Ramp amortization with accounting integrations

Overview

Available on Ramp Plus. See Ramp Plus overview for plan details.

Ramp amortization lets eligible businesses spread prepaid costs across the accounting periods they benefit. The exact setup and sync behavior depends on your accounting provider: NetSuite uses NetSuite amortization templates, while QuickBooks Online, Xero, and Sage Intacct use Ramp-managed prepaid accounts and scheduled journal entries for eligible businesses. The Ramp Prepaids page is part of Ramp-managed amortization and does not apply to NetSuite amortization.

Choose the right amortization method

Ramp supports two amortization methods for accounting integrations. Use the provider-specific method that matches your connected accounting system.

Supported accounting providers

Ramp's amortization coverage differs by provider because each accounting system supports prepaid expenses differently.

Supported workflows

Ramp amortization can apply to different workflows depending on your provider and eligibility. Review card transactions and reimbursements in Accounting, and review Bill Pay bills in Bill Pay, before syncing so the expense account, prepaid account or template, start date, and end date are correct. Use Prepaids only for Ramp-managed amortization with QuickBooks Online, Xero, or Sage Intacct.

Set up amortization by provider

Admins and Accounting users should set up amortization in the provider-specific workflow before syncing the item to your accounting system.

• NetSuite card transactions and reimbursements: Use NetSuite integration: Transaction amortization to select a NetSuite amortization template, start date, and end date before syncing.
• NetSuite Bill Pay bills: Use NetSuite integration: Bill Pay amortization to amortize eligible bill line items with NetSuite templates.
• QuickBooks Online, Xero, and Sage Intacct: Use Ramp-managed amortization with accounting integrations to set up prepaid-account amortization for eligible transactions, reimbursements, and Bill Pay bills before syncing.

Frequently asked questions

Which account does Ramp use for amortization?

For Ramp-managed amortization, Ramp initially posts the cost to the prepaid asset account you select in Ramp, then creates scheduled journal entries that move the amount into the expense account coded on the original item. For NetSuite amortization, the deferral and target accounts come from the selected NetSuite amortization template and related NetSuite account settings.

Can Ramp suggest amortization coding?

Yes. Ramp can suggest a NetSuite amortization template when your NetSuite amortization template field is available in Ramp. For Ramp-managed amortization, Ramp can suggest a prepaid asset account for eligible businesses when the account is available in Ramp.

Can I edit an amortization schedule after syncing?

Schedule edits depend on your provider and eligibility. NetSuite schedules are managed by NetSuite templates and NetSuite period rules. For Ramp-managed amortization, some eligible businesses can edit schedules or create adjustment entries from Ramp; otherwise, update the schedule or journal entries directly in your accounting provider.

What happens if an amortization period is closed?

Closed-period behavior depends on your provider. NetSuite applies its own posting period rules and may catch up prior-period amortization in the current open period. For Ramp-managed amortization, Ramp can only post journal entries into periods your accounting provider allows; eligible businesses may see adjustment behavior when schedules change after prior periods have closed.

Does Bill Pay amortization work outside NetSuite?

Yes, for eligible businesses using QuickBooks Online, Xero, or Sage Intacct. NetSuite Bill Pay amortization uses NetSuite templates, while Ramp-managed Bill Pay amortization uses prepaid accounts and scheduled journal entries.

Can NetSuite customers use Prepaids in Ramp?

No. Prepaids is for Ramp-managed amortization with QuickBooks Online, Xero, or Sage Intacct. If your business uses NetSuite, select NetSuite amortization templates in Ramp and manage the resulting amortization schedule in NetSuite.