Are Form 8854 Allocate 2023-2024

Welcome to the short training video on how to create an allocation schedule in NetSuite. This video is presented to you by business solution partners. Today, I'll show you how to access the allocation schedule entry form, how to enter frequency, start date, and remaining allocations for your schedule. We'll go over how to enter source and destination data for allocations, how to create journal entries from allocation schedules, and how to review journal entries created from allocation schedules. I'll also show you how to access and edit existing allocation schedules. Before we begin creating a locational schedule, you need to determine what expenses are being allocated and what is the criteria for the allocation. For example, you can tell the system to allocate everything in one specific account out into multiple accounts or out into departments. Or you can tell the system to allocate only the expenses from a specific vendor within an account out into different account or different departments. Today, I will now show you how to allocate all expenses in advertising into two departments within the same advertising account. First, let me show you that my advertising expenses of $12,000 have no departments assigned to them. For this, I'm going to run the same income statement report by department. Let's change the department down under the column and refresh. You can see that advertising totals have no departmental time assigned to it, and then my admin and marketing departments have zero advertising expenses. Next, I'm going to create my allocation schedule. I'm using my accountant role today, and in this case, my allocation scheduled entry form is under financial lists, create allocation schedule. I will name my allocation schedule "Advertising Allocation" because I only have access to one for surgery. The system is defaulting to that one, but if...