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Topic

    Nick Hirsch
    Cost Allocation
    Topic posted October 23, 2019 by Nick HirschRed Ribbon: 250+ Points, tagged Allocations, Financials, General Ledger 
    30 Views, 1 Comment
    Title:
    Cost Allocation
    Summary:
    Want to automate cost allocation
    Content:

    Hello,

    We have a scenario whereby we have some market data licence costs that we want to allocate across multiple departments, but we only want one department head to sign off / approve the cost. The invoice will initially get posted to department A (say £200), but then we want to allocate £50 to departments B, C and D and leave £50 in A.

    We could post a manual journal but would someone be able to advise the best automated solution for doing this? We have quite a few market data licences like this.

    Many thanks

    Nick

    Version:
    19C

    Comment

     

    • Ravi Kanth Vuddagiri

      Nick - Post this to a common department say x and create Formulae based Allocation rules to allocate cost in this department across all departments equally.