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 state-of-the-art finance automation platform. Automating prepayments and cost recognition in ScaleXP is simple.
Accounting teams that use ScaleXP close the month up to 5 days faster, completely eliminating the need to track prepayments and expenses in spreadsheets.
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:
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.
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.
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.
ScaleXP is one of the top apps in the Xero app store and a was awarded ‘2023 Xero Staff Pick’.
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.
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.
Getting started with ScaleXP is easy! Try it for yourself free for 7 days. Or, if you have specific questions, just use the button on the left to schedule a quick meeting.
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