How to: Allocate Costs and Income

You can allocate an entry in a general journal to several different accounts when you post the journal. The allocation can be made by three different methods:

  • Quantity
  • Percentage (%)
  • Amount

The allocation features can be used with recurring general journals and in fixed assets journals.

The following procedures describe how to prepare to allocate costs in a recurring general journal by defining allocation keys. When allocation keys are defined, you complete and post the journal like any other recurring general journal. For more information, see Working with General Journals.

To set up allocation keys

You can allocate an entry in a recurring general journal to several different accounts when you post the journal. The allocation can be made by quantity, percentage, or amount.

  1. Choose the Search for Page or Report icon, enter Recurring General Journal, and then choose the related link.
  2. Choose the Batch Name field to open the General Journal Batches window.
  3. You can either modify allocations on an existing batch in the list or create a new batch with allocations.
    • To create a new batch, choose the New action, and go to the next step.
    • To change the allocations of an existing journal, select the journal and go to step 7.
  4. In the Name field, enter a name for the batch, such as CLEANING. In the Description field, enter a description, such as Cleaning Expenses Journal.
  5. When you are done, close the window. A new, empty recurring journal opens.
  6. Fill in the fields on the line.
  7. Choose the Allocations action.
  8. Add a line for each allocation. You must fill in either the Allocation %, Allocation Quantity, or Amount field. You must also fill in the Account No. field and, if you are allocating the transaction among global dimensions, the global dimension fields.
  9. If you enter a percentage on a line, the amount in the Amount field is calculated automatically. These amounts have the opposite sign from the total amount in the Amount field in the recurring journal.
  10. After entering the allocations lines, choose OK to return to the Recurring General Journal window. The Allocated Amt. (USD) field is filled in and matches the Amount field.
  11. Post the journal.

To change an allocation key that has already been set up

  1. Choose the Search for Page or Report icon, enter Recurring General Journal, and then choose the related link.
  2. In the Recurring General Journal window, select the journal with the allocation.
  3. Choose the line with the allocation, and then choose Allocations action.
  4. Change the relevant fields, and then choose the OK button.

See Also

Closing Years and Periods
Working with General Journals
Posting Documents and Journals
Working with Financials