Financial Management - PSFT (MOSC)

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SOA Functional Expense Reporting Allocation on Fundraising

in Financial Management - PSFT (MOSC) 1 commentAnswered

Has anyone been successful in automating a journal for SOA functional reporting on "Fundraising" that takes a percentage (e.g. 25%) from all of the expense accounts in one "Institutional" department and moves it to a "Fundraising" department for reporting?

For example, 25% of the expenses for the President's Department need to be recognized as Fundraising and not Institutional for functional reporting.

We currently process a journal monthly to manage this. We are looking to automate the process. Our current process enters a contra expense for that percentage in a "GAAP Acct department" that is also considered Institutional. Then, it puts the 25% in a department labeled "Fundraising" which appears as "Fundraising" for reporting

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