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Insurance Accrual - Allocate to Projects

K
Jr Varsity II
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Is anyone allocation insurance to their projects through payroll or through projects? Looking to allocate GL insurance based on a % of gross with a weekly cap per employee. I was thinking to utilize an additional Benefit Code on the WCC Codes, but I get an error stating an attempt was made to add a duplicate entry when I try to create the code as associated with Work Class Comp.

If it’s not associated with WCC, you get an error adding it to the WCC code stating the Code doesn’t exist. 

 

Any thoughts? Is allocation rules a better route?

Best answer by Laura02

Hello,

It’s common in Projects, to use Project Allocation Rules to distribute payroll burden across projects based on the Labor Hours  posted to the projects. Here is an example where we apply an extra $7.50 per hour to the Projects for each hour of Labor coming through on the timesheets:

Project Allocation Rule: BURDEN

On the Allocation Settings, you can choose whether to post the burden to projects only, or to create a GL entry to move costs out of Payroll Insurance, for example, and into a Project Cost/expense account.

Laura

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J
Freshman II
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  • jdresel
  • Freshman II
  • October 5, 2023

I think this would be a good product enhancement idea.

 

Thanks,
Jeremy

Chris Hackett
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  • Chris Hackett
    Chris Hackett
Laura02
Captain II
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  • Laura02
  • Captain II
  • October 5, 2023

Hello,

It’s common in Projects, to use Project Allocation Rules to distribute payroll burden across projects based on the Labor Hours  posted to the projects. Here is an example where we apply an extra $7.50 per hour to the Projects for each hour of Labor coming through on the timesheets:

Project Allocation Rule: BURDEN

On the Allocation Settings, you can choose whether to post the burden to projects only, or to create a GL entry to move costs out of Payroll Insurance, for example, and into a Project Cost/expense account.

Laura

Laura ~ Klear Systems, Inc. Irvine, CA. ~ Click my logo to Follow me ~
Chris Hackett
J
2 people like this
  • Chris Hackett
    Chris Hackett
  • J
    jdresel
J
Freshman II
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  • jdresel
  • Freshman II
  • October 6, 2023

@Laura02 Thanks, that solves a different problem for me :-)

 

For GL insurance allocation, I suppose you could use WC code as a trigger for the allocation?    This would create 5-10 allocation rules?

 

Jeremy

Laura02
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  • Laura02
    Laura02
Laura02
Captain II
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  • Laura02
  • Captain II
  • October 9, 2023

Hello Jeremy,

You may only need 1 Allocation Rule for insurance.The Allocation Rule I showed above is basic with hard-coded $7.50 per hour rate. Allocation Rules can do so much more -- they’re very flexible!! 

Consider adding an Allocation Rules that uses Rate Lookup Rules.  Using the Rate Types, Tables, and Rate Lookup Rules, Acumatica can assign different rates to different employees, projects, tasks, account group, and/or labor item.  This example from Sales Demo is automatically determining rates that changed based on the position (Labor Item) attached to employees.

The above idea is another project allocation, with option to post to the Project or to both GL and the project.

 

Laura

Laura ~ Klear Systems, Inc. Irvine, CA. ~ Click my logo to Follow me ~
Chris Hackett
1 person likes this
  • Chris Hackett
    Chris Hackett

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