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Instead of using spreadsheets, it would be very handy for Xero to have prepayment & accruals schedules built-in that act similar to the Fixed Asset function.

For example, when you allocated a new invoice to the prepayment nominal, Xero would detect that transaction and add it to the schedule. At the end of the month, you access the Prepayment & Accruals screen, go to drafts, and fill out a form giving it the period with su[plier, start date, end date and number of days/weeks/months it lasts (this would determine how often a journal is created when ran). Once done, you can then run the prepayments for the month/period and it would create those journals in the frequency you have set (i.e. days = 1 journal per day or months = 1 journal per month).

For Accruals, you could press a button to create an accrual. From here, you would fill out the supplier, amount, start date, end and period (similar to the prepayments section). The Accruals can be ran from the same page as the prepayments. When the invoice relating to that accrual is added to Xero and allocated to the accruals nominal, Xero detects this & puts it in the draft section where the prepayments are. The user would then click on the draft and assign the previously set up accrual schedule to the invoice and would create a journal to release the difference at the end of the accrual schedule.