A NetSuite allocation schedule is a built-in tool that automates the distribution of amounts—like expenses or revenue—across departments, accounts, or locations. Part of the Advanced Financials module, allocation schedules simplify period-end processes and eliminate the need for manual journal entries. Whether you're using fixed percentages or dynamic, data-driven allocation based on statistical accounts, this guide explains how to set up and optimize allocation schedules in NetSuite.

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.

Creating an Allocation Schedule
To set up an Allocation Schedule in NetSuite, navigate to:
Transactions > Financial > Create Allocation Schedules.

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In the header section of the form:

• Enter a name for the allocation schedule.
• Select the appropriate subsidiary (if using NetSuite OneWorld).
• Specify the frequency for how often the allocation should run.
• Choose "Dynamic Allocation" as the allocation method.

In the "Source" subtab, select the account from which expenses will be allocated. You can narrow down the allocation further by applying filters such as:

• Entity name (e.g., employee, customer, or vendor)
• Financial segments including class, department, and location
• Custom segments, if applicable

These filters help ensure that only the relevant transactions are included in the allocation process.

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Automating your expense and revenue distribution with NetSuite Allocation Schedules not only saves time but also improves the accuracy of your financial reporting. Whether you're managing shared costs across departments or handling multi-subsidiary allocations, Fixed and Dynamic Schedules give you the flexibility and control you need.

Need help setting up or optimizing allocation schedules in NetSuite?
Talk to our team of certified NetSuite consultants today and streamline your financial processes with confidence.

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