How to Handle Prepaids with Ramp

Rillet supports automated prepaid amortization. When service periods are added to bills, the appropriate amounts are automatically posted to the prepaid account. For more details, see How to Create a Prepaid Expense.

You can handle prepaids in Ramp using one of two methods: Define Service Period Start and End directly in Ramp (recommended), or leverage Rillet's AI-Assisted Service Period Scanner.

Service Period Sync (recommended)

After the initial connection between Ramp and Rillet is made, two new optional fields will be automatically created in Ramp: Service Period Start and Service Period End.

1. Classify the expense in Ramp directly to the expense account.

2. Specify Service Period Start and Service Period End dates. Note that the format of these dates must be YYYY-MM-DD, otherwise the expense won't sync into Rillet.

3. Sync the expense from Ramp to Rillet. The service period of the expense will sync directly into Rillet and your amortization entries will automatically post as a result.

Tip: This method gives you the most control over your prepaid service periods.

Note: If you also have an attachment on the expense, the service period dates entered in the fields will take precedent over the dates in the attachment.

AI-Assisted Service Period Scanner

1. Classify the expense in Ramp directly to the expense account.

2. Attach the invoice or receipt to the expense in Ramp.

3. Sync the expense from Ramp to Rillet.

4. Rillet's AI Service Period Scanner will identify the service period specified on the attachment and automatically add the service period to the expense. Your amortization entries will automatically post as a result.

See Also

For more prepaid expense workflows and related adjustments, see the following articles:

• How to Handle Prepaids with Bill.com

• Making Prepaid Schedule Adjustments

• How to Create a Prepaid Expense