2014-09-05 Meeting notes : Juma Ventures | Suite Volunteer

Statistical Allocation

with Dynamic Allocation

1^st   Create a statistical account

 2^nd  Create a save search

·         1st line item must be count

·         2nd should have a group

3^rd   Create a statistical schedule

·         Should be validated / a save search must be validated

·         Trick on date field  =  put letter "T"  then click TAB

·         Then save

·         Wait until the % of  completion is 100%

·         Click on the status "complete"

·         You will see the report

·         Click on the Journal entry

·         You will see a journal entry but this is non-posting

 4^th Now Create a dynamic allocation by new allocation schedule

·         Weight source should be your statistical account

·         Allocation Mode should be dynamic allocation

·         Date basis - best practice is "As of Date"

·         Destination - choose an account "expense account" and then choose on a Department then click the "Update Sample Weights"

·         The balance will say that you have a number of employees in that Department

1.       Comparison between two periods

·         On the report builder

·         Click on the budget and click on the amount

·         Expose it and rename the label as YTD budget

·         Go to the financial folder

·         Click on amount - name it as YTD actual

2.       To compare the amounts

·         Choose the amount column

·         On the Alternate period range type - choose  "relative to report date"

·         On the Alternate period range - choose "This Period"

·         Choose the budget column

·         On the Alternate period range type - choose  "relative to report date"

·         On the Alternate period range - choose "This Period"

·         Choose the YTD Budget column

·         On the Alternate period range type - choose  "relative to report date"

·         On the Alternate period range - choose "This Fiscal Year"

·         Choose the YTD Actual column

·         On the Alternate period range type - choose  "relative to report date"

·         On the Alternate period range - choose "This Fiscal Year"

·         Click on total

·         Note that you can have a maximum of 30 columns

2.       Financial > Balance sheet

·         You can replace the amount for the "budget  amount" by replacing that column

·         Play around on the reports replacing the columns with your budget and actuals

3.       Balance Forward

·         Accumulated of amounts from the previous period that you can compare to your to date amount.