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New to NetSuite | Understanding the difference between Dynamic Allocation vs. Fixed Rate Allocation
NetSuite helps businesses organize their finances by offering different ways to divide, or allocate, revenue and costs. Two important allocation methods in NetSuite are Fixed Rate Allocation and Dynamic Allocation. Here is what each one means and how they are different.
Fixed Rate Allocation
Fixed Rate Allocation means you choose a percentage or amount for each part of your allocation at the very beginning. This percentage stays the same for the entire time you use the schedule. For example, if you decide to allocate sixty percent of an expense to one department and forty percent to another, these numbers will not change. Even if your business grows or changes, the allocation stays fixed. This method is simple and works best if your allocation needs do not change often.
Ayitah Tallada | General Accounting and Asset Management
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