TRACKING EXPENSES. All Programs/SPSP

Transcription

1 TRACKING EXPENSES All Programs/SPSP

2 Acknowledgment Statement 2 You understand and acknowledge that the training you are about to receive does not cover the entire scope of the program and that you are responsible for knowing and understanding all handbooks, manuals, alerts, notices and guidance, as well as any other forms of communication that provide further guidance, clarification or instruction on operating the program.

3 Housekeeping Please place cell phones on silent Write your questions down on an index card 3

4 Pens/Pencils Class Materials 4 Handouts Classification Folder?s Calculator Participant Guide

5 You should attend this class if 5 You want to get better at tracking your expenses but don t know how You can track your expenses just fine but nobody else can follow your expense records You have lost important financial records in the past You keep your receipts together, but not organized

6 What you will learn A simple method to track your expenses that prevents this 6

7 And this 7

8 And this too. 8

9 Frequent Findings In 2015 Inadequate Financial System 15% CEs with findings Expenses not reasonable, necessary or allowable 17% CEs with findings 9

10 The Foundation File your financial documents daily in such a way that they are easy to retrieve later. 10

11 Repeat after me Necessary, reasonable, allocable (allowable) and shows that you paid for it. 11

12 Terminology Purchase and Sales Order Delivery Receipt Sales Invoice Credits Checks Receipts Bank Statement 12

13 Tracking Expenses Examples Ordering Goods from a Seller or Vendor Purchasing Items from a Brick and Mortar Store 13

14 Tracking Expenses When Ordering Goods from a Seller or Vendor 14

15 Document Process Sales Order Sales Invoice Delivery Receipt 15

16 Happy Cow Milk Company Sales Order Delivery Receipt Sales Invoice Label by month and vendor name: July 2016 Happy Cow Milk Company July 2016 Happy Cow Milk Company 16

17 Happy Cow Milk Company Sales Order Delivery Receipt Compare July 2016 Happy Cow Milk Company 17

18 Happy Cow Milk Company Sales Order Sales Invoice Delivery Receipt Compare July 2016 Happy Cow Milk Company 18

19 Happy Cow Milk Company Sales Order Delivery Receipt Sales Invoice Keep corresponding sales invoices, sales orders and delivery receipts together in chronological order behind this page July 2016 Happy Cow Milk Company 19

20 Organizing Vendor Source Documents June 2016 Whole Happy Grocery July 2016 Whole Happy Grocery June 2016 Texas Bakery June 2016 Sunshine Produce July 2016 Texas Bakery July 2016 Sunshine Produce 20 June 2016 Happy Cow Milk Company July 2016 Happy Cow Milk Company

21 Showing that you paid for it The transaction date The amount The name of both businesses/people A unique payment number A description of the transaction 21

22 John Doe HUNGRY KIDS INC 1234 Texas Dr. Meals, TX /14 Happy Cow Milk Company Sixty-four dollars and 0/100 Feeding Kids Bank Feeding Kids Bank 1000 Meals Feeding Kids TX Milk cartons ENDORSE HERE Happy Com Milk Company ORIGINAL DOCUMENT Feeding Kid s Bank Meals, TX > < 06/14/2016 DO NOT WRITE, STAMP, OR SIGN BELOW THIS LINE RESERVED FOR FINANCIAL INSTITUTION USE SECURITY FEATURES Microprinting around border on face Laid lines on back The words ORIGINAL DOCUMENT on back 22 John Doe

23 Tracking Expenses When Purchasing Items from a Brick and Mortar Store 23

24 Piggly Wiggly Receipt 24

25 Piggy Wiggly Receipt Store Receipt SFSP Transaction Voucher May 2016 Store Receipts 25

26 Applying the Method Labor Equipment rental Tracking Expenses Transportation 26

27 Rolling It Up into Your Master Bookkeeping System 27

28 Detailed Bookkeeping System 28

29 My goal is 29

30 Acknowledgment Statement 30 You understand and acknowledge that the training you have completed does not cover the entire scope of the program and that you are responsible for knowing and understanding all handbooks, manuals, alerts, notices and guidance, as well as any other forms of communication that provide further guidance, clarification or instruction on operating the program.

31 In accordance with Federal civil rights law and U.S. Department of Agriculture (USDA) civil rights regulations and policies, the USDA, its Agencies, offices, and employees, and institutions participating in or administering USDA programs are prohibited from discriminating based on race, color, national origin, sex, disability, age, or reprisal or retaliation for prior civil rights activity in any program or activity conducted or funded by USDA. Persons with disabilities who require alternative means of communication for program information (e.g. Braille, large print, audiotape, American Sign Language, etc.), should contact the Agency (State or local) where they applied for benefits. Individuals who are deaf, hard of hearing or have speech disabilities may contact USDA through the Federal Relay Service at (800) Additionally, program information may be made available in languages other than English. To file a program complaint of discrimination, complete the USDA Program Discrimination Complaint Form, (AD-3027) found online at: and at any USDA office, or write a letter addressed to USDA and provide in the letter all of the information requested in the form. To request a copy of the complaint form, call (866) Submit your completed form or letter to USDA by: (1) mail: U.S. Department of Agriculture Office of the Assistant Secretary for Civil Rights 1400 Independence Avenue, SW Washington, D.C ; (2) fax: (202) ; or (3) program.intake@usda.gov. This institution is an equal opportunity provider. 31

32 Class preparation 32 Print handouts Assemble folders Provide calculators