State Aid Finance Streamlining Cost Accounts. Advantages: Quicker Transaction Entry Simpler time cards Detail in one location (construction) Fewer inventory.

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Presentation transcript:

State Aid Finance Streamlining Cost Accounts

Advantages: Quicker Transaction Entry Simpler time cards Detail in one location (construction) Fewer inventory transactions Automated transactions (spreads) Reporting is not compromised

Daily time is posted to the unallocated accounts then spread at year end to the appropriate costs in the Routine Maintenance Section. Inventory purchases are posted to the unallocated accounts then spread at year end to the appropriate costs in the Routine Maintenance Section. Detail for construction is kept in the application used by the county for contract payments, there is no need to replicate information.

The unallocated spreads target the appropriate cost centers and road systems at year end, based on type of work, mileage, and road surface. The results are quite similar when cost are spread at year end versus coding transactions directly to the appropriate cost center. There is a great time savings to all employees, time card preparation and input.

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