How to Handle Prepaids with Bill.com

Rillet supports automated prepaid amortization. When service periods are added to bills, the appropriate amounts are automatically posted to the prepaid account. For more details, see: 📄 How to Create a Prepaid Expense.

Bill.com does not currently support entering service periods directly. You will need to add them in Rillet after the bill has synced.

You can handle prepaids in Bill.com using one of two methods: Prepaid Clearing Method (recommended), or Direct Expense Method.

Prepaid Clearing Method (Recommended)

1. Create a new GL account for prepaid Bill.com expenses in your Chart of Accounts, and set the Subtype to Other Current Asset.

2. Classify the bill in Bill.com to this prepaid account.

3. Sync the bill from Bill.com to Rillet.

4. Open the bill in Rillet and update it to:

   • Select the correct Expense account.

   • Add the correct Service Period.

This method makes it easy to identify bills that need a service period added in Rillet.

Direct Expense Method

1. Classify the bill in Bill.com directly to the expense account.

2. Sync the bill from Bill.com to Rillet.

3. Edit the bill line items in Rillet to add the correct Service Period.

Note: Until you add the service period in Rillet, the full bill amount is recorded as an expense in that period.

See Also

For additional prepaid expense processes and adjustments, see the following articles:

• How to Handle Prepaids with Ramp

• Making Prepaid Schedule Adjustments

• How to Create a Prepaid Expense