The Allocator Setup Process
Using Allocations in Figured lets you focus both on farm and tracker level performance. To use the Allocator, you'll need to go through the setup wizard - this will appear the first time you access the allocator. There are three steps in the process.
Allocator configuration options
Select the start date
This is the date at which you wish to start allocating transactions from, no transactions prior to this date will be visible in the allocator.
Changing this date can impact existing allocations, so be careful adjusting this if you're already using the Allocator - reach out to the Figured team if you have any questions.
Select your operation tracking category / class
Here you are selecting the relevant tracking category (Xero) or class (QBO) from your accounting system, this can then be used to set Allocation Rules and automate allocations.
If you aren't using tracking options/classes in your accounting system yet, you can leave it as 'No Tracking'. This can be changed at a later date if necessary.
Important: Enabling or changing a tracking option/class can remove existing allocations! If you have existing allocations in Figured, and you then enable this setting or change the selection, historic allocations that have tracking options/classes applied will be removed and you'll need to re-allocate them or set rules to allocate these automatically.
Otherwise, to avoid this you can either create new tracking options/classes in your accounting system, or remove tracking options/classes from existing transactions before enabling. Reach out to the Figured team if you have any questions.
Check out this article on Allocation Rules to find out more about how these rules work.
Select the accounts you want to allocate
With this setting you control which of your accounts you'd like to see in the allocator and allocate transactions from. Only transactions from the accounts selected here will be available for allocation in the tool - these are the income/expense accounts you wish to apply to your trackers, or use to purchase products into Inventory.
Important: The selection of accounts can be edited here at any time. However, note that if you deselect accounts with existing allocations, those allocations will be removed - so be careful when changing the selection of accounts!
Note: After setting the Allocator up for the first time, these settings can be changed anytime. Click on the settings cog next to Allocation Rules to access the configuration page.
