Reporting and close templatesAutomate overhead allocation journals in Sage
Modern reads shared costs from Sage and your allocation drivers from Excel, splits rent, IT and other overheads across departments or entities, and drafts the journals for approval.
TriggerWorking day 4
Steps4 steps, from trigger to sign-off
ControlFinancial controller approves before posting
Free to start. No card needed.
Working day 4The instruction
“On working day 4, pull rent, IT, insurance and facilities costs for the month from the shared cost center in Sage. Allocate them using the headcount and floor space drivers in our Excel allocation workbook. Draft one journal per cost type with the workbook attached and ask the financial controller to approve before posting.”
Works with every major ERP
- +100 more
How it runs
4 steps from trigger to sign-off
- 01
Pull shared costs
Reads the month of costs posted to your shared cost centers in Sage.
Sage - 02
Read the drivers
Takes the latest headcount, floor space or revenue drivers from your workbook.
Microsoft Excel - 03
Calculate the split
Allocates each cost type and checks the journal nets to zero.
Modern - 04
Approve and post
The financial controller approves, then Modern posts the journals with the workings attached.
Sage
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FAQs
Post overhead allocation journals: FAQs
Can’t find what you’re looking for? Send us a message and a person on the team will answer.
Any driver you keep in a sheet, such as headcount, floor space, revenue or hours. Modern uses the latest values each month.
Modern uses the new values and notes the change in the journal description so the movement is easy to explain.
Yes. Modern drafts allocation journals in Xero, QuickBooks, NetSuite or Sage.