For best practice in quickly setting up ScaleXP prepaid expenses, we recommend setting up a new prepaid expenses account as described in this article: Prepaid Expenses:  Best Practices and Quick Start Guide 

If you prefer to continue using your existing account set ups and are comfortable reconciling differences between the old and new methodologies, then see the below setup guide.

To set up automated prepaid expenses, first go to the "Journals" tab (menu at top of page), select “All Expenses” or another expense page, then follow these simple setup steps:

Set accounts

Use the cog 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. 

Review expenses and select bills to include

See How to automate expense recognition journals in ScaleXP 

Hint: Once all items have been reviewed and marked, none will be orange — they will all be either white (not included in journals) or blue (included).

Review Prepayments

Use this report to select which P&L expense account to use for each supplier, bill, or line item as well as review and adjust the appropriate date range for cost recognition.

Identify expense accounts for supplier bills coded to prepayment accounts

To allocate all bills from a supplier to the same account code, select that account in the Expense Account dropdown menu to the right of the supplier name.

To allocate bills from a single supplier to different expense accounts, use the downward arrow by the supplier name to show a list of invoices, then use the dropdown menus in the Expense Account column to select the required expense account for each invoice.

To allocate expense accounts at invoice line level, click on the pencil sign by each invoice to see invoice detail. Then select the appropriate expense account from the dropdown menu.

Review and adjust cost recognition dates

To review and edit cost allocation dates, view invoice detail using the steps above. Then click on the start and end dates to change if required.

Prepayments Journal

Go to the Prepayments Journal to see the financial impact on your accounts and post your journal.

For more information on the prepayments journal see How to automate your prepaid expense journal:  Prepayments Journal report 

Download options

• Use the Download Icon at the top right > Download this page in Excel) to download into Excel the same level of detail you seen on your screen. i.w.
• You can also download all Bills, including line level detail, using the Download Bills option in the same download menu at the top right.

Hint: Download and save in Excel to keep a record of the detail you are using for your journals.

Other helpful hints

How to add a missing bill or cost supplier