, and then selecting the date on the calendar that appears.Use Generate Allocation Journals to create General Ledger allocation journals that are defined in Allocation Journal Definition. Both Fixed Percent and Dynamic Percent (dynamically calculated percent) allocations are processed by using this application. You can allocate expenses from one account group to one or more different account groups. Expenses can be allocated across all the internal companies because Generate Allocation Journals supports inter-company processing.
Allocation journal definitions are displayed and selected according to the period specified in the header area in Generate Allocation Journals and the setting of Active in Allocation Journal Definition. If Active is cleared in Allocation Journal Definition, the definition is not displayed and selected even if it falls within the period specified in Generate Allocation Journals.
Generate Allocation Journals application creates general ledger journals with an unposted status. You can process all allocation journal definitions, or select and process them individually. Any unselected allocation journal definitions may be processed during the period at any time. As soon as the System creates an allocation journal, its unposted status lets you review the journal in Journal Entry before posting.
Generating Allocation Journals
Select General Ledger | Generate Allocation Journals
Specify the period to which you want the allocations to be posted in Period. The current period in General Ledger is the default.
Specify the date the journal is allocated in Journal Date. You can also select a date by clicking Calendar , and then selecting the date on the calendar that appears.
Click Select All to select all allocation journal definitions. The Select check box will be selected for all allocation journal definitions displayed in the grid.
Click Clear All to clear all selections.
Click to select the Select check box to select each allocation journal definition that you want to generate.
The default in Description will be what was specified in Allocation Journal Definition. If you click the description, Allocation Journal Definition appears and you can edit the definition.
The kind of allocation that you defined in Allocation Journal Definition displays in Allocation Type.
The frequency that you defined in Allocation Journal Definition displays in Frequency.
The date the definition was last updated in Allocation Journal Definition displays in Last Updated.
The balance of the source account displays in Source Account Balance.
The session reference information displays in Session Reference.
The unique reference identifier assigned to the allocation journal definition displays in Journal Reference.
If the allocation journal definition is a reversing journal, the Reversing check box is selected.
Click Save to generate the allocation journals.
Note: If the allocation journal definition is set up to automatically create a reversing journal, when the allocation journal is posted, it also immediately creates the reversing journal. The journal date of the reversing journal is set to the first date of the next period. The reversing journal will immediately post with a Posting Date equal to the Journal Date.