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Manual Indirect Cost Allocations in NetSuite 2023.2

Manual generation of indirect cost allocations introduced in NetSuite 2023.2 enhances order management capabilities.

·2 min read·From NetSuite Release Notes PDF

Starting in NetSuite 2023.2, users can manually generate indirect cost allocations through the new capabilities in the Indirect Cost Allocation for Grants SuiteApp. This feature is particularly useful for organizations that need greater control over their allocation processes, allowing administrators and finance teams to ensure that costs are distributed accurately according to their project requirements.

How to Manually Generate Indirect Cost Allocations

To access this new functionality, navigate to Indirect Cost Allocation > Generate Indirect Cost Allocation. This straightforward process empowers users to generate allocations without relying solely on automated methods, ensuring that managers can account for unique situations or adjustments as needed.

Steps for Manual Generation

  1. Go to Indirect Cost Allocation in your NetSuite dashboard.
  2. Select Generate Indirect Cost Allocation.
  3. Follow the prompts to complete the allocation process.

This manual generation capability addresses common scenarios faced by project managers:

  • Adjusting allocations based on project-specific metrics.
  • Handling exceptions in cost distribution.
  • Ensuring compliance with contract terms in grant projects.

This enhancement provides a streamlined and transparent way to adjust costs, which can benefit both accounting professionals and project leaders.

Who This Affects

  • Administrators: Responsible for setting up and managing indirect cost allocations.
  • Finance Teams: Directly involved in the allocation and budgeting processes for various projects.
  • Project Managers: Need the flexibility to manually adjust allocations to align with actual project performance and expenditures.

Key Takeaways

  • Manual generation of indirect cost allocations is now available in NetSuite 2023.2.
  • The new feature allows for more granular control over cost distribution.
  • Access the functionality easily via the Indirect Cost Allocation menu.
  • Useful for finance and project management teams needing tailored allocation strategies.
Source: Manual Generation of Indirect Cost Allocations — NetSuite Release Notes PDF. This article was generated from official Oracle documentation and enriched with additional context and best practices.

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