Mastering NetSuite Allocation Schedule: Step-by-step Guide

NetSuite Allocation Schedule helps automatically split expenses or revenues across departments, accounts, or locations, making financial reporting more accurate.

Instead of manual entries, it uses simple rules with two types, fixed and dynamic making the whole process easier, faster, and more reliable.

In this blog, we’ll walk you through how to create a NetSuite Allocation Schedule.

How to Create a NetSuite Allocation Schedule ‍

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Step 1: To set up an Allocation Schedule in NetSuite, navigate to:
Transactions > Financial > Create Allocation Schedules.

Step 2: In the header section of the form:

• Enter a name for the allocation schedule.

• Select the appropriate subsidiary (if using NetSuite One World).

• Specify the frequency for how often the allocation should run.

• Choose "Dynamic Allocation" as the allocation method.

Step 3: In the "Source" subtab, select the account for which expenses will be allocated. You can narrow down the allocation further by applying filters such as:

• Entity name (e.g., employee, customer, or vendor)

• Financial segments including class, department, and location

• Custom segments, if applicable

These filters help ensure that only the relevant transactions are included in the allocation process.

Master the NetSuite Allocation Schedule to automate expense distribution, improve financial accuracy, and streamline your allocation setup in NetSuite.

To know more about the NetSuite Allocation Schedule and how it can help your business, talk to us today.