Allocating Transaction Amounts to Projects

The ability to track job costs, such as labour charges, materials, overhead, and licences, is essential when you want to determine overall job profitability, or need to provide an estimate for a future project.

When can I allocate transaction amounts to a project?

When you record transactions, you can associate individual line items or the total amount with specific projects. A single line item amount can be allocated to one or more projects, or you can allocate entire transactions to one or more projects.

By default, all revenue and expense accounts allow project allocations. You can also allocate entries associated with asset accounts, but you must first set up the asset accounts manually to do so.

ClosedTransactions in which you can allocate amounts

ClosedAllocation methods

Allocating payroll expenses

Allocating expenses for salaried employees: If projects are set up to allocate payroll expenses by hours, you can allocate payroll amounts for an employee who is on salary when you process their paycheque. (Sage 50 Quantum Accounting)

Allocating expenses on a payroll cheque run: When you process a payroll cheque run, you first have to determine if you want to apply the allocation to all paycheques or just one or more paycheques.

Industry-specific allocation examples

ClosedNon-profit

ClosedAgriculture

ClosedManufacturing

ClosedReal Estate/Property Management

ClosedProfessional Services

ClosedPersonal Services

What do you want to do?