Generating Current Transactions from Allocation Codes
Allocation processing is useful for recurring transactions that split the opposing transactions among different accounts. For information on setting up Allocation Codes, see Distributing Money to Multiple Accounts (Allocation Codes). For information on recurring transactions, see Establishing Recurring Transactions.
To generate current transactions from an Allocation Code:
1 Select Process Allocations from the Workflow. The Process Allocations window will open.
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2 Enter the beginning and ending Allocation Codes, Frequency Codes, and the range of periods you want to process, along with the date you want the transaction to be recorded in the ledger.
If you are generating the allocations for multiple periods, then whether there are one or multiple transactions created by the process is determined by the Current/Designated option you chose when you set up the Allocation Code.
3 Select the Create Report from Generated Transactions check box if you want to see a report of the transactions immediately after they are created, or leave the check box empty to generate the transactions without immediately creating the report.
NOTE: Allocation Codes have a built-in feature that checks your allocated amount with the destination account to ensure they balance. If your amounts do not agree, when you click Save, you will see an error message. |
4 Select OK to begin processing.
After you create the transactions, print an edit report (see Printing the Edit Report) to make sure all the entries are accurate and all accounts are balanced. If you find errors, clear the batch, change the Allocation Codes, and repeat the generating process. After you verify the accuracy of the entries, you are ready to post the transactions (see Posting General Ledger Transactions).
Published date: 09/30/2021