There are two different methods you can use to determine the revenue and cost GL accounts for resources. Which method you use depends on your organization's requirements.
-
Method 1 - Assign a specific GL Account or Main GL Account to a resource. Using this method is recommended if:
- There is one specific GL account used to recognize the item's cost or revenue.
- You use Main GL Accounts and the GL account string is derived from GL dimensions.
- Method 2 - Assign a GL Distribution Scheme to a resource. This method is recommended when the selection of the GL account or Main GL account distribution is based on rules. For example, if the event category is conference, then it uses GL account/Main GL account xxxxxx. If the event category is banquet, then it uses GL account/Main GL account yyyyyy. For more assistance to determine your GL distribution schemes, connect with your primary Momentus contact.
Method 1 - Assign a specific GL Account or Main GL Account to a Resource
When the revenue and/or cost associated with a resource is always distributed to a single GL account/Main GL account, you can maintain it on each resource. To assign a GL account/Main GL account account to a resource:
- Navigate to the Resources page and search for resource to assign the GL account.
- Right-click on the resource and select Edit.
- In the Revenue GL Account drop-down, select the revenue GL account/Main GL account. You may need to add this field to your screen layout if it is not available.
- In the Cost GL Account drop-down, select the cost GL account/Main GL account. You may need to add this field to your screen layout if it is not available.
- Click OK.
You also need to verify your configuration settings are correctly set up to ensure the journal entries flow as expected. You only need to do this one time.
- Navigate to the General Ledger Configuration page and select the General tab.
- Expand the Distribution section.
- In the Revenue Clearing Account field, click Select. The Advanced Search GL Accounts window opens.
- Select the GL account/Main GL account to use as the revenue clearing account.
- Click Select. You return to the General Ledger Configuration window.
- In the Cost Clearing Account field, click Select. You may need to add this field to the window if it is not available. The Advanced Search GL Accounts window opens.
- Select the GL account/Main GL account to use as the cost clearing account.
- Click Select. You return to the General Ledger Configuration window.
- Click OK.
Method 2 - Assign a GL Distribution Scheme to a Resource
GL Distribution Schemes are used to determine which GL accounts/Main GL accounts the cost and revenue are distributed to when creating an invoice, a revenue journal entry or cost journal entry. You may have simple revenue distribution (credit a single revenue account) or complex revenue distribution (credit different GL accounts based on certain criteria).
If using simple revenue distribution, consider using Method 1 above.
If using complex distribution, you need to decide what is going to affect the distribution, prior to creating the GL Distribution Scheme. The criteria used to determine distribution include (but are not limited to):
- Event Category, Class, Type
- Order Department
- Function Usage
- Function Space
See GL Distribution Overview for the full list of criteria.
To create a GL distribution scheme:
- Navigate to the GL Distribution Schemes page and click Add. The Add GL Distribution Schemes window opens.
- Enter the necessary information:
- Description – Name for the GL distribution scheme. The description typically refers to the GL accounts rather than the resource.
- Code – Unique code.
- Status – If checked, the GL distribution scheme is active and can be assigned to resources.
- Click Save (disk). The information saves and the window updates to Edit GL Distribution Scheme.
- Select the GL Distribution tab. This is where you configure the criteria and GL accounts/Main GL accounts for the GL distribution scheme. The software uses the Sequence and Type fields to determine which GL accounts/Main GL accounts are used.
- Click Insert Row.
- Enter the necessary information. The below fields are required.
- Sequence – Order for determining which line to use for the distribution. The software starts with the lowest value and continues in numeric order until a matching line is found.
- Type – Type of distribution, credit (Cr) or debit (Dr).
- Cr Cost/Dr Cost – Credit or debit for cost journal entries. Ensure the Cr Cost is balanced with a Dr Cost line.
- Cr/Dr Deferred Revenue – GL account/Main GL account to use for deferred revenue. Only used if deferred revenue by resource is selected in the General Ledger Configuration. Ensure the Cr Deferred Revenue is balanced with a Dr Deferred Revenue line (normally the revenue clearing account).
- Cr/Dr Revenue – Credit or debit for revenue journal entries (accruals or invoices). Ensure the Cr Revenue link is balanced with a Dr Revenue line (normally the revenue clearing account).
- Cr/Dr Tax WH and Statistics are not as commonly used. Connect with your primary Momentus contact to discuss these options if needed.
- GL Account Name/Main Account – GL account/Main GL account for the distribution line.
- Complete the additional fields based on your criteria for the distribution line, such as Event Category, Event Class or Function Usage.
- Repeat steps 8 - 10 for each GL distribution variation.
- Click OK.
Comments
6 comments
In using Method 2 above, I'm looking for the data tables that house the connection between the resource, it's GL distribution scheme, and the GL distribution accounts. I seem to be able to this by type (in CC770_GL_Distribution), but not by resource. Any direction on how to get a report that lists resources, their scheme, and the GL distribution in that scheme?
Thanks!
1 upvotes
Hi Brook,
Have you had a look at the GL Distributions window from the Main Menu yet? This window will give you a list of the distribution lines from all the GL Distribution Schemes (including the GL Distribution Scheme code), in one window.
To get the list of distribution lines for Resources specifically, you'll need to use Resource in the Distribution Type filter. From here, you can use the Key column (GL Distribution Scheme Code) to connect these lines with the GL Distribution Scheme configured on each Resource.
Unfortunately we don't have an onscreen window to connect these tables (Resources and GL Distributions), but this should be possible by either exporting to excel and using a VLookup, or creating a crystal report/using SQL.
Please let me know if this gets you any closer to getting your required data.
Many thanks,
Chelsea
0 upvotes
Thanks Chelsea!
The issue I'm having with using this screen and the CC770_GL_DISTRIBUTION table is that these seem to be only linked to Resource Type as you mention with the Key, not each individual Resource Code. As some resources have different distributions than their type, I'm not seeing the field I can link to resource code to ensure this is accurate. I am pulling this data into a resource report in Crystal reports where I ran into the issue of uniqueness by resource code, not just type. Any idea where I can find to link the distribution by resource code?
Thanks again!
0 upvotes
Hi Brooke,
Can you try the other way around? It seems more logical to me to start with the list of Resources and their EV370_GL_DISTR_CODE field. You might then be able to pull through lines from the GL Distribution table where EV370_GL_DISTR_CODE = CC770_COMMON_KEY?
Let me know how you get on. If this is still not helping, it might be best to raise a Support ticket.
Many thanks,
Chelsea
0 upvotes
Is it possible to customise a general ledger distribution schema of a package per event?
We have a drinks package on the resource list and price list, which is sold to the customer as a flat rate with a fixed price. After the event, it should be possible to adjust the general ledger distribution scheme based on the consumption of the individual items.
For example:
We sell the customer a drinks package consisting of beer, wine, mineral water and coffee for CHF 30.00/person (beer = general ledger account 31030, wine = general ledger account 31020 etc.).
After the event, it is clear how many bottles of beer, wine, mineral water and how many coffees were consumed. Now I would like to configure the general ledger distribution scheme of the consumption accordingly, i.e. adjust it by percentage. However, the schema stored for this resource is overwritten for all events. Is it possible to define a general ledger distribution scheme for a resource per event?
Thanks!
0 upvotes
Hi Franziska Kägi! I've checked in with the team and this is possible, but the best way to do this would be based on your current configuration, modules, account setup, and more, and this is complicated by being adjusted after the event. Please contact your SCE or VSM for direction for your situation!
0 upvotes
Please sign in to leave a comment.