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Fringe Allocation
Function
This matrix will determine where and how costs from the fringe benefit pool will be distributed during month end cost allocation procedures.
Things You Should Know
Operating Instructions
Edit: Click on the Edit icon to enter or change information in the grid.
Fringe GL Code: Click on the combo box arrow to select the fringe GL expense code to be included in the fringe benefit pool.
Fringe Benefit Rate: Click on the combo box arrow to select the type of rate (actual or fixed) to be applied. This selection must be the same for all Fringe GL Codes.
Actual Rate: Click on the combo box arrow and select the Actual Rate option if the fringe benefit pool is to be allocated using actual rates.
Fixed Rate: Click on the combo box arrow and select the Fixed Rate option if the fringe benefit pool is to be allocated using a fixed rate. The fringe benefit rate percentage will be entered into the grid as instructed below.
Allocate(Y/N): Place a checkmark in the box to indicate if each individual class is eligible for the fringe benefit selected.
Rate (%): If the Fixed Rate option was selected earlier, enter the fixed fringe benefit percentage rate for each employee class within the first fringe GL code. It will then appear when each GL code is selected. If you had set up an actual rate originally and now change to a fixed rate, it will zero out the grid and you will have to re-enter the checkmarks in the correct boxes.
Fringe Allocation: Click on the combo box arrow to select the type of allocation base that will be used. This selection must be the same for all Fringe GL Codes.
Fringe Base: Click on the box to the left of the item if it is to be included in the fringe base. A check in the box will include the item, whereas, a blank box will not. This selection must be the same for all Fringe GL Codes.
Allocate Fringe Costs To: Click on one of the circles to the left of the options to select the method to be used to allocate fringe costs. If your agency requires that fringe costs be allocated through the indirect cost pool, then the option Indirect Pool would be selected. If not, select the option Elements. This selection must be the same for all Fringe GL Codes.
This matrix will determine where and how costs from the fringe benefit pool will be distributed during month end cost allocation procedures.
Things You Should Know
- The Fringe Benefit Rate, Fringe Allocation, Fringe Base and Allocate Fringe Costs To must be the same for all Fringe GL Codes.
- The following operating instructions need to be followed for each Fringe GL Code that will be included in the fringe benefit pool.
Operating Instructions
Edit: Click on the Edit icon to enter or change information in the grid.
Fringe GL Code: Click on the combo box arrow to select the fringe GL expense code to be included in the fringe benefit pool.
Fringe Benefit Rate: Click on the combo box arrow to select the type of rate (actual or fixed) to be applied. This selection must be the same for all Fringe GL Codes.
Actual Rate: Click on the combo box arrow and select the Actual Rate option if the fringe benefit pool is to be allocated using actual rates.
Fixed Rate: Click on the combo box arrow and select the Fixed Rate option if the fringe benefit pool is to be allocated using a fixed rate. The fringe benefit rate percentage will be entered into the grid as instructed below.
Allocate(Y/N): Place a checkmark in the box to indicate if each individual class is eligible for the fringe benefit selected.
Rate (%): If the Fixed Rate option was selected earlier, enter the fixed fringe benefit percentage rate for each employee class within the first fringe GL code. It will then appear when each GL code is selected. If you had set up an actual rate originally and now change to a fixed rate, it will zero out the grid and you will have to re-enter the checkmarks in the correct boxes.
Fringe Allocation: Click on the combo box arrow to select the type of allocation base that will be used. This selection must be the same for all Fringe GL Codes.
Fringe Base: Click on the box to the left of the item if it is to be included in the fringe base. A check in the box will include the item, whereas, a blank box will not. This selection must be the same for all Fringe GL Codes.
Allocate Fringe Costs To: Click on one of the circles to the left of the options to select the method to be used to allocate fringe costs. If your agency requires that fringe costs be allocated through the indirect cost pool, then the option Indirect Pool would be selected. If not, select the option Elements. This selection must be the same for all Fringe GL Codes.
