Markup Allocations

Modified on Sun, 08 Jan 2023 at 04:28 PM

Purpose of Markup Allocations:

Markup Allocations are used to Add incremental transactions over and above the amounts entered (e.g. admin. fee markups, IDC rates, etc.)

Special Vocabulary:

  • Dimension – Dimensions are the core components of an organization that you want to analyze with reports. Examples include departments, locations, programs, projects, or events. In Fundamentals you have the opportunity to determine and use up to 8 global dimensions in your Chart of Accounts.
  • Allocation Details
    • Percentage – Allocating costs by a percentage of the invoice line. Total Percentage must total 100 on the Line Allocation card for percentage types, and net to zero for markups.
    • Amount – As a user, you may also decide to allocate costs by dollar amounts, especially with recurring costs that do not change over time (rent, utilities, etc.)

Markup Allocations Menu

To setup a Markup Allocation go to Allocations in the menu bar and choose Markup Allocations. A page will show your existing Markup allocation, what the allocation is for (Description), and a posting allocation description where you can note how the allocation will be used. 

The Markup Allocation Card has three tabs:

  • General tab
  • This is where you’ll set up your calculations and targeted accounts. With a new Line Allocation, the first field is marked by a red Asterix (*) to indicate that the Number is a required field and you cannot continue without that field being filled in. This “number” can be alpha-numeric depending on the needs of your organization. With the remaining fields help pop-ups are available by hovering over the table column names. This will ensure you build your allocations as accurately as possible.
    • Effective Date – This specifies the date from which an allocation goes into effect.  This allow copying of existing codes to define future changes in the percentages to be assesses.  The system will compare the Posting date against the effective date to determine which set of rates should be used.  NOTE:  Once used an allocation may not be modified so there is an audit trail of the calculations used at the time of posting.
    • Posting Description – a description which will override the entered description on the original line.

  • Markup FiltersThese are filters for the funds and dimensions to define the transactions which should be assessed for the markup percentages defined below.
  • Allocation SubformHere is where you set the percentages or percent markups for your allocations. Note that you will need to fill in more than one line of information, so, for example, you set 2 or more lines with percentages in them that will total 100% when complete, or a net zero percentage for markups where the debits and credit must offset.. That way all costs will be allocated with your chosen percentages.
  • The Audit Tab – This tab allows you to see who has created a specific allocation on what date, and when it was last modified and by whom. This gives you more control over how costs are managed in your organization.

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