Forum Discussion

MichaelaH's avatar
MichaelaH
User
3 months ago
Solved

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 div...
  • Princess_R's avatar
    Princess_R
    3 months ago

    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.

     

    If my response has answered your inquiry, please click "Accept as Solution" to help other users find this information.

     

    Cheers,

    Princess

Genreve_S's avatar
Genreve_S
MYOB Moderator

Hi MichaelaH, 


Welcome to the Community Forum.

 

I regret the delay in my response. Typically, the most effective method to divide and assign expenses into various sections is by establishing distinct ledger account codes for them in your chart of accounts. If these accounts are already in place, you can manually code the amount to the respective codes. For instance, refer to this screenshot of the spend money window.

Please don't hesitate to reach out if you need more help with this.

 

If my response has answered your inquiry, please click "Accept as Solution" to assist other users find this information.

 

Thanks,
Genreve

MichaelaH's avatar
MichaelaH
User
3 months ago

Thank you for your response. I was hoping to allocate it even further. Let's take the $1300 in Marketing from your screenshot. I would like 30% of that allocated to In-house sales and the remaining 70% allocated to take-out sales. Is that possible?