How do I add an allocation?

Set up a new allocation.

Use Allocations to set up the properties the system will use to allocate amounts. the amounts that will be allocated, and select the accounts that will receive the allocated amounts. Your organization's needs will determine how many allocations that you will need to set up.

Adding an allocation

1. Open Connect General Ledger > Organization > Allocations.

2. Click New (CTRL+N).

The next available Allocation Number and Allocation Order display.

3. Click to select the field titled Description, and then enter the allocation name.

4. Use the Method menu to select formula the allocation will use to calculate an amount.

Select the allocation method.

Average Daily Balance Ratio starts the calculation with the year-to-date balance at the beginning of the period and add in the account balance for each day of the period. Then divides the total accumulation during the period by the number of days in the period to find the average daily balance.
Fixed Percentage uses a fixed percentage to determine the percentage represented by each Allocation Ratio entry.
Period Amounts Ratio uses the period amounts for the selected period to determine the percentage represented by each Allocation Ratio entry.
Period Beginning Balance Ratio uses the year-to-date ending balance amounts to determine the percentage represented by each Allocation Ratio entry.
Period Ending Balance Ratio means that each entry in the Allocation Ratio contains a designated percentage and no analysis is performed.

5. Use the Journal menu to select the journal Connect will use to post the allocation.

6. Click to select the field titled Account to Distribute From, and then enter the distribution account.

7. Click to select the field titled Account to Distribute To, and then enter the account that will receive the distribution.

8. Find the section titled Amounts to Allocate.

When you run allocations to allocate amounts, the Run Allocations routine will use the information in the Amounts to Allocate to ask you to enter the allocation amount, use a fixed amount, or use the selected GL accounts to calculate the allocation amount. Use Prompt for an Amount to ask the user to enter the allocation amount each time you run allocations. Then, the system adds the amount to the existing balance in the accounts receiving the allocation amounts. Use the Fixed Amount Of to use a set amount as the allocation amount. Use These Accounts for the Amount to calculate the sum of the current year amount on the selected accounts, and then distribute the current year amount when you run allocations.

9. To include the allocations that Connect creates for this allocation record on a report, click to select the checkbox titled Print Report.

When you run the Create Allocations routine, Connect will print a report of the allocations created by the routine.

10. To use amounts from prior periods to calculate the allocation, click to select the checkbox titled Use Prior Period Amounts.

11. Click Save (CTRL+S).

The allocation is saved.