We often have prepaid bills slip through the cracks because our accountants miss the service period noted in the Ramp bill memo—or because no service period was included at all. Currently, the Accounting Period field in Ramp only allows a single date (typically based on the invoice date).
It would be much more useful if the Accounting Period field supported both a start date and an end date. That way, when a bill covers multiple periods, Ramp (and its ERP integrations) could automatically recognize it as a prepaid expense and amortize the balance across the applicable months through the end of the service period.
For example, suppose we receive a bill on November 10 covering January 2025 – January 2026. Today, Bill Pay assumes that bill applies to November. I can update the Accounting Period to January 2025 (the start of the service window), but there’s no way to input the end date to convey the full service period.
To work around this, I currently overwrite the line item or description to include the full service period, set the ERP account to Prepaid Expense, and rely on our accountants to read that description and manually amortize it over the correct periods. It would be far more efficient if Ramp supported a two-date Accounting Period field, allowing automatic prepaid detection and amortization syncing with our ERP.