Discover what NetSuite Allocation Schedule is, & how fixed vs dynamic allocation rules automate expense & revenue distribution for accurate financials.
NetSuite Allocation Schedule is a built-in tool that automates the distribution of amounts like expenses or revenue across departments, accounts, or locations. It is part of the NetSuite Advanced Financials module, an Allocation Schedule simplifies period-end processes and eliminates the need for manual journal entries.
NetSuite offers two primary types of Allocation Schedules: Fixed and Dynamic.
Fixed Allocation Schedules distribute expenses based on predefined percentages. These schedules take a source transaction—such as a bill or journal entry that matches specific criteria and allocate the amount across designated financial segments and subsidiaries.
Dynamic Allocation Schedules, on the other hand, rely on statistical account entries to serve as weighted sources. This approach enables a more precise and data-driven allocation of expenses, ensuring that each department’s Profit & Loss (P&L) statement reflects an accurate share of the costs.
Explore our step-by-step guide to creating a NetSuite Allocation Schedule.
To know more about the NetSuite Allocation Schedule and how it can help your business, talk to us today.
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