amount
If a transaction matches an outstanding bill in your accounting provider, then Ramp will surface for your review.
You will have the ability to match the transaction to Bills from your accounting provider.
Once a transaction is matched to a bill this will be reflected into the Accounting tab.
Decrease the Bill AP
Increase to the Credit Card AP
This will not show up as a credit card expense, but it will hit the Credit Card account. Therefore, this expense will be pulled into any report that looks at the Credit Card Liability account.
1. What is the Match Transactions to Open Bills feature?
Match Transactions to Open Bills is a feature that streamlines your accounting process by allowing matching and syncing transactions made with Ramp Cards to open bills in your accounting provider.
Note: This feature is limited to bills that were created in your accounting provider. Therefore, it won't apply to open bills created in Ramp.
2. How does Match Transactions to Open Bills simplify the accounting process?
By matching and syncing transactions to open bills in your accounting system, this feature reduces manual entry and errors, making the accounting process more efficient and saving time for your accounting team.
3. How does the matching process work?
Ramp matches transactions based on the vendor name and payment amount. If the vendor name in a transaction matches an outstanding bill vendor and the payment amount matches the outstanding bill amount, Ramp will surface this match for your review.
4. What happens after a transaction is matched to a bill?
Once a transaction is matched to a bill, this information will be reflected in the Accounting tab in your Ramp account. This allows for enhanced financial management and visibility over your expenses.
5. Can I match a transaction to multiple open bills?
Yes, the Match Transactions to Open Bills feature allows you to match a transaction to multiple open bills. If you need to allocate a transaction to several bills, simply select the relevant open bills during the matching process in your Ramp account. This will help you maintain accurate records and better manage your expenses.
6. Can I match multiple transactions to an open bill?
Currently, the option to match multiple transactions to an open bill is not available within the Ramp product. In the meantime, you can create a separate bill for each transaction. You can upload the same invoice for each bill created and edit the invoice amount within each bill. You can then match each transaction to their respective bill from there.
7. What bills do we pull into Ramp from your accounting provider?
A: We only pull in USD bills. When you view bills for a transaction, there's an additional filter where the bill must be in the same entity the transaction is in AND the bill must have a $ amount equal to or smaller than the transaction.
Note: For customers using Sage Intacct, who are a multi-currency customer, bills cannot be matched at the top level for the credit card. These bills have to be opened and created at the entity level.
8. Why am I receiving the error "Invalid Bill type" when syncing a matched bill?
A: The reason for this error is because the Bill you are matching the transaction to either 1) no longer exists in your accounting provider or 2) has already been paid in your accounting provider. If this is the case, then the workaround is to unmatch the transaction in Ramp.