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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
Edit: Click on the Edit icon to enter or change information in the grid.
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.
- To delete the Fringe Allocation matrix, all GL codes will need to be deleted.
Edit: Click on the Edit icon to enter or change information in the grid.
A. 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
- Place a checkmark in each box to indicate which individual class is eligible for the fringe benefit selected.
Rate (%): If Fixed Rate was selected, enter the fixed fringe benefit percentage rate for each employee class, Rate column. 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
C. Fringe Allocation: Select the type of allocation base that will be used. This selection must be the same for all Fringe GL Codes.
D. Fringe Base: Check each item if it is to be included in the fringe base.
F. Allocate Fringe Costs To: Check 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.
To delete a GL code, Highlight the GL code to be removed and click on the delete button in the bottom right.
D. Fringe Base: Check each item if it is to be included in the fringe base.
F. Allocate Fringe Costs To: Check 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.
To delete a GL code, Highlight the GL code to be removed and click on the delete button in the bottom right.