Setting Up Allocations

How do I set up allocations?

Step 1: Planning the Allocations

Before you set up an allocation scheme, you must do some planning. The first step is to decide what information about an asset you want to allocate, and how you want to allocate it.

Suppose you want to allocate an asset's cost among three funding sources. First, you would assign three different entries for the G/L Asset Account field to the three funding sources. You might assign the three entries for the G/L Asset Account field as follows:

G/L Asset Account	Funding Source
100-000	Source A
200-000	Source B
300-000	Source C

Note: The easiest way to set up the G/L Asset Account field is to create a list of valid entries for the field. The list of valid entries is called a SmartList. After you create the SmartList for a field, a user can select an entry for the G/L Asset Account field from a list, rather than having to enter the number manually.

Step 2: Performing the Allocations

After you set up the list of valid entries for the G/L Asset Account field, the next step is to allocate the asset's cost between the funding sources. You might allocate an asset's cost as follows:

G/L Asset Account .	Allocation Percentage
100-000 (Source A)	50%
200-000 (Source B)	30%
300-000 (Source C)	20%

You allocate the asset's cost by selecting <Allocate> in the G/L Asset Account field in Asset Detail. You can enter up to 10 allocations for each G/L account field. (You can also apply an allocation scheme to a group of assets in the Asset List. For more information, see Performing Bulk Allocations.)

Note: An asset's allocation scheme applies to all three of the asset's books. That is, you cannot apply different allocation schemes to each book.