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 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 Wise DURING and/or AFTER

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

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 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

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 databaseFirm

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

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

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

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

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

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

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

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

SnapShot Report

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.

Questions?

Join us November 4, :00 Central Conference Planning