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How to Use Statistical Accounts for Expense Allocations in NetSuite ERP
This article discusses the use of statistical accounts to perform expense allocations in NetSuite ERP. Statistical accounts are non-monetary accounts that can be used to maintain statistical information for a variety of metrics. For example, a statistical account could be established to maintain the employee headcount by the department in an organization. This statistical account could then be used to allocate the total amount of expenses in a general ledger account for a given time period amongst various departments, for example, allocating rent expense amongst the departments by head count.  The statistical accounts functionality is included with the NetSuite Advanced Financials module. Below we will discuss the following: Enabling features for statistical accounts Creating statistical accounts Viewing statistical accounts Creating statistical journal entries to establish the balances in the statistical accounts Performing expense allocations using statistical accounts Enabling Features for Statistical Accounts You must enable statistical accounts in the enabled […]
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