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Anyhow Thanks much for your help.
Thanks
Sandip
I understand that now. The only other thing that I can think of would be to have a customization written. Without all of the scope definition, I would be hard pressed to make any other recommendations.
The only other though would be to try to utilize MDA to capture the % entries but I dont truly believe that would work or be less cumbersome for data entry.
Sorry
Michelle,
Thanks much for your reply; User don't want to manual calculation.-->Select Sales Account(1 or Group of Sales Act) then give percentage and pass Allocation Entry something like that.
Thanks
Sandip
Ok, I realized that I totally misread your question. What you want, I believe is for the system to calculate the 1.67% of sales to the fixed allocation account so it can distribute it to the departments on a fixed basis.
I think??? :)
One way that you could do this is if you have smartlist builder and smartconnect from eone. Smartconnect can utilize a smartlist as a source file for integration. So if a smartlist was created to calculate the 1.6% of total sales then it could be fed into a gl entry with the offset being to hit the fixed allocation account to distribute to the departments. Sorry, thats the best that I can do..... :(
Sandip,
The issue, I believe as I understand it, is how do you allocate it when you want it to be based on the Period end totals. In the past, I have had this issue with clients wanting to accumulate administrative costs, (such as postage, printing etc) to their divisions based on % of sales for the month.
Question 1) are all departments utilizing the same Reserve for bad debt balance sheet account?
If so, the key would be to create a variable allocation that was dependent on each departments % of sales so for instance, you would create the following:
Variable COA BAD DEBT
First Bad Debt Dept Account Based On Dept 1 Sales Account 1
Dept 1 Sales Account 2
Second Bad Debt Dept Account Base On Dept 2 Sales Account 1
Dept 2 Sales Account 2
And So on,
Monthly journal entry is made to
BAD DEBT 1.6% of total company sales (debit)
Reserve for Bad Debt 1.6% of total company sales (credit)
The variable allocation will take care of the rest of it and distribute it to the departments according to their sales for the period.
Yes it does still take someone calculating the total entry for the 1.6% but it would be only one journal entry for the month and based on total company sales.
Hope this helps, if not, I let me know some more specifics.
Any updates on above issue is highly appreciable.
Thanks
Sandip
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