Lesson 7.3: Activity

Practical Activity: Preparing for “Total by Account” Allocation

Objective: Configure the system to allocate Fringe Benefits based on Salaries.

1. Create Designator:

    ◦ Go to Administration > Administration > Account Designations.

    ◦ Create a new designator named “Allocation Base – Salaries”.

2. Tag Accounts:

    ◦ Go to Lists > Chart of Accounts > Segments > Object Code.

    ◦ Open your main “Salaries Expense” account.

    ◦ Change the Account Designation to “Allocation Base – Salaries”.

    ◦ Click Save.

3. Exclude an Account:

    ◦ Find a “Bad Debt” or “Depreciation” account in the Object Code list.

    ◦ Open it and check the Exclude from Allocations box.

    ◦ Click Save.