Read this before you start the revenue journals, so you do not stop halfway for a missing connection or account. Check each item below and follow its link if you need the steps.
Connections
- Your accounting system, connected to ScaleXP. Journals post to Xero or QuickBooks. See Getting started with Xero or Getting started with QuickBooks.
- Invoices imported from early enough. ScaleXP must hold every invoice with revenue on or after your journal start month. Check the sales invoice date under Load Data > Connections. See Data sync for invoices and bills.
- Stripe, if you invoice through it. Connect it before you rely on the invoices. See Stripe integration overview.
- A Google Sheet or Microsoft Excel file, only if you recognize revenue by usage or milestones. See Usage Based Revenue: Connect Google Sheets or Usage Based Revenue: Connect Microsoft Excel.
Access you need
- In Xero, a login with Standard or Adviser permission. See What level of Xero access do I need to import data?
- In QuickBooks Online, Admin access. See What level of QuickBooks do I need to import data?
- For a Microsoft Excel usage file, a Microsoft 365 work or school account and the Admin role in ScaleXP. To give someone that role, see How to add team members and change permission levels.
Set up in ScaleXP first
- Your P&L and balance sheet configured, with every account in the right category. See How to configure your P&L and balance sheet in ScaleXP (single company).
- The Customers tab checked for the last twelve months or so: how ScaleXP reads your invoice dates, and any rules where the AI is not enough. See Revenue setup 1: Configure and validate revenue recognition.
- A deferred revenue balance sheet account, and an accrued revenue account if you use accrued revenue, in Xero or QuickBooks. See Revenue setup 2: Prepare your accounts.
- Opening balances lined up with ScaleXP. See How to adjust the starting balance sheet for deferred revenue.
- No other deferred or accrued revenue journals posted for the months ScaleXP covers. Remove repeating journals (Xero) or recurring journal entries (QuickBooks) that post to these accounts.
Decide before you start
- Your journal start month. Pick a month after any financial close that cannot be reopened, and one you can easily document. See How and why to change your journal start date.
- How you code invoices: to revenue accounts, then mapped to deferred revenue accounts. See How should I code my invoices? (To revenue or balance sheet)
- Whether to post journals by account or by customer. You choose one, not both. See How to set up revenue journals by customer.
- Whether to reuse your old deferred revenue account or start a new one, if your old method was very different.
Next step
- With everything above in place, go to Start here: Automate revenue journals.