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Automate a Journal Entry based upon total departmental expense

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Posted on by azile

20

What I do is to sum up each departments YTD expense excluding management and fundraising.

I determine the percent of each departments expense contributes to the overall company.

I then calculate the management and fundraising expense portion attributable to each department based upon the this calculation.

My entry is to DR G&A expense to each department and CR G&A expense to Management and Fundraising.

The process is done through excel and manually keyed into a journal entry in GP. This is a time consuming process that needs automation! Any suggestions on how I avoid the manual calculation and re-entry is greatly appreciated.

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Mariano Gomez 26,225 on at

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RE: Automate a Journal Entry based upon total departmental expense

You can setup a variable allocation account for this (Financial > Cards > Variable Allocation). You will add each department's G&A expense account as a Distribution Account, then you will add the corresponding department Management and Fundraising account in the breakdown account section for each of the accounts. All of this will roll up to the G&A expense to Management and Fundraising. Please note that the system does not keep track of balances for the roll up, but uses it as a way to distribute the amount based on the percentages calculated for the Distribution Accounts, based on the balances in the Breakdown Accounts

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