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Pocket Ledger

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 Expenses Reviewing Entries Pocket Ledger Reports Course Cloning & Pocket Ledger Questions. Pocket Ledger. Budget Builder.

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Pocket Ledger

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  1. Pocket Ledger The Misunderstood Module

  2. 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

  3. Pocket Ledger Budget Builder • Looks at a single course • Aids in Planning & Decision-making • Estimates Costs & Revenue • What Ifs vs Actuals Future – Estimating – Planning BEFORE the event Recording What actually Happened Expense Wise DURING and/or AFTER • Tracks actual expenses and income • Assign expenses to a group of courses • Report on a set of like expenses: overall marketing for term

  4. Let’s start at the beginning . . .Pocket Ledger Preferences

  5. 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

  6. Cost Centers • Add new Cost Center for expenses not tied to a specific course. Examples include overhead, postage & snow removal

  7. Adding a New Cost Center Module / 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

  8. Recording Expenses Module / Pocket Ledger • Enter expenses in a single cost center • Post from the course screen (instructors) • Mass distribute a single expense Record expenses three ways:

  9. Recording Expenses Navigation… • By cost center lookup • Edit/View entire set of Cost Center Codes Get to the Record(s) a couple of ways:

  10. Adding a Pocket Ledger Entry • File / New / Ledger Entry • Select the appropriate cost center (course)

  11. 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.

  12. 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.

  13. Module / Codes Expense Classifications and Major Expense Categories can be edited in the Universal Code Editor

  14. Vendor – company from which item was purchased (if any).  The vendor information is stored in the Firm database

  15. Other Detail – enter miscellaneous notes (up to 20 characters).

  16. 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.

  17. Why mass distribute an expense? • Expenses that are split between multiple courses: • Catalog • Electricity • Vehicle

  18. Mass Distribute an Expense Module / Pocket Ledger / Ledger Entries – Mass Entry

  19. Posting Instructor Pay Post instructor pay records to Pocket Ledger by clicking “Post to Ledger”

  20. 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

  21. Reviewing Cost Center Entries View the list of expenses by clicking the List CC Entries button

  22. Reviewing New Entries View a list of NEW expenses by clicking the List New Entries button

  23. Pocket Ledger Reports Reports / Pocket Ledger • Expense Listings • Income/Expense Balances • Snapshot (income & expenses for a given time period)

  24. SnapShot Report

  25. Pocket Ledger Reports Statistics… • Statistics Reports – Course… • Show Net Income (IF you record Expenses)

  26. What happens if I clone a course? When cloning a course you will be ask if you also want to clone the ledger records.

  27. Questions?

  28. Join us November 4, 20082:00 CentralConference Planning

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