Introduction - Allocate costs manually by using cost journals

  • 6 minutes

In cost journals, you can post entries that do not come from the G/L or that are not automatically generated by allocations. You might have to use this method for the following cases:

  • Pure cost entries

  • Internal charges between cost centers

  • Manual allocations

  • Corrective entries between cost types, cost centers, and cost objects, which you can post either individually or on a recurring basis

To set up a cost journal, follow these steps:

  1. Select the Search for Page icon in the top-right corner of the page, enter Cost Journal Templates, and then select the related link.

  2. Select New.

  3. Fill in the Name and Description fields.

  4. Select **Related > Templates > Batches.

  5. Select New.

  6. Fill in the Name and Description fields.

  7. In the Bal. Cost Type No. field, you can fill in the default balancing cost type.

  8. The Bal. Cost Center Code and Bal. Cost Object Code fields are automatically filled in with the default values from the balancing cost type. If you want to, you can change the values at this point.

The Delete after Posting option specifies whether the posted journal lines are deleted. If the option is cleared, you can use the posted journal lines again. After the posting, only the posting date is deleted. You can use the option for monthly recurring cost entries.

Use cost journals

Watch the following demonstration video on using cost journals.