Overview of Ramp Accounting

Overview

For finance teams and accountants, prompt book closures and insightful accounting data are essential. Ramp assists in several ways:

With Ramp, you're always in control of your financial data.

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How it works

Step 1: Connect Ramp to your accounting provider

Connect Ramp to your accounting system, and we'll fetch essential data like your chart of accounts for precise spend classification.

Step 2: Configure the default accounts for your company

Select the default 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 automation.

Step 6: Sync transactions to your accounting provider

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:

For a complete list with plan availability, see Ramp ERP integrations overview.

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Settings

Your Ramp Accounting settings comprise three parts, offering your team powerful, adaptable features to automate workflows.

Default accounts

Default accounts determine where Ramp sends transaction data in your accounting system.

You can select the Default accounting options for specific Accounting fields by taking the following steps:

  1. Select the Accounting tab
  2. Go to Settings in the top-right corner of the Accounting page
  3. Under Accounting fields , click on the accounting field in question
  4. Select the Default option dropdown to choose the desired default

Reference list:

Manage accounting fields (chart of accounts)

You'll find this in the Accounting tab by clicking the settings button in the upper right-hand corner of the screen.

Customize Ramp for your team by selecting the necessary fields from your accounting system for categorizing spend. The options you'll see here vary by accounting provider and the fields that are supported currently. Please review the specific integration overview you're using (linked above) for additional details!

Enabling accounting fields pulled from your accounting provider

Showing and hiding accounts for global coding visibility

Conditional filtering rule based on Ramp Location for NetSuite Category options

Frequently asked questions

Why can't I select a required field when submitting a receipt?

If you're unable to select a field that is marked as required during receipt submission, it usually means:

How can this be resolved?

Your Ramp Admin will need to do one of the following:

Option 1: Update the submission policy to make the field optional or remove it as a requirement.

Option 2: Adjust the accounting field settings so users can view and select the field during receipt submission.

Admin instructions to fix this:

Step 1: Go to the Accounting tab in the Ramp dashboard.
Step 2: Click Settings in the top-right corner.
Step 3: Select Manage accounting fields.
Step 4: Locate the required field that’s missing during submission.
Step 5: Ensure the field is enabled and visible to users, or update its settings so it’s no longer required.

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:

Syncing coded transactions to your accounting provider

Syncing transaction date vs. clearing date

We want to give customers the flexibility to choose what date (either clearing or transaction) to use to sync over expenses. Each has its pros and cons. This will appear as an option to customers within the settings tab.

Sync Settings showing default accounting date option set to Transaction date

Transaction date

Using the transaction date reflects when the expense occurred, providing accurate expense reporting. For instance, if you buy a meal on February 28th but it clears on March 1st, the transaction date will record the expense in February.

Clearing date

Using the clearing date simplifies identifying statement inclusions. You can filter transactions by month to view all charged expenses. This method aligns with bank feeds, where transactions are only posted after clearing.

Reconciliation

Accounting impact

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.

How Ramp syncs statement payments:

Ramp syncs statement payments as checks 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.