Track Allocations With Ease

Stacye Via — Tue, 05 May 2009 15:03:00 GMT

You have 200 projects, all making money, which means your investment portfolio, checking account, or money market account is growing with interest. This is awesome news and you can’t wait to enter the income into FE.

Since this interest is generated from projects and each project gets a little boost from that interest, you’re probably running a General Ledger Report, Project Financial Statement, Project Activity Report, and/or Income Statement to determine how much revenue each project contributed in the statement period. Most likely you also create an Excel spreadsheet with several tabs and formulas to calculate the amount to distribute to each project. Then create a manual journal entry to enter the interest allocated to each project. If you're keeping track, that’s 200 projects, which is at least 201 transactions if you don’t require projects on your Balance Sheet accounts or 400 transactions if you do.

Yuck. A lot of work, eh?

Wouldn’t it be really cool if the system would just do it for you? Well it can by using my favorite optional module Allocation Management (AM)! This module allows you to move amounts or enter and distribute indirect costs or revenues to the desired GL accounts based on a calculated balance (the work you’re doing in Excel). Not only does it automate the process, it also creates the journal entry for you and is not limited to just revenue.

Now that you know the system can help reduce your workload, save you from carpel tunnel syndrome, and a 200-line journal entry, isn’t it time you start using AM? Check out KB solution BB385370, the Allocation Management Guide, or contact your account manager for more information.

Happy allocating!

The Ledger Lowdown: Sort Your Allocations

Jennifer Maroney — Thu, 18 Sep 2008 17:16:00 GMT

This is a short post, but a great one if you use Allocation Management and find it hard to find projects or accounts in your allocation pool. Beginning in FE version 7.77, due out later this year, you will be able to sort the allocation pool grid. The best part is, when you save and close the allocation pool, your sort order is also saved!

Follow these steps to sort the grid:

Open the Allocation Pool.
Right click in the grid
Select Sort by [pool basis] and then Ascending or Descending.
Save the Allocation Pool to save the sort option selected.

Stay tuned for more 7.77 new features. Talk to you soon!

The Ledger : Allocation Management

Track Allocations With Ease

The Ledger Lowdown: Sort Your Allocations