Pocket Ledger The Misunderstood Module. What’s on our agenda for today? Pocket Ledger Preferences What Are Cost Centers? Adding a New Cost Center Recording.
Post on 24-Dec-2015
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What’s on our agenda for today?
• Pocket Ledger Preferences• What Are Cost Centers?• Adding a New Cost Center• Recording Expenses• Reviewing Entries• Pocket Ledger Reports• Course Cloning & Pocket Ledger• Questions
Pocket Ledger
• Looks at a single course
• Aids in Planning & Decision-making
• Estimates Costs & Revenue
• What Ifs vs Actuals
• Tracks actual expenses and income
• Assign expenses to a group of courses
• Report on a set of like expenses: overall marketing for term
Budget Builder
Future – Estimating – Planning BEFORE the event
Recording What actually Happened Expense WiseDURING and/or AFTER
What are cost centers?
• Specific areas (accounts) for organizing expenses
• Automatically created for a course when the course is created
• The Cost Center code will be the same as the Course code
Cost Centers
• Add new Cost Center for expenses not tied to a specific course. Examples include overhead, postage & snow removal
Adding a New Cost CenterModule / Pocket Ledger / Cost Center Codes / Add
For expenses not tied to a specific course: postage, snow removal, HVAC repair
You can now add records to the new cost center
Recording Expenses
• Enter expenses in a single cost center
• Post from the course screen (instructors)
• Mass distribute a single expense
Module / Pocket Ledger
Record expenses three ways:
Recording Expenses
• By cost center lookup
• Edit/View entire set of Cost Center Codes
Navigation…
Get to the Record(s) a couple of ways:
Adding a Pocket Ledger Entry
• File / New / Ledger Entry
• Select the appropriate cost center (course)
• Account Code – account to which expenses are applied. Account codes used in Pocket Ledger are the same codes used in Courses.
• Actual/Projected – radio buttons to specify if expense is an actual or projected expense.
• Expense/Income Record – radio buttons to specify whether record is an expense or income record.
• Expense Classification Code – expense classification code for budget/ledger management purposes. Note: the Major Expense Category is tied to the Expense Classification code.
Categorizing Expenses
Expense Classification & Major Expense Category work together,
Hotel, plane and mileage (expense classification codes) are part of the larger Major Expense Category, Travel.
Module / Codes
Expense Classifications
and Major Expense
Categories can be edited in the Universal Code
Editor
• Vendor – company from which item was purchased (if any). The vendor information is stored in the Firm database
• Date Posted – the date the expense is posted to the ledger.
• Date (of expense) – the date the expense/income was incurred. This date defaults to the Course End date unless it has passed, then it defaults to the current date.
Why mass distribute an expense?
• Expenses that are split between multiple courses:– Catalog– Electricity– Vehicle
Important notes regarding Instructor Pay
Once an instructor pay record is posted it must be manually updated
If you edit the instructor pay record after posting it to the Ledger, you must also apply your changes to the Ledger record
Also, if you remove an instructor from a course, the Ledger record is not automatically deleted. You must open the Cost Center and delete the record
Pocket Ledger Reports
• Expense Listings
• Income/Expense Balances• Snapshot (income & expenses
for a given time period)
Reports / Pocket Ledger
Pocket Ledger Reports
• Statistics Reports – Course… – Show Net Income (IF you record Expenses)
Statistics…
What happens if I clone a course?
When cloning a course you will be ask if you also want to clone the ledger records.
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