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AcctTwo Blog

Allocations Fall 2021 Release Update

We are proud to announce AcctTwo's Period-End Allocations Fall Release 2021. In this release we're adding new features that allow for more allocation pool and basis options as well as settings for how and if the allocation will process. We have added the ability to allocate to and from budgets as well as weighted average calculations. We also have added the ability to restrict or allow allocations to be run numerous times for the same period. Additionally, we added a start and end date for a given allocation to allow you set an allocation up ahead of time and not worry about it being run for a period you do not want. The end date will allow you to stop an allocation from running in a future period when it is no longer valid. Finally, we added the ability to pick and choose which dimension the values will keep from the pool versus take from the basis.

Watch the following video overview of the new features of AcctTwo's Period-End Allocations module:
Allocations Release Fall 2021 Video

 

Read on for the full release notes. We hope to cover some of these features on our next Sage Intacct Release Webinar as well. If you haven't signed up for that webinar, you can do so here.

Should you experience any issues, contact the AcctTwo Support team by sending an email with your question to support@accttwo.com. You can also reach out to your AcctTwo Customer Success Manager.

AcctTwo Period-End Allocations Fall 2021 Release Notes

Prevent duplicate allocations

By default, the system will now prevent duplicate allocations. If you wish to allow duplicate or overlapping allocations to run, on the allocation run screen, you may set a new Allow duplicates field to True. If you set this to “True”, then you could potentially over allocate so this will be set to “False” as a default.

If the field is set to False, the system will validate whether the allocation (or any of the allocations in a sequence) has run previously and was successful for the same or overlapping time period. If so, then the system will exclude those specific allocations from the allocation run.

How it works

You can now decide if you want the allocation to run again even if the pool start and end dates overlap with a prior successfully run allocation.

  1. Go to Allocations --> Run Allocations
  2. Check the box for Allow Duplicates

Additional requirements

There are no additional requirements.

strategic CFOAllocation active start and end dates

When a user runs an allocation or allocation sequence the system will determine if there is a start or end date on the allocation setup. These dates will determine the valid posting dates for any entries created by the allocation, allowing you to sunset an allocation in advance while it is still in use. Any allocation run with a posting date outside of it’s defined start and end date will not be run. Start and end dates are not required on an allocation.

How it works

To define valid start and end dates for allocations.

  1. Edit or add a new Allocation
  2. Populate the Active From and/or the Active To

Additional requirements

There are no additional requirements.

Allocate with budget as the basis

Allocations may now use budget balances to calculate the basis percentages for allocation. This feature works the same way as the previous functionality the only difference is that now you can set it to look at the budget balances instead of the actuals.

How it works

You can now set the allocation basis to be calculated on a budget instead of actuals.

  1. Open an Allocation
  2. Set the Allocation Basis to “Budget”
  3. Choose the budget you wish to use
  4. Choose the Basis Dimension, Basis Type, and Basis as you would with any other allocation

Additional Requirements

Existing budget with required dimensions

Allocate a budget pool

Allocations now supports allocating values from a budget rather than actuals. This feature works the same way as the previous functionality, the only difference is that now the system will look at budget balances for the pool instead of actuals.

How it works

You can now set the allocation percentages to be calculated based on budget instead of actuals.

  1. Open an Allocation
  2. Choose the budget (in the Book ID/Budget ID field) you wish for the system to use to calculate the pool

Additional Requirements

Existing budget with required dimensions

Update Budget

Allocations now supports creating or updating a budget rather than actuals. This feature works the same way as the previous functionality, the only difference is that now the system update the specific budget chosen in your allocation.

How it works

You can now set the allocation percentages to be calculated based on budget instead of actuals.

  1. Open an Allocation
  2. Set the Allocate to “Budget”
  3. Choose the budget (in the Allocation Budget field) you wish for the system to adjust based on the basis

Additional Requirements

There are no additional requirements.

Choose which dimension values to keep from pool

Allocations now provide the option to specify dimensions to be retained from the pool (rather than from the basis). There are instances when the goal of an allocation is to add a dimension value to balances that already have multiple other dimension values, without losing the original dimensions (especially important when the underlying GL accounts require dimensions). In this instance you can choose to keep the existing dimension values from your pool, and not lose them because they are not present in your basis. See example below.

  • Department is selected as the basis for the allocation
  • Customer and Item are selected in the Keep Dimension Values From Pool field.

How it works

You can now set the allocation percentages to be calculated based on the budget instead of the actuals.

  1. Open an Allocation
  2. Click on Advanced Options
  3. Choose the desired dimensions in the Keep Dimension Values From Pool field

Additional Requirements

There are no additional requirements.

Mark allocation entries as billable

Allocations now allow you to indicate if you want the resulting allocation entry to mark transactions as billable for those projects that are billable.

Prerequisites: Subscription to the Intacct Project Billing and Costing or Grants Tracking and Billing module.
The project being allocated to must have Billing type set to “Time & Materials” or “Fixed Fee & Expenses”.

The project module must be configured to Display the billable option in General Ledger Transactions.

You will find the setting to use this feature on the allocation setup screen by clicking on Advanced Options.

