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Automation and control of repetitive processes is one of the major benefits of using a Financial Management Suite. Manual processes such as monthly allocation and accrual entries slow down closing cycles and introduce multiple points of inaccuracy or error. Epicor Advanced Allocations automatically computes cost and revenue allocations and the resulting journal calculations, streamlining processes, increasing relevance and improving accuracy. This results in shorter close cycles and more accurate financial statements.
Advanced Allocations allows for sophisticated allocation of cost and revenue to multiple projects or departments or locations—ultimately to any entity represented in your corporate financial accounting structure. GL Allocations helps your finance staff to create, execute, retain, and reuse allocations to greatly simplify what can be an otherwise time -consuming and error-prone task.
An Allocation History Tracker keeps a detailed history of allocation runs which provides a comprehensive view of each Allocation run and all GL transactions created grouped by batches and tiers. The application allows for allocation reversal directly from the Allocation History Tracker.
"Advanced Allocations" is part of the Epicor Financial Management line of products, developed by Epicor Software.