How to financials

Categorizing Checking

• Log into quickbooks at [1]
• In the upper right hand corner, there are 4 accounts: Savings, Checking, PayPal, and PEX. Select Checking
• select Recognized, and sort by date.
• Step through the records:

For Regular Transaction

• Find the Appropriate vendor (Home Depot, Amazon, AirGas, etc)
• Find the appropriate category - STandard accounting expense (
• Find the appropriate department - Usually the budget to charge the expense against. (Area, G&A for Board/administrative, or votes)
• Memo: If the transaction has caveats, an RT ticket, or a wiki vote, add a link.

When Done, press Add.

Resolving Difficult Transactions

For a Lot of categorization, the correct course of action is unclear. If you copy the "Description" field from the transaction, click the "In Quickbooks tab", you can probably find where that type of transaction has occurred before.

For Transfers

• Pex, Paypal, Savings

• Select the "Transfer" radio button
• Select the Appropriate Account to transfer From/To
  • Paypal
  • Pex
• Press the "Transfer" button

Categorizing Pex

PEX cards are given to area hosts to spend from allocated budgets.

Importing Pex Transaction

• Log in to https://admin.pexcard.com
• Go to Reports >> Export to QuickBooks™
• Verify that the month you want to import has not already been imported. Reimporting transaction data makes a quick mess in quickbooks.
• Export a single entire completed month only.

• Log into quickbooks at [2]
• In the upper right hand corner, there are 4 accounts: Savings, Checking, PayPal, and PEX. Select Pex
• There will be an Update Box with a Dropdown Arrow next to it. Click the Arrow.
• Select File Upload
• Upload the QBO file you downloaded from the pex site.

Resolving

Find the receipt in RT for each transaction.

many of the area hosts have provided helpful spreadsheets for tracking this information down.

General Area

• General Area Spreadsheet

WoodShop

• RT:triano

Kitchen

• RT:ad9581

Tool Cage

• RT:sevin
• RT:sevin

Hot Metals

• RT:amishhammer

Electronics

• RT:aces74

Cold Metals

• RT:dba

Category

• Bank Charges
  • Paypal fees, chase fees.
• Disposal fees
  • Trash pickup.
• Freight & Delivery
• Insurance
• Legal & Professional Fees
  • Lawyers, accountants, etc.
• Meals and Entertainment
  • Food for events, party supplies.
• Office Expenses
  • Things that would be used to maintain an office building. Examples: cleaning supplies, toner, paper, toilet paper.
  • Also, software licenses.
• Promotional
  • Banners, stickers, t-shirts, mugs, hats, buttons. Kitschy crap with our logo on it.
• Regs, licenses, and fees
  • Government fees and business licenses.
• Rent or lease
• Repair and Maintenance - The costs incurred to bring an asset back to an earlier condition or to keep the asset operating at its present condition (as opposed to improving the asset). Fixing non-consumable things in the machine. These things are less frequently replaced.
  • Example: cleaning fluid, belts.
• Supplies - Things consumed by the process of using or running the machine. Will not improve or maintain condition.
  • These are going to be things that are directly worn down in its normal use. Example: grinding wheels, bandsaw blades, end mills, and lathe tooling.
• Tools - Tools or permanent improvement to tools or area.
  • These include things like shelving.
• Utilities
  • Electricity
  • Gas
  • Internet

How we are categorizing specific things

• Software licenses
  • Going to categorize these as office expenses. The "Regs, licenses, and fees" account will be used for government dealings.
• Maid Service
  • We are currently categorizing this as an office expense.
• Checks
  • Office expenses.