Define general allocation settings

Complete the following steps to define general allocation settings.

Procedure

  1. On the Maintain menu, click Configuration > Automatic Journals > Control Tables > Allocations.
  2. Click New.
  3. Type a unique journal number between 1 and 99.
  4. Add a Group name and a Local name.
  5. Select the Offset Account for balancing the allocation transactions. All transactions must balance for all accounts, and all rounding differences are put on the source company. The rounding difference account from the General Configuration are used. Rounding differences are currency converted. For more information about currency translation for allocations, see Currency translation of allocations.
  6. Select Active to indicate that this specific allocation is in use. You cannot execute an inactive allocation.
  7. Select Execute Equity Transfer if you want to use General Configuration settings and be able to book net income in the balance sheet or equity specification. For more information, see Currency translation of allocations.
  8. Go to the Source tab to define the source settings for this allocation.