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GL Allocation Codes window
General Ledger Allocation Codes are valuable if you make a journal entry that recurs periodically, especially if you make a debit or credit and split the opposing transactions among a number of different accounts. You will also find this option useful when transferring money from one account to another while keeping the accounts in balance.
Each Allocation Code has a single header account and single or multiple detail accounts. For example, you might use an Allocation Code when posting an expense, such as rent, to a single account, and then dividing the expense among several different expense accounts.
Code 
The code consists of up to six alphanumeric characters and is used to identify this Allocation. This code will appear in lookups and on reports.
Frequency Code 
Enter the Frequency Code you want to use for this allocation or select one from the Lookup. If this is not a recurring Allocation Code, you don’t need to enter a Frequency Code.
View History 
Once you select an Allocation Code that was previously processed, this button becomes enabled. Select this button to replace the Destination Ledger Accounts grid with the History grid.
Processed 
This label is automatically set by the software and reflects the date on which this allocation was last processed.
Allocation Account
Use these fields to enter or select an account number and description for this code.
Account Number 
Type the account number or select from the Lookup the account number from which to allocate amounts.
(Fund product only) Select SHIFT+F5 to open the GL Account Segment Lookup window or, in the fund designated segment, the GL Fund Number Lookup window.
Description 
This field is informational only and shows the description for the selected account number.
Debit / Credit 
Select from the drop-down whether the journal entry to the above account should be a debit or credit. The default option is Debit.
Current / Designated 
Select an option from the drop-down to determine how allocations are processed upon posting. Select Current if you want the system to post the generated transaction once to the date specified at the time the allocations are generated. This is the default option. Select Designated if you want the system to post one transaction for each period in the range you designate at the time the transactions are generated.
Less / More / Dollar 
When allocating money, the amount which will be allocated can be either a specified dollar amount or percentage of the balance in the account, whichever is more or less, at the time the allocation is generated.
If you select More or Less from the drop-down and the balance in the source account above is $0, the allocation will not be processed. If you want the allocation to process regardless of the balance in the source account above, you must select Dollar.
Percent 
If you are allocating the account by a percentage amount, enter the percentage of the account balance to allocate.
Dollar Amount 
If you are allocating the account by a dollar amount, enter the dollar amount to allocate.
Transaction Description 
This is an optional description, consisting of up to 50 characters, and is used to further identify this particular allocation.
Detail Description 
The Detail Description box allows you to enter a more thorough description of up to 50 characters for this transaction. This becomes the default for each detail line in the grid below and is automatically filled in for any new detail lines. Individual detail descriptions can be changed.
Destination Ledger Accounts
Use the Destination Ledger Accounts grid to enter the accounts to which the allocation will distribute.
Seq. Num 
This denotes the sequence number of the specific detail line. This is to help you differentiate between different detail lines, especially for complex allocations with many detail lines.
Account Number 
Use this field to specify the accounts to which the funds will be allocated. Type the account number or select from the Lookup the account number to which to allocate amounts.
(Fund product only) Select SHIFT+F5 to open the GL Account Segment Lookup window or, in the fund designated segment, the GL Fund Number Lookup window.
Dollar Amount 
If you will be splitting the opposing entries between different accounts based on a fixed dollar amount, enter the fixed dollar amount. If you will be splitting the opposing entries between different accounts based on a percentage, leave the default entry of $0.00. If you want the system to automatically figure either a dollar amount or a percentage, whichever is less or more, enter the dollar amount against which you want to compare.
Percent 
If you will be splitting the opposing entries between different accounts based on a fixed percentage, enter the fixed percentage. If you will be splitting the opposing entries between different accounts based on a fixed dollar amount, leave the default entry of 0.00%. If you want the system to automatically figure either a dollar amount or a percentage, whichever is less or more, enter the percentage against which you want to compare.
Less/More 
The amount allocated to this account can either be a dollar amount or a percentage of the total allocation, whichever is more or less at the time the transaction is generated.
Description 
If desired, you can enter a description of up to 50 characters for this specific detail line. This description will be used for the Detail Description.
 
 
Published date: 03/18/2020