Table of Contents
- How it Works
- Connecting Ramp to your Accounting Provider
- Syncing Transactions & Reimbursements on Ramp
- What does this look like in my accounting provider?
Ramp: Simplified Accounting for All Businesses
For finance teams and accountants, prompt book closures and insightful accounting data are essential. Ramp assists in several ways:
Easy Integration: Connect Ramp to your accounting software. It automatically tracks all expenses, from bills to card charges, ensuring they're properly categorized.
Automate with Intelligence: Ramp offers tools to speed up expense classification. Using smart rules and suggestions, close your books faster. Learn how to automate your workflows here.
Precision with Peace of Mind: Ramp uses multiple data points, card policies, and your past classifications to ensure accurate data entry. Our priority is data correctness, giving you confidence that every sync to your system is error-free.
With Ramp, you're always in control of your financial data.
How it Works
Connect Ramp to your accounting system, and we'll fetch essential data like your chart of accounts for precise spend classification.
Select the accounts from your accounting provider that Ramp will use for posting transaction information.
Step 3: Select the fields for your spend
Every business has its own way of categorizing spending. Ramp imports accounting fields from your provider, letting you decide which ones to use for financial transactions.
Step 4: Automate your Accounting
Automate transaction classification by setting rules based on merchant details and card information.
Step 5: Start coding transactions
Find all transactions in Ramp's 'Accounting' tab for your review and categorization. Check out our Accounting Rules & Automation for more on on automation.
With a click, sync transactions like credit card charges and reimbursements to your accounting system.
Connect Ramp to Your Accounting Provider
It's straightforward to connect Ramp to your accounting provider. Follow these steps based on your provider:
Your Ramp Accounting settings comprise three parts, offering your team powerful, adaptable features to automate workflows.
Find default accounts in Accounting -> Settings -> Default Accounts.
Default accounts determine where Ramp sends transaction data in your accounting system. Reference list:
Primary Statement Payment Account: Select the cash account Ramp will debit for your statement balance.
- Credit Card Liability Account: Select the credit card account to track Ramp card expense liabilities.
- Cashback Account: Select the income account or expense account for cashback.
- Primary Statement Payment Account: Select the cash account Ramp will debit for your statement balance.
- Reimbursement Payment Method: Select a bank account to pay your employees directly via Ramp. Otherwise, you can approve reimbursements for manual payment and pay back employees outside of Ramp.
- A/P Account for Reimbursements: Select the A/P Account for Ramp to post.
Manage Accounting Fields
Find this in Accounting -> Settings -> Manage Accounting Fields.
Customize Ramp for your team by selecting the necessary fields from your accounting system for categorizing spend.
Control available Accounting Fields for your team.
- Choose General Ledger Accounts for coding.
Use conditional logic for presenting Accounting Field Options, often by location and department. Learn more here.
Automate your Accounting
Access this in Accounting -> Settings -> Accounting Automation.
Ramp excels in automating transaction classification, saving businesses time. Our platform is built to automate manual tasks, providing valuable features.
Learn more in Accounting Rules & Automation.
Syncing Financial Transactions to your Accounting Provider
Ramp facilitates syncing credit card charges, reimbursements, and statements (with certain providers) to your accounting system.
Our intuitive workflow:
- Waiting for Cardholder: Review what transactions are pending requirements.
- Needs Review: Ensure all required fields are populated, then click the icon under Ready.
- Ready to Sync: Sync all items that have been reviewed in one fell swoop by pressing Sync.
- What Gets Synced?: Ramp sends over all coded details, including the transaction/reimbursement receipt and memo.
How Ramp syncs Credit Card transactions:
Ramp syncs credit card transactions as credit card transactions in your accounting provider.
How Ramp syncs Reimbursements:
Ramp syncs reimbursements as bills and bill payments in your accounting provider.
To reconcile, you will have to go to your accounting provider to match the amount that was paid to Ramp from your bank account to the total dollar transaction amount synced over from Ramp. If you go to the Transactions tab within Ramp, you can filter by the statement period to easily check which transactions were included in which statement.