Budget Builder's Companion Pocket Ledger Budget Builder's Companion

Agenda What is Pocket Ledger? Pocket Ledger Preferences Accessing Pocket Ledger Pocket Ledger Screen Cost Center Codes Instructor Pay Mass Distributing Pocket Ledger Records Pocket Ledger Reports

What is Pocket Ledger? Track course expenses and income Generate profit/loss reports Record, track, and plan the finances of each course offered Track different types of expenses Record income other than registrations (e.g. grants, gifts, etc.) Identify expenses as actual or projected

What’s the Big Deal? Gives you REAL (close) P/L picture of programs Can help w/ Vendor Questions/Service But… you probably will be doing some “Double Dealing” (have to enter some data twice)

Pocket Ledger Preferences Enable/disable various fields on the Pocket Ledger screen. To access the preferences, select Edit > Preferences, then select the Pocket Ledger tab.

Accessing Pocket Ledger Open a Course record. Click the Pocket Ledger button.

Accessing Pocket Ledger You can also access Pocket Ledger from the Module > Pocket Ledger menu: Ledger Entries - Single Cost Center: look up the course to see Pocket Ledger entries for the selected course. Ledger Entries - All Ledger Entries: allows you to view all Pocket Ledger records.

Pocket Ledger Screen

What is a Cost Center? A "Cost Center" is where you record expenses and additional income for a course. A cost center is automatically created when you add a course record. You can also create custom cost centers, e.g. create a cost center to record overhead costs for a term.   Create a new Cost Center from Module > Pocket Ledger > Cost Center Codes.

Pocket Ledger Screen Mark records as Actual or Projected, and Expense or Income. Note: registration income is not entered into Pocket Ledger. It is recorded through the registration/ payment system. Only record additional income such as grant monies.

Pocket Ledger Screen The Date Posted and Date (of expense) are set to the current date by default. Edit the dates, if desired.

Pocket Ledger Screen Categorize expenses into major and sub categories (Expense Classification) Note: Major Expense Categories are set on the Expense Classification record. Both are edited from Module > Codes (LEDGER: Expense Classification Codes and LEDGER: Major Expense Categories)

Mark records as received/paid. Pocket Ledger Screen Vendor information is stored as a Firm record, marked as a Vendor. View other records for this Cost Center with the List CC Entries button. Mark records as received/paid. (Optional.. As desired)

Instructor Pay Create a Pocket Ledger record for Instructor Pay from the course Instructor tab, with the Post to Ledger button. Note: you cannot edit the Pocket Ledger record with the Post to Ledger button. If you post the record then need to edit the details (e.g. change the amount), you must go to the record in Pocket Ledger to edit it.

Mass Distributing Pocket Ledger Records MENU: Module/Pocket Ledger/Leger Entries-Mass Entry Distribute an expense to a group of courses.

Mass Distributing Pocket Ledger Records After entering the details and clicking the Distribute Expense button, you will set your distribution criteria.

Mass Distributing Pocket Ledger Records When you click OK, the system will ask you to confirm the expense distribution and inform you of the amount applied per course.

Mass Distributing Pocket Ledger Records When you click Yes, the system distributes the amount.

Pocket Ledger Reports The Print Requisition button allows you to print a report for the specific Pocket Ledger record. Some of our standard Pocket Ledger reports: A Requisition Order A Cost Center Summary that lists all records for the specific Cost Center.

Pocket Ledger Reports Run reports for a series of cost centers from the Reports > Pocket Ledger menu. Expense Listings - details by Cost Centers, Expense Classes, Account Numbers, or Vendors. Income/Expense Balances: Details - expenses and income for cost center Summary - summary per cost center with income and expenses Snapshot - income and expenses for a time period.  

Sample Expense Listing by Expense Class

Sample Income/Expense Detail

Sample Income/Expense Balance Summary

Sample Snapshot

Enhanced Statistical Reports (will show NET income)

Why Pocket Ledger? Your Name Here Hero!

Questions

Managing Certificate Programs November 30, 2017 What's Next Software Updates November 8, 2017 Managing Certificate Programs November 30, 2017