Set Default Allocation Pool and Basis Periods

User can now set a default period for the allocations pool and basis. This means that you can have the pool and basis start and end dates automatically populate when you are choosing an allocation or an allocation sequence. When creating an allocation sequence, you can choose a start or end date and that will filter the available allocations you can put into the allocations sequence. If one or more of the allocations in a sequence has a different basis period, then the basis start and end dates will not automatically populate, and you will need to enter those. These options are mutually exclusive so you can use one or both. The options you have to select from are Current Month, Prior Month, Current Quarter, Prior Quarter, Current Year and Prior Year. The pool period dates are based on what is selected here as of the current date you are running the allocations and you will see them on the allocation setup screen.

To define the valid start or end dates for allocation sequence:

  1. Edit or add a new Allocation Sequence
  2. Populate the Start Date and/or End Date
  3. Add Allocations

Average Period allocation calculation

Users can now use an average period calculation for the basis. The choices for period averages are: Daily, Weekly, Monthly or Quarterly. The user also has the option to ignore zeros. If the ignore zeros option is selected the calculation won’t count days/weeks/months/quarters with zero balance. The results from this average will be used as the allocation basis instead of the for-period balance.

New Configuration Option: Handling of Uneven Average Periods

Chose the system behavior when an allocation is using average period balance, but the period selected for the allocation run contains partial periods. In the Allocations configuration screen you now can set one of three choices: Ignore Partial Period, Include Partial Period, and Error. This is an overall configuration setting so it will be for all Average Period Allocations.

1. Ignore Partial Period

  • For a weekly average period allocation: This means that when a weekly weighted average allocation does not have an even number of weeks between the start and end date of the pool dates then we ignore the partial week at the end of the timeframe. A week is defined as 7 days.
  • For a monthly average period allocation: If a monthly weighted average allocation does not have an even number of months between the start and end date of the pool dates then we ignore the partial month at the end of the timeframe. One month is defined as one day earlier in the next month.
  • For a quarterly average period allocation: If a quarterly weighted average allocation does not have an even number of quarters between the start and end date of the pool dates then we ignore the partial quarter at the end of the timeframe. One quarter is defined as the one day earlier four months later.

2. Include Partial Period

  • For a weekly average period allocation: weekly weighted average allocation does not have an even number of weeks between the start and end date of the pool dates then we include the partial week at the end of the timeframe by automatically extended the pool end date to the end of the week to include the entire week at the end of the timeframe. A week is defined as 7 days.
  • For a monthly average period allocation: If a monthly weighted average allocation does not have an even number of months between the start and end date of the pool dates then we extended the pool end date to include the entire month at the end of the timeframe. One month is defined as one day earlier in the next month.
  • For a quarterly average period allocation: If a quarterly weighted average allocation does not have an even number of quarters between the start and end date of the pool dates then we extend the end pool date to include the entire quarter at the end of the timeframe. One quarter is defined as the one day earlier four months later.

3. Error

  • For a weekly average period allocation: If there is not an even number of weeks between the start date and end date then an error will result when allocations are run that states “You have chosen to run an allocation that is using a weekly weighted average but you have not selected a start date and end date that have an even number of weeks. Please change the weighted average period of the allocation or change the Allocation Basis start or end date.” A week is defined as 7 days.
  • For a monthly average period allocation: If there is not an even number of months between the start date and end date then an error will result when allocations are run that states “You have chosen to run an allocation that is using a monthly weighted average but you have not selected a start date and end date that have an even number of monthly. Please change the weighted average period of the allocation or change the Allocation Basis start or end date.” One month is defined as one day earlier in the next month.
  • For a quarterly average period allocation: If there is not an even number of quarters between the start date and end date then an error should result when allocations are run that states “You have chosen to run an allocation that is using a quarterly weighted average but you have not selected a start date and end date that have an even number of quarters. Please change the weighted average period of the allocation or change the Allocation Basis start or end date.” One quarter is defined as the one day earlier four months later.

How it works

  1. Go to Allocations --> Allocations Setup
  2. Edit Handling of Uneven Average Period Allocation Configuration
  3. Select the appropriate Value for desired handling as described above

Additional Requirements

There are no additional requirements.

Using Average Period Basis in an Allocation

Allocations may now be configured to use an average period balance rather than a for period balance. The option now appears in the Basis setup section of an allocation. The allowable periods to average are:

Daily

Description: Basis query to determine the balance of the basis is run for each day starting from Allocation Basis Start Date to Allocation Basis End date. Each balance should be summed and then divided by the number of days between the start and end basis dates.

Weekly

Basis query to determine the balance of the basis is run for week starting from Allocation Basis Start Date to Allocation Basis End date. Each balance should be summed and then divided by the number of weeks between the start and end date.

Monthly

Basis query to determine the balance of the basis is run for month starting from Allocation Basis Start Date to Allocation Basis End date. Each balance should be summed and then divided by the number of months between the start and end date.


Quarterly

Basis query to determine the balance of the basis is run for a quarter starting from Allocation Basis Start Date to Allocation Basis End date. Each balance should be summed and then divided by the number of quarters between the start and end date.


How it works

You can now set the allocation percentages to be calculated based on the average period balance:

  1. Open an Allocation
  2. In the Basis, select Allocate By Average Period
  3. Choose the desired Average Period
  4. Select Ignore Zero Balance Periods (if required)

     

Additional Requirements

There are no additional requirements.


The AcctTwo Period-End Allocations tool is just one example of the automation that saves time and reduces manual processes in your finance and accounting function. If you would like to find out more about automating allocations, or other time-consuming and error-prone processes in your organization, schedule time with one of our experts today.

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Topics: General Not-for-Profit and Faith-Based Allocations Release Update