NetAsset - Allocations

Overview

NetAsset can facilitate the split out of G/L impacts based on information entered on a custom child allocation record. The following is the setup:

Creating the Child Allocation Record

Navigate to Customization > Lists, Records, & Fields > Record Types > New and do the following when defining a new Child Allocation record:

  1. Enter a "Name" for the allocations being defined (e.g. NetAsset Allocation)
  2. Uncheck "Include Name Field" as most of the time individual allocation records do not need to be named
  3. Change the "Access Type" to "Use Permission List". Navigate to the Permissions subtab, add desired roles, and give them full access
  4. Check "Allow Child Record Editing" to allow allocations to be entered as an inline sublist from the asset record
  5. Save the new Custom Record Type

Next, drill back into your Allocation record definition to add fields to define the mapping. Do this by clicking the "New Field" button.

The following fields are required:

  • Asset Field. Enter "Asset" in the "Label" field. Change the "Type" to "List/Record" and select the appropriate List/Record. Check "Record is Parent" and specify in the "Display" subtab you want to enter the allocations in via the "Parent Subtab" field. Check "Show in List". Click "Save" to save and exit back out to your NetAsset allocation record, or select the dropdown arrow next to the "Save" button and select "Save & New" to save the current field and open a new field.

  • Segmentation Field (can be any field type so long as it matches the field type of where this information will eventually source to on the transaction). In the example below, we've chosen "List/Record" as the Type and selected "Class". Check "Show in List". Click "Save" to save and exit back out to your NetAsset allocation record, or select the dropdown arrow next to the "Save" button and select "Save & New" to save the current field and open a new field.

          * Subsidiary allocation not available as a segmentation field.

  • Amount Field. Enter "Amount" in the "Label" field. The "Type" can be either a Decimal Number field or an Integer. Check "Show in List". Click "Save" to save and exit back out to your NetAsset allocation record, or select the dropdown arrow next to the "Save" button and select "Save & New" to save the current field and open a new field.

Once all fields have been added to the Allocation record, they will appear at the bottom of the NetAsset Allocation Record.

 Next, a NetAsset Custom Sourcing record needs to be setup to pull from the allocation record to the posted transaction.

Sourcing Allocations to Posting Asset Transactions

Navigate to NetAsset > NetAsset Setup > Manage Custom Sourcing > New

Enter field information to define sourcing from the allocation record to the posting transaction (make sure to specify the "Type" as "Allocations" to ensure all necessary fields are available)

FieldDescription
NameInput a unique name to define the custom sourcing.
TriggerSelect Allocation
Allocation RecordThe custom record used to define the allocation. 
Allocation Asset FieldThe field referencing the asset on the allocation record. Used to identify which asset the allocation applies to.
Allocation Amount FieldThe amount to allocate to the "From Allocation Field" in proportion to the other allocation records on the asset.
From Allocation FieldInput the asset field to source to (e.g. Location).
To Transaction FieldInput the transaction field to source from (e.g. Location).
Apply To ImpactsFilter the impacts for which this custom sourcing should apply (e.g. apply sourcing only for debits).
Apply To Transaction TypesFilter the transaction types for which this custom sourcing should apply (e.g. apply sourcing only for Termination entries).
Apply To AccountsFilter the accounts for which this sourcing should apply to (e.g. apply sourcing only on Balance Sheet accounts).
Apply To SubsidiariesFilter the subsidiaries for which this custom sourcing should apply (e.g. apply sourcing only for the Parent Company).
Apply To Asset TypesFilter the asset types for which this custom sourcing should apply (e.g. apply sourcing only for Vehicle assets).

Once this record is saved, the only remaining setup activity is to make sure that the allocations subtab appears on the NetAsset Asset form. It's recommended to use the provided "Allocations" subtab for a cleaner interface. If the Allocations Subtab is not visible, select the "Customize" button in the upper left corner while editing the form and set the Allocations tab to visible.

The final result splits out g/l impacts based on the allocations defined on the asset record:

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