Overview
Ramp simplifies the GL categorization process by using the reason provided by cardholders to accurately predict the appropriate GL Account for each expense. This feature enhances accuracy, streamlining employee categorization while making reviews quicker and easier for accountants.
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How it works
When employees are prompted to submit a GL Account as part of the expense submission policy, we ask them for the reason behind the expense. Using this information, we automatically categorize the expense if we’re confident it matches the correct GL Account. If we’re uncertain, we prompt the employee for additional input to ensure accurate categorization.
Please note: This is only available through the SMS flows. Coming soon to our mobile app and web in December 2024.
How to use automated categorization
For Employees:
Step 1
Upon Purchase: You’ll receive an SMS requesting a receipt and memo for the transaction.
Step 2
Confirmation SMS: Ramp automatically predicts the appropriate GL code, asking the employee if it is correct.
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- If correct: You’re done.
- To change the category: Reply “1” to be directed to the app, where you can override the selection.
Key features
- Automatic GL Code Suggestions: By predicting an accurate General Ledger account, employees can spend less time thinking about their company's accounting setup.
- SMS flow: Upon purchase, this flow will be initiated automatically over SMS. Employees can code transactions without even opening the app.
- Accuracy: Our auto-categorization is as accurate as employees' code transactions today.
- Quick Revisions: If the suggested category is inaccurate, employees can “Reply 1 to change” the category, directing them to the app or web platform where they can override the selection.
Frequently Asked Questions (FAQs)
Can Employees continue to review or input a category?
Yes. Employees are still asked to review what we’ve done and can edit our recommendation.
Are the app and web categorization features still available?
Yes, categorization through the Ramp app and website remains fully functional alongside SMS-based automation.