Allocation of a % of an account to another account automatically?

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Good afternoon and happy Friday!

We have 2 companies in Great Plains and i would like to know if there is a way to chose accounts to automatically allocate a % of those accounts to another account? The main accounts that house things like rent, internet utilities etc are in one company and monthly, i would like to move a % of that to another account that i use to move things between companies. Hope someone understands what i am asking.

all guidance greatly appreciated!!!

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Bill Campbell 12 on at

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Hello Tatao

Question: Do you want / need the first account to hold the value until you post another transaction that would then move the amounts?

Situation : what you are describing is an Intercompany Allocation by either Fixed or Varible Allocation. If for the moment you leave out the Intercompany part - then this is a pretty easy thing to accomplish. Great Plains has a good feature for this, however it is a matter of timing that can / could / will likely cause you a problem.

Normally when you are posting to allocations accounts either fixed or variable amounts, you are posting at the point of entry. So for example I have 2 shareholders who split expenses equally ( 50/50 ) so what we did was set up an Allocation Account that split 50% to SHARE1 and the balance ( 50% ) to SHARE2 - the posting would be to SHARESPL and the EXPENSE for the dollar value of the EXPENSE and all that hits the GL is the SHARE1 and SHARE2 and EXPENSE - SHARESPL has no value in it to report.

As to the intercompany part of the problem - I believe that it is possible to do this, as GP Intercompany is a common feature, however, it is going to be a complex case of mapping between company 1 and company 2.

Hope this helps to get you started on your way - but be sure to post back any time.

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Heather Roggeveen 9,150 on at

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Hi Tatao

Bill's suggestion is bang on with Fixed or Variable Allocation accounts, but it is real time - so you would not see the full amount of the original transaction hit e.g. rent.

However, what you could do is set up a report (in Management Reporter, Excel) that is live to the database that could give you the balances of those accounts and apply a percentage, and you could probably using Excel skills get it in the correct format to allow you to copy and paste the data as a journal.

If you do it in Excel, you can use parameters etc to input dates, so it can be pretty immediate.

Cheers

Heather

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Community Member on at

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Thank you Bill!

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Community Member on at

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Thank you Heather

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