What is NetSuite Allocation Schedule: Fixed vs Dynamic Explained

Discover what NetSuite Allocation Schedule is, & how fixed vs dynamic allocation rules automate expense & revenue distribution for accurate financials.

What is NetSuite Allocation Schedule

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.

‍Types of NetSuite Allocation Schedules

‍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.