Manually allocating costs to different divisions
Can someone tell me how I can manually allocate part or whole of an invoice to different divisions, please?
As an example
If I purchase marketing material that is shared between two separate division, i.e. in-house sales and take-out sales, how can I allocate part of the cost to each division? It is not always the same ratio that it will be split, which means I cannot automate it.
Same with labour cost. I'd like to allocate part of an employee's labour to in-house and part to take-out. Is there a way to do that?
Thank you
Hi MichaelaH,
Thank you for your response.
To allocate costs further within your divisions, you can add a new line item to another expense account. If there is no option for the specific expense account you need, you can create a new account from the chart of accounts. Kindly refer to this Help article, Adding, Editing, and Deleting Accounts.
It's important to consult with your accountant when creating or adding an account for cost allocation. They can provide valuable advice to ensure the account is set up correctly and aligns with your financial reporting needs.
Feel free to create a new post again if you need further assistance.
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Cheers,
Princess
