Expense Allocation QRG - NetSuite Help

Allocation schedules are used to generate journal entries to distribute the expenses to the appropriate destination accounts, Responsibility ... ExpenseAllocationQRG ThisDocumentisMachineTranslated Aneditedversioniscomingsoon. Containedinthisreferenceguide:  ExpenseAllocation CreateAllocationSchedule EnterPurchaseTransaction CreateanExpenseAllocationJournalEntry 1.CreateAllocationSchedule CreateAllocationSchedulestomanagetheallocationofexpensesaftertheyareincurred. AllocationschedulesdistributeexpensesacrossResponsibilityCenters,MinistryLocation,andCPRDesignation. Whatrolecandothat?**Accountant,**FinanceLeader Steps 1.1Navigateto Transactions>Financial>CreateAllocationSchedules 1.2Inthe PrimaryInformation,enterthefollowing: Name  Entity(OneWorldaccountonly) AccountingBook(Multi-BookAccounting) Frequency 1.3Enterthe NextDateforthescheduledallocation. 1.4Enterthe SubsequentDatethefollowingallocation. 1.5Selectoneofthefollowing: RemindForever–indefinitelyreallocatebasedonthisschedule NumberRemaining–limitthenumberoftimesthisschedulereallocatesexpenses.   1.6Check Inactive todeactivatetheallocation. 1.7Selectwhetherthe Allocati onModeisFixedorDynamic. 1.8Ifyouselect DynamicAllocation,enterthefollowinginformation: WeightSource UnitType DateBasis  1.9Navigatetothe Sourcesubtab. 1.10Enterthe CreditAccounttocreateanoffsettingcreditfortheamountallocated. 1.11Ifyouselect CreditAccount,associatetheoffsettingcreditwiththefollowing: CreditName(entity) CreditDepartment CreditClass CreditLocation 1.12Selectthetypeof CreditAccounttoallocate. 1.13Selectthefollowingfieldstosourcetheamounttoallocateifitmatchesallinformation: CreditName CreditResponsibilityCenterMCC CPRDesignation 1.14Click Addtoselectanotheraccountortypeofaccounttoallocateinthesameschedule. 1.15Navigatetothe Destinationsubtab. 1.16Checkthe Values arepercentagescheckboxtoallocatebyamountby%. 1.17Select UseSource/CreditAccount(s)tocopythesourceaccount/sasthedestinationaccount/s. 1.18Enterthefollowingfieldsfortheallocation: Account Name ResponsibilityCenter MCC CPRDesignation 1.19Enterthe Weightforeachallocationline. 1.20Click. 2.EnterPurchaseTransaction Itemsarethegoodsandservicesyoupurchaseandsell. Youcandefaultarevenuerecognitiontemplatetoanitemthatyousellwhererevenueisrecognizedoveraperiodoftime. Whatrolecandothat?**Bookkeeper,**Accountant,**FinanceLeader Steps 2.1Locatethevendorrecordthrough Search.Clickthevendorrecordname. 2.2Mouse-overthe CreateNewmenu andselect . 2.3Entera ReferenceNo.forthistransaction,suchasthevendor'sinvoicenumber. 2.4VerifytheAccountsPayable Account thatwillbeaffectedbythistransaction;editasneeded. 2.5The Amountfieldwillupdateasyouaddoreditlineitems. 2.6Verifythe Terms   and DueDateforthisbill,editasneeded. 2.7Verifythe Dateand PostingPeriodforthisbill,editasneeded. 2.8Navigatetothe Billingsubtab. 2.9Verifythe Currencyand ExchangeRateforthisbill,editasneeded. 2.10Navigatetothe ExpenseandItems>Expensessubtab. 2.11Selectan ExpenseCategory   (ifapplicable)oraG/L Account  forthispurchase. 2.12Enterthe Amount. 2.13Click .  2.14Click. 3.CreateanExpenseAllocationJournalEntry Allocationschedulesareusedtogeneratejournalentriestodistributetheexpensestotheappropriatedestinationaccounts,ResponsibilityCenters,CPRdesignations,andMinistryLocations. Whatrolecandothat?**Bookkeeper,**Accountant,**FinanceLeader Steps 3.1Navigateto Transactions>Financial>CreateAllocationSchedules>List 3.2Click View(nexttotheallocationthatisdue.) 3.3Click CreateJournalEntry. NOTE: ThejournalentryopensinViewmode. LastupdatedonApril16,2019 ToggleSearch Categories TableofContentsandFAQs BasicUsability GeneralLedger EmployeeCenter DonorManagement DonationProcessing AccountsPayable AccountsReceivable InternationalTransmittals ReportsandSearches Budgeting FixedAssets Banking InventoryandMaterialsforSale RoleandEmployeeManagement AdvancedFinancials NetSuiteWebinars Noresultsfound