Find out how you can use the item value weighting method of doing a spread allocation. HELPFUL RESOURCES, LINKS & TRANSCRIPT INFORMATION BELOW: (click on ‘Show More’) ____________________________________________
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TRANSCRIPT
When allocating an overhead item to multiple direct cost items, ‘weighting’ determines how the overhead will be spread.
The default setting for weighting is ‘Item value’.
When you carry out the allocation, you will simply check these boxes to select the direct cost items.
During the spread calculation, the overhead item will spread across these selected items proportionally based on the direct cost item’s estimated total. In this simple example, there is a 40% 60% split between the two selected items, so the overhead items will be spread 40% to this item and 60% to this item.
If you’d like to use this method, make sure you’ve entered a Total Percentage Allocated -here. This allows you to specify what percentage of the overhead item’s value you’d like to allocated to the selected items, in this example, we’re spreading 100% of this overhead item across the two selected direct cost items.
Note that if you’re allocating to an item with zero value, you’ll need to use the Entered Percentage weighting. To learn about ‘Entered Percentage’, click on Savvy or follow the link below this video where we’ve also included a link to our Knowledge Base article on spread allocations.
Notes; The below words are excluded from the script but may included later in the training
Even after you’ve selected the items for the allocation, you may change the Weighting method. When changing from Item Value to Entered Percentage, there will now be a flat average percentage allocated against each selected item.
When changing from Entered Percentage to Item Value, the percentages entered are replaced with checked boxes.
Note the Total Percentage Allocated will not change.
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