Cost Allocations Management System
With This System Your Computer Can Automatically Distribute Costs According To Your Cost Allocation Plan
You define the allocation base and date ranges to set up distributions agency wide or within grants and programs; the system instantly allocates all costs and provides complete audit trails.
Automatic Cost Allocations Based On The Approved Plan
Using the Cost Allocations Management System, your staff can quickly describe to the computer the approved cost allocation plan...from the simple to the complex. You define the allocation base and date ranges to set up allocations within individual grants and programs -- or throughout the whole agency. Based on the allocation requirements and parameters which are entered, the system automatically distributes those costs without any manual intervention. In addition, the Cost Allocations Management System provides complete, accurate audit trails of all transactions.
The Cost Allocations Management System allows you to set up and distribute overhead costs in many ways. Costs can be allocated -- based on a fixed rate; a fixed rate with a carry forward; and a provisional rate with adjustments to actual for any time period (e.g., annually, semi-annually, quarterly, monthly).
In addition to the manner of distribution, the basis for distribution can be modified. For example, fringe costs can be distributed based on salaries, and indirect costs on the basis of salaries plus fringe.
Easily Set Up & Distribute Overhead Costs In Many Ways
Or, as another example, costs can be distributed based on all direct expenses less vendor contracts. The options are endless. And, you can budget those costs to be distributed, distribute the costs, and still compare actual costs to budget.
For example, a budget for fringe costs can be developed within the system. These costs can be automatically distributed to direct projects using the Cost Allocations Management System. But even after the allocation process, a comparison of budget to actual fringe costs is always available by line items.
The system also supports "Usage Allocation" of any resource (e.g., vehicle costs allocated based on mileage, computers based on connect time, etc.). An unlimited number of allocations can be set up. And, the allocations can be nested (i.e., allocations can depend on the results of other allocations).
With the Cost Allocations Management System, agency administrators can easily set up cost distribution plans ranging from the very simple to the very complicated.
They can rapidly set up allocations within grants or funding sources, within programs, or throughout the entire agency. Once the approved cost allocations plan has been described to the computer, the system can automatically, accurately and appropriately distribute costs -- without any manual effort on the part of your staff.
The Cost Allocations Management System enables your computer to do almost all of the work of allocating overhead and other indirect costs within grants and programs.
Complete & Accurate Audit Trail & Reporting Of All Transactions
Once your approved "cost allocation" plan has been fully described to (entered into) the system, cost distribution can be performed automatically...with total accuracy, timeliness and integration. Plus, the Cost Allocations Management System ensures you get easy to follow audit trails of all cost allocations and related transactions.
Using the Cost Allocations Management System, you'll benefit by the elimination of manual effort -- and by enhanced efficiency, improved audit trails and comprehensive reporting.
Benefit By Instant Cost Allocations & Clear Audit Trails.
- Allows agency to fully describe approved cost allocation plans to computer
- Automatic allocation of costs based on approved plan -- with no manual effort required
- Handles cost allocation plans ranging from simple to complex
- System produces accurate, complete audit trails of all costs allocated
- Enables set-up of allocations within grants & programs or throughout agency
- Provides for many different ways to set up and distribute overhead costs
- Includes all necessary reporting of plan set-up & actual allocations to be posted
- Fully integrated with Project Cost Management System and other systems in Regional Council Management System family
- Improves timeliness & accuracy of both cost allocations & related audit trails