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Amazon Web Services (AWS)

Audrey Carroll

Senior Manager, Accounting, Ramp

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Answer

Amazon Web Services (AWS) primarily falls under the 'Software' expense category, specifically within subcategories like 'Cloud Computing Services', 'Data Storage and Management', and 'IT Infrastructure Software'.

Role of the Expense in Business

AWS offers a range of cloud-based services crucial for various business operations, including hosting applications, managing data, and providing IT infrastructure solutions.

Practical Example

A tech company using AWS for hosting its web applications categorizes these expenses under 'IT Infrastructure Software'. An analytics firm using AWS for data storage and analysis places these costs under 'Data Storage and Management Software'.

Specialized Expense

For a small business using AWS for basic web hosting, it might be more appropriate under a general 'Web Services' subcategory.

Conclusion

In summary, AWS is predominantly categorized under the 'Software' expense category, with its diverse applications dictating more specific subcategories.

The information provided in this article does not constitute legal or financial advice and is for general informational purposes only. Please check with an attorney or financial advisor to obtain advice with respect to the content of this article.

“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. Having a single source to turn to for accounting classification suggestions, such as the Ramp Expense Classifier tool, is immensely helpful as it provides consistency, reduces ambiguity, and streamlines the expense classification process.”

Audrey Carroll

Senior Manager, Accounting, Ramp

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1. We calculate average savings as a percentage of an illustrative customer's total card spending when using Ramp features designed to reduce business expenses. Keep in mind that this percentage is an estimate, not a guarantee. Ramp delivers savings from more than just card spending; savings can also come from non-card expenses so we may factor decreases to non-card spending into our calculation. For example, savings may result from reduced time spent on manual expense tracking, the financial benefit of cash back or other rewards, smarter expense monitoring, and eliminating costs associated with alternative solutions. Our calculations are based on platform data, industry research, customer surveys, and info on alternative options. Your actual savings may vary.

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