Dynamic Allocations Based on Statistical Values< | Explore Consulting

Dynamic Allocations Based on Statistical Values<


Enhancements in 2014.1 release included the ability to create Statistical Accounts for reporting and as a basis for allocations. In this tip we will show how to use Statistical Account values to generate an allocation. Our example will leverage the headcount statistical account setup in our previous tip. Our company would like to allocate monthly rent cost across multiple departments using current headcount values as a ratio of the total company headcount.

To create Dynamic Allocations based on statistical values you must enable Dynamic Allocation feature.

Create Allocation Schedule

Tip Image 1

Click image to enlarge

Source Subtab

Destination Subtab

Tip Image 2

Click image to enlarge

Tip Image 2

Create Journal Entry

Select Create Journal Entry on the saved Allocation Schedule (or go to Transaction > Financial > Allocation Schedule > List and from the list select the schedule to create a Journal Entry)

Tip Image 3

Click image to enlarge

Illustrated in the example is a Journal Entry which has allocated as a percentage of headcount the rent expense.