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Why trust Ramp?
Ramp is a spend management platform used by over 25,000 businesses for easy-to-use cards, spend limits, approval flows, vendor payments, and more. Ramp has merchant data on over 1 million unique acceptors, over 8x more than other credit card charge databases. Merchant charges aren’t always recognizable on card statements, and Ramp’s exhaustive dataset is the most reliable way to better understand where and why charges are appearing on your statements.
Costco is a membership-based warehouse retailer that offers a vast array of high-quality merchandise at affordable prices. The company was founded in 1983 in Seattle, Washington and has since grown into one of the largest retailers in the world. Their business model is focused on bulk purchasing and offering goods in large quantities, which enables them to pass on significant savings to their members. Costco currently operates over 800 warehouses globally, including in the United States, Canada, United Kingdom, Mexico, Australia, and Japan.
As one of the biggest retailers in the world, Costco offers a wide range of products and services to their customers. Here are the top five that the company provides:
- Groceries: Costco offers a wide variety of fresh produce, meats, bakery items, and other grocery essentials at great prices
- Electronics: The company is known for offering electronics at competitive prices, including high-end TVs, computers, cameras, and more.
- Clothing: Costco carries an extensive selection of clothing for men, women, and children, including name brands like Levi's and Calvin Klein.
- Pharmacy: Members can use Costco's pharmacy services, which offer competitive prices on both prescription and over-the-counter medications.
- Travel: Costco offers vacation packages, car rentals, and cruises at discounted prices to its members through its travel services.
“Accurate classification of expenses is vital for businesses as it forms the backbone of financial reporting, tax compliance, and strategic decision-making. It enables businesses to track and analyze their spending patterns, identify cost-saving opportunities, and assess the profitability of various operations or projects.”
Audrey Carroll
Senior Manager, Accounting, Ramp
Tired of manually categorizing confusing charges? See how Ramp can automate this for you in the demo below
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