Allocation of costs to 10 classes

Martin Sammon
Martin Sammon Member Posts: 10
Hi We run an orchard which has ten different owners - we use classes to track each property, in the GL.  Has anyone seen an allocation addon that makes it easy to enter one bill and allocate it automatically to the ten classes, based on hectares?  We run Enterprise, on our own server.

Comments

  • cosmic
    cosmic Reckon Developer Partner Posts: 1,073 ✭✭✭
    edited September 2018
    hi Martin , give us a call pls on 0407068942 pls ,we can look into it

    Cosmic Accounting Group

    Accountants and Tax Agents 22397009

  • Dan Fardon_8703171
    Dan Fardon_8703171 Member Posts: 2
    edited July 2020

    I have been using 'Tags' constantly in Reckon Personal Plus for almost 12 years, but I have never had consistent percentages  in the Split Transactions.

    However, I notice that in the amount column of the Splits, as soon as you move the cursor to the amount column, a mini-calculator appears and in the top right-hand corner of that calculator is a %age symbol. I therefore suspect that you can create a 'Saved or Scheduled Transaction" which has percentages in each row of the Split.

    Having made that suggestion, I don't know how accurately Reckon's rounding to cents is.

    When I distribute Financial Institution Interest to Tags, I use Excel to calculate the Interest Splits to 3 places, then in the adjoining Excel column, round off the Interest to cents, to ensure that the rounded amounts add up to the total interest; Sometimes the 'proper rounding rules' I use, do nevertheless, result in the total amount being slightly incorrect., If that happens, I then have to adjust the rounded amounts to produce the correct total.

    I hope this helps

    Dan Fardon

  • Martin Sammon
    Martin Sammon Member Posts: 10
    edited March 2017
    Dan, I have never used splits, and notice that in the help screen, it says you cant use Split with items, and only use splits via transactions entered via registers.  Both are new comments to me.  Most of our transactions are via items. For bills, I am not sure how to enter a bill via a register, only through suppliers.

    I cant find Tags in Enterprise.

     I will read up in splits, but not optimistic.  

    However, many thanks for your time.

    Cheers Marty
  • John Graetz
    John Graetz Member Posts: 1,651 ✭✭✭
    edited March 2017
    HI Marty.  I have a suggestion for you which is fairly simplistic, but it depends on how complex your operation is, or to be more precise, how many expense accounts may be involved across your whole operation for these 10 orchards.  My suggestion can work, but could involve a lot of setup if you are using multiple expense accounts.  However, to keep this suggestion simple I will use the example of just one expense account.
    1.  Create a new item, using the type Other Charge.  You can call it what you like and at this point the description can be blank, because it is editable later on.  
    2.  Allocate this Other Charge to the applicable Expense Account and use NCG as the tax type.
    4.  Determine what fraction of 1 relates to each owner - can be calculated to 5 decimal points
    3.  Enter the bill for the gross amount, but instead of using Expenses use the Items column/tab instead.
    4.  Select the item that you have set up.  You can now edit the description to whatever you want.
    5.  Under the Qty column, enter the fraction for each owner (Class)
    6.  Under the Cost column, enter the total amount of the bill
    7.  You can repeat the steps 4, 5, 6 for each owner and merely copy down the item description and gross cost.
    8.  Once you have done this, you may be out a cent or so which should be easily adjustable.  The next step is to Memorise this bill.
    9.  The next time you have a bill to enter, select the memorised bill, amend the supplier and copy down the item description (if using the same item/expense account - or create a new one) and copy down the full value of the bill in the amount column.  You can the memorise this transaction as an additional memorised bill.
    As I said earlier, this could involve a lot of setup which may defeat the whole purpose, but it depends on how complex you have to be.
    Chandra may have a far better solution for you though.
    John L G
  • Martin Sammon
    Martin Sammon Member Posts: 10
    edited March 2017
    Hi John firstly many thanks for your time and expertise. I cuurent use Zed Axis to import what we call our monthly split journals which involves about 700 entries each month. I don't like using GJs if I can avoid it. Your suggestion above may work better using Zed Axis to import excel created bill from templates. Will keep on thinking . Again many thanks Marty
  • John Graetz
    John Graetz Member Posts: 1,651 ✭✭✭
    edited March 2017
    Thanks Martin.  From what you say, it appears that you will persist until you find a better solution - good on you.  John L G
  • Martin Sammon
    Martin Sammon Member Posts: 10
    edited March 2017
    Hi John,  I have used your idea, and it works very well.  I have 6 different methods of allocation which is frustrating, but this idea will save a tedious month end allocation journal, and more importantly, have the source record now recorded in the GL for easier reference.  Many many thanks for the stimulation and idea.
  • John Graetz
    John Graetz Member Posts: 1,651 ✭✭✭
    edited March 2017
    Fantastic news Martin.  Very pleased that my "thinking outside of the box" suggestion was of benefit to you.  Thanks for letting me know - much appreciated.
    John L G