Cost Allocation

Cost allocation involves distributing expenses across departments, projects, clients, or cost centers to accurately reflect spending and maintain budget integrity. This process provides clarity on financial accountability, enabling precise tracking of project profitability and departmental budgets. Expenses can be split by percentage or amount, with users selecting allocations via dropdowns or pre-filled templates during submission. Automation supports recurring or bulk expense allocations, while finance teams can adjust allocations for accuracy. Integrated with the Chart of Accounts, cost allocation enhances reporting and forecasting, ensuring expenses align with organizational financial structures and sync seamlessly with accounting software.