Go to the Journals tab to access this feature.
ScaleXP will use text recognition to automate expense recognition, enabling you to prepay bills, add suggested accruals, and automatically release accruals when bills arrive, all in a few clicks.
Note that in consolidated companies, expense recognition must be done at the subsidiary level, in line with the accounting connection.
Getting started
Go into any expense journal page. Use the three dots at the top right of the page to set up or change your settings for expense recognition.
Read more in How to set and change expense journal settings .
Step 1: Review cost allocations for prepayment
See How to automate prepaid expenses: Setting up prepaid expenses in ScaleXP
Step 2: Post prepayment journal
See How to automate your prepaid expense journal: review and post the prepayments journal
Step 3: Add cost accruals
See Part 1 of How to automate accrued cost journals — review suggested accruals and add your own from the Add Accruals page.
Step 4: Post accrued cost journal
See Parts 2 and 3 of How to automate accrued cost journals — check and update accrual releases from the Release Accruals page, then review and post your journal from the Journal Accruals page.
Related articles
Prepaid expenses: best practices and quick start guide
How to automate prepaid expenses: Setting up prepaid expenses in ScaleXP
How to automate your prepaid expense journal: review and post the prepayments journal
How to automate accrued cost journals
How ScaleXP will auto-match your cost accruals
How and why to set an auto-release date for a cost accrual
How to use ScaleXP for month end journals
How to reconcile your prepayments balance with Xero or QuickBooks