Automated prePAID EXPENSES SOFTWARE
Automate prepayments
Automate prepaid expense recognition, automatically allocating prepaid costs to the relevant month, without the need for laborious spreadsheets. Prepaid expenses, lease payments, travel or event costs, sever hosting, even interest costs can be fully automated, streamlining your financial processes.
ScaleXP is a certified app partner for all leading accounting systems. See all accounting integrations.
Prepaid expenses made simple
ScaleXP is a state-of-the-art finance automation platform. Automating prepayments and cost recognition in ScaleXP is simple.
- All bills are imported directly from your accounting system.
- A sophisticated series of natural language algorithms reads and processes all the text and data on each bill.
- Detailed expense schedules are prepared by supplier, invoice, or general ledger account code.
Close the month 3-5 days faster
Accounting teams that use ScaleXP close the month up to 5 days faster, completely eliminating the need to track prepayments and expenses in spreadsheets.
- Deep links to the accounting system ensures all bills, credit notes - even modifications - are processed.
- Multiple currency support ensures that all data in ScaleXP matches FX rates in your accounting system.
- Draft journals are prepared, ready for your review.
Improve accuracy
ScaleXP’s algorithms are highly accurate and able to allocate costs by day, week, quarter or across years. You can use the ScaleXP software platform to:
- Improve the accuracy of leasing charges, even across bills with 100s of line items.
- Allocate IT server costs precisely by day.
- Recognise interest costs in the correct month.
- Improve the accuracy of marketing spend; ensure that travel costs and conference or event spend is tracked precisely by month.
With ScaleXP you can
Be always up to date
ScaleXP imports and processes bills daily, ensuring your prepaid expenses are always up to date. There is no need to worry about a colleague’s holiday or wonder when the prepayments spreadsheet was last updated.
Get started quickly
In two clicks, your accounting system is connected. The system will then go to work creating a prepayment schedule for you. The results are ready in about 15 minutes.
Be always audit ready
All costs recognised are in line with IFRS and GAAP. Easily troubleshoot by clicking a bill or line item to see the fine details. Quickly export to spreadsheets to share line by line cost allocation with auditors.
What our customers say
ScaleXP is a Xero Staff Pick
ScaleXP is one of the top apps in the Xero app store and a ‘2023 Xero Staff Pick’.
Who uses ScaleXP?
Create greater accountability with accurate cost allocation by month.
Close the month faster and ensure your financials are 100% accurate, even after multiple late adjustments.
Provide fully accurate financials each month, without tracking costs in spreadsheets.
Prepayments FAQs
ScaleXP will take care of this for you. The system tracks each bill and each line within a bill. Any words which denote time period are detected by the system. Costs are then allocated by month and even by day.
Your prepayment schedule is easy to query, clicking through to specific bills and even lines within a bill.
Modifications to the bill are automatically detected using sophisticated tagging technology. Any modification is imported into ScaleXP and processed automatically.
Credit notes are handled in exactly the same way as bills, ensuring that all costs are spread without the need for spreadsheet tracking.
The system works across any currency. It stays in sync with your accounting system, using the same FX rates as your accounting system.
