Automated prepayments
Save time, close faster, improve accuracy.
Automate prepayment expense recognition for your team, automatically allocating costs to the relevant month, without the need for laborious spreadsheets. Prepaid expenses, lease payments, travel costs, and 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.
Work smarter, not harder
ScaleXP is a state-of-the-art finance automation platform.
- All bills are imported directly from your accounting system.
- A sophisticated series of natural language algorithms read and process 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 days faster
Accounting teams that use ScaleXP close the month up to 3 days faster, completely eliminating the need to track prepayments and expenses in spreadsheets.
- Deep links to the accounting system ensuring all bills, credit notes - even modifications, are processed.
- Supports multiple currency, using the same FX rates as 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. Our clients use the technology 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, ensuring that travel costs, conference or event spending is tracked precisely by month.
With ScaleXP you can
Stay 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 typically ready in 15 minutes.
Be audit-ready
All costs recognised are in line with IFRS and GAAP. Easily troubleshoot by clicking a bill or line item to see the finer details. Quickly export spreadsheets to share line by line cost allocation with auditors.
What our customers say
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.
