Inventory Cost Allocations for Bulk Purchases

Inventory Cost Allocations for Bulk Purchases

Flowers and Turtle from Phyllis' back yard

Do you have purchases (such as postage or fuel) that are bought in bulk and later cost-allocated to various expenditure accounts (and perhaps involving more than one fund) based on usage? Would you mind letting me know how you’re doing this in the OpenRDA software?  Is it working well for you? And, does it allow you to easily establish fund balance amounts for these inventories (non-spendable in accordance with GASB 54)?

I apologize for all the questions but I promise I do have some answers. And, yes, they’re in one of my problems/solutions white papers. In that paper, I’ll present three cost allocation solutions; one I’ve been recommending for a rather long time; one revealed itself as the result of a 2013 enhancement to the Vendor Payments module (one of those Aha! moments); and the other is . . . well, you’ll have to get the white paper.

Phyllis

phyllis.flowers@gmail.com

To get a copy of the white paper, please leave a comment letting us know you would like one.

 

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