This post explains how to produce a journal entry in Company Central in which the quantity on one line is designated to the other lines based upon portions.
Allocations Introduction
Allowances are a fast and constant method to disperse quantities based upon portions or some other aspect (e.g., head count, square video footage, and so on).
In Characteristics GP, allowances are used “Allowance” accounts that disperse total up to publishing accounts based upon pre-defined portions. In the procedure of moving our customers from Characteristics GP, we needed to discover a method to re-create their allowances in Company Central. What we discovered stunned us.
In Company Central, there are no “Allowance” accounts, and while an entry can be dispersed to several GL accounts, allowance by portions is not offered in a non-recurring General Journal. Rather, all allowances in BC are gone into in a Recurring General Journal. Keep in mind that although the journal is “repeating” and can be published more than when, the journal will be published just when the user picks to publish it. To put it simply, the “repeating” journal can be published simply when.
Allowances are offered in all kinds of repeating journals (repaired, variable, reversing, nonreversing, and so on) in Company Central. In the example listed below, we will be utilizing a “Repaired” Repeating Journal.
Example Journal Entry Allowance
Each Department is charged a portion of the $25,000 lease expenditure as follows:
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Develop a Recurring General Journal Design Template
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In the search box, type “General Journal Templates” and click the link.
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Develop a brand-new design template and mark the design template “Recurring.” For this example, we produced a Design template called ADMIN ALLO:
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Select the Recurring General Journal
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Go into the very first line of the entry (the one including the total up to be designated) as listed below:
Field by field:
Field |
Worth |
Factor |
Repeating Approach |
F Repaired |
The quantity on the journal line will stay after publishing. There is no reversing entry. |
Repeating Frequency |
Blank – the entry will not repeat (however should be designated, so it is gone into in a repeating journal) |
|
Reverse Date Computation |
Blank – the entry will not reverse |
|
File Date |
6/30/2023 |
Date to publish |
Publishing Date |
6/30/2023 |
Like File Date |
File Type |
Not suitable |
|
File No. |
EXPALLO% 3 |
” EXPALLO” & & (Existing Month) |
Account Type |
G/L Account |
To publish to GL just |
Account Number |
60100 |
Lease Cost |
Description |
Assign Lease Cost |
Overwrite the account description |
Quantity |
-25000 |
The total up to be designated from the expenditure account – gotten in as an unfavorable (credit) quantity |
Assigned Amt ($) |
25000 |
The designated quantity is the overall from the Allowances window (see listed below), which is accessed by clicking the Allocated Quantity (highlighted above) |
Department Code |
In this example, the Department Measurement is defined in the Allowances window |
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Customergroup Code |
In this example, the Customergroup Measurement is not defined |
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Activity Code |
102 |
Default |
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Assign the quantity on the very first line. Open the Allowances window by clicking the Allocated Quantity. On each line, go into the Account Number, select the Department, and go into the Allowance %, as listed below:
Normally, each line of the allowance will be dispersed to the exact same Account (e.g., 60100– Lease Cost, as above) however to various Departments. The allowance Accounts do not need to be the exact same, nevertheless. The only requirement is that the portions amount to 100%.
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Close the Allocations window to go back to the entry window for publishing