Best practice recommendations
We recommend starting with a new accrued cost liability account specific to ScaleXP.
This enables you to retain existing repeating journals and allow existing accruals to reverse under your existing methodology without the complexity of combining with the automated recommendations.
However, if you prefer to retain your existing accruals balance sheet account, that will also work.
In this case you need to ensure that your starting balance sheet is the same between ScaleXP and your accounting system.
You can do this by
- selecting the relevant costs on the Add Accruals page and/or
- adding manual accruals on the Add Accruals page.
Read more about adding accruals in How to automate accrued cost journals.
Account settings
When first using accruals journals, ScaleXP will prompt you to select an accrued cost liability account.
You can change this at any time in the Expense Journal Settings, found in the three dots at the top right of the expense journal pages.
You will also have the option to turn on journals by supplier. If not selected, journals will be at account level only when posted to your accounting system, with Excel backup provided by supplier and cost line.
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