Dynamics-GP provides the capability of performing allocations when posting transactions in the system. Out of the box Dynamics provides two methods of allocating, fixed and variable. For most organizations these two methods of allocations is sufficient. But what if your requirements are more complex?
Think about if you were a government contractor. You need to allocate costs for G&A, Fringe, and Overhead. This can be a very complex allocation process. Or maybe you have your own trickle down allocation process. This could be where you have an allocation within an allocation that then takes the costs allocated by labor hours with the result and finally, allocates it again based on products produced.
These types of distributions can be very complex and more than likely can’t be solved within the Dynamics-GP product. Thankfully, there is a solution out there from Admiral-West that adds advanced allocation capabilities to Dynamics-GP.
The nice thing that Admiral-West Advanced Allocations provides is it’s intuitive setup and processing. The advanced allocation module is well suited for the companies that require advanced allocations but want easy processing and setup.
Think of a process where at the end of the month you want to allocate a balance from an account in Dynamics-GP, such as overhead, and allocate it to other accounts. Maybe that allocation is a waterfall allocation with multiple tiers. This process would be impossible to do in GP. You would probably have to export the data to excel, run some macros to calculate the allocations, and then import them back into GP using integration manager or some other integration tool. With the advanced allocations module, it’s a simple setup. You just have to create a Tiered allocation within the system, run a process to preview what the allocation would look like, and then process it to create the allocation journal entry.
How about having to allocate only a portion of the balance in the account? This is easily achieved through the allocation setup or defining a percentage of the allocation.
I have been a GP consultant for over 25 years and have seen the struggles that some companies go through especially at the month end to calculate their allocations and book their journal entries. If I sound like I am an advocate for this product, well I am. But, I do want to say that every situation is different. I can’t say that this allocation tool works for everyone, but it would be worth it to try it and see if it saves you time.
To speak more to Tim about advanced allocations or have KTL demo this particular product, contact KTL Solutions at email@example.com or call an account representative at 1.866.960.0001.