How to set up Dynamic Intercompany Allocation Schedules in NetSuite

In NetSuite, you can expense allocations within a single subsidiary using the Expense Allocation. When you want to apply costs to both the source and the destination of the allocation, you will need to create an Allocation Schedule.

But if you have multiple subsidiaries, and need to distribute a balance between multiple destination subsidiaries, you will want to use NetSuite’s Intercompany Allocation Schedules. Once you have this set up in NetSuite, you can allocate these costs out by things like headcount, transaction volume by subsidiary, location, and department.

Summary of the Tutorial: How to Set Up Dynamic Allocation Schedules in NetSuite by Headcount

Just follow the simple steps in the video to set up your own Dynamic Intercompany Allocation Schedule in NetSuite (in this example, we are looking at dynamic allocation based on headcount). Or, just follow the steps below the video.

Step by Step Instructions for Setting up Dynamic Intercompany Allocation Schedules

• Enable Statistical Accounts (in Company > Enable features)
• Create a Statistical Account in the Chart of Accounts
• Create a statistical schedule based on previously defined saved search (in this example, count of employees grouped by location and subsidiary)
• Create Statistical journal entry
• Create intercompany allocation schedule
• Set up Statistical account used to provide dynamic allocation
• Set up the source and destination accounts
• Set a date
• Create journal entries from schedule
• Execute Allocation Batches