Automating memos and categorizing expenses

Overview

Ramp makes it easy for employees to add context to transactions and get the right accounting (GL) codes—no accounting knowledge needed.

Employees can apply memos to a single transaction, a merchant, funds, or a merchant and funds moving forward. If a memo is required, Ramp uses it to suggest the most relevant GL code and auto-fills it, with the option to edit if needed.

These suggestions streamline tracking and approvals, saving time for employees, accountants, and admins alike—on both mobile and web.

Jump to:

• How to use automated memos
• How to use automated categorization
• Key features
• FAQs

How to use automated memos

Employees and administrators can set a default memo that will recur and apply to all transactions within a specific fund and/or to a specific merchant on mobile and web. When employees are asked to submit a memo as part of the expense submission process, we will confirm with the user which transactions this memo should apply to.

Step 1

Upon entering a memo, an automation prompt will appear directly under the memo field.

Step 2

Confirmation: Users will be prompted to confirm whether the memo they entered should be applied to the following options:

• This transaction only
• All transactions for this merchant 
• All transactions for this merchant and funds

 How to use automated accounting (GL) categorization

When employees are required to submit accounting (gl) codes as part of the expense submission policy and a memo is required, we'll use the memo to automatically fill in or suggest accounting codes. When a memo is not required, we'll ask the employee to submit a purpose for the transaction over SMS and certain web flows.

SMS

1. Upon purchase, you’ll receive an SMS requesting a receipt and memo for the transaction.
2. Confirmation SMS: Ramp automatically predicts the appropriate accounting code, asking the employee if it is correct.
   1. If correct: No action needed.
   2. To change the category: Reply “1” to be directed to the app, where you can override the selection.

Web

1. If your company requires you to fill out a memo for your transaction, we'll use that memo to automatically fill in or suggest an accounting code.
2. You can either keep or select the suggested code, or choose a new accounting code.

Key features

• SMS flow: Upon purchase, this flow will be initiated automatically over SMS. Employees can code transactions without even opening the app.

• Automated memos: Upon entering a memo, users will be prompted to select whether this memo is recurring for other transactions at the funds or merchant level.

• Automatic accounting code suggestions: By predicting an accurate accounting code, employees can spend less time thinking about their company's accounting setup. 

• 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” it, which directs them to the app or web platform where they can override the selection.

Frequently Asked Questions (FAQs)

Can employees continue to review or input an accounting category?
Yes. Employees are still asked to review what we’ve done and can edit our recommendations.

What happens if a customer wants to change a default memo?

If a memo needs to be adjusted, customers can still adjust and override the automated memo.

Will the predicted accounting category still apply if there is an existing accounting automation rule?

No, the accounting automation rule will still take precedence over the automated GL category. If a rule is created or a rule already exists, the GL category code will not be automated.

Are the app and web categorization features still available?
Yes, categorization through the Ramp app and website remains fully functional alongside SMS-based automation.