Month End Expenses Part 2 162

This presentation we’re going to continue on with part two of recording our typical kind of month end type expenses like a telephone and utility type expenses Get ready, because here we go with aplos. Here we are in our not for profit organization dashboard, we’re going to be heading on over to Excel to see what our objective will be. So we’re going to be on over in Excel, we’re in the eighth tab. Last time, we made these first two ones green, because we did those ones. And now we’re going to continue to make the next one green, because that’s the next one we’re going to do, we’re going to be recording our expenses, this is going to be the utilities expense, I’m going to right click on that one, make it green.


So we’re going to be paying, we’re going to say Edison, that means cash is going down. Other side utilities expense, let’s go back on over to our aplos, we’re going to be going to the fund accounting, we’re going to go to the transactions, I think the easiest way to enter this is with the register for the check register. So we’re going to go into that check register, we got the check in up top date, let’s bring this on back to January January 31. We’re going to say the payee, we’re going to say Edison is going to be our utility companies. That’s our power company, Edison. So we’ll pick that up, not going to put a comment, probably good do so when you can, I’m going to say 91009100, I’m going to type that too.



As I said, No check number for this, because we’re going to say that we’re doing it electronically account, do we have a utilities account did they give us one, we don’t. So first month of operations, we’re just going to add them as we go. Going up top right clicking on this tab, duplicating it, I would typically have these two tabs open so that we can jump back and forth from the chart of accounts. As we enter the first month of operations, we got the fund accounting over here, and then we’re gonna go into the accounts drop down the good old account list, we’re going to be thinking about those accounts as we add them which accounts we want to add. So utilities, and now we’re talking electric,



I could put it into an electric expense, or try to group some of utilities, to me, typically utilities includes electric and gas. If you want to break those two out, you can if you wanted to include the telephone, for example, in utilities, you can, but I think at this point, the standard convention, to me at least would be utilities being electric and gas for most organizations. So that’s what I’m going to go with, I’m going to go the five, three, let’s say six, zero, so 53605360, we’re gonna make it the unrestricted category, I’m going to say utilities. And again, you might have just an urge to put expense by the by that you can, but it’s already in the expense category.



So either way, is fine. So then I’m going to say save 53600 then populates down here in accordance with the account numbers and by category, and then we’re going to go back to the first tab, we’re going to type that number in then because we just added it for that purpose 5360. There it is, utilities, unrestricted category, we’re not going to be adding any tags. That’s it. Let’s go ahead and submit it. So we’ll submit that one. Now we saw these two on the financials last time, I’m not going to go back into it until the end here. So the expenses went up, the other side is going to go to cash. Let’s check it out. Again, let’s go back on over and say that one’s done, we’ve highlighted it. Now let’s do the next one, which is supplies. Now I’m going to say this is going to Office Depot that we’re buying supplies from from.



So I’m going to say Office Depot supplies. So let’s go back on over and say we’ve got the date once again, 30th of January. And then the payee, I’m going to say Office Depot, and this is going to be new, or we have it here already. Office Depot, there’s a scene next to it for some reason, but I’m gonna pick that one up. And then we’re going to say the amount is 500. We might want to say what the supplies are, because this is this is kind of like a generic categories, we might want to list you know, general office supplies that we got there. And then we’re going to say that do we have a supplies account? Now this one, I think they gave us one that’s somewhat appropriate in our expenses, where we have, we have the printing and postage. And then they also have up here Didn’t we have another one? rent, building office supplies.



So that’s where I would put that one. So they’ve got that one set up for us. Just remember that office supplies is like I said, kind of a dumping ground sometimes for people. So it could become miscellaneous expense. In other words, they put all expenses to office supplies. So you know, you want to think about how much you want to go in there and which accounts you want to break out from there unrestricted, and then we’ll have the tax later. So let’s submit that one. And then let’s take a look at our reports now because I think the next one’s going to be a little bit different.



So let’s go to the second tab and open up our reports. From here right clicking on that tab duplicate In that tab, then we’re going to go to the reports on the right side, we’re going to be opening up our favorite two reports, that’s going to be the balance sheet, but by the fund fund balance sheet because it’s more fun, then we’re going to go back to the tab to the left, and right click on it, duplicate it again. And we’re going to be opening up our income statement by going to the reports, and then opening up the income statement, income statement by fund once again, going back to the balance sheet by fund, we’re going to change the date date, let’s bring it on back to January 30, January 31, January 31. And then we’ll say There we go. And then the checking account should be decreasing. So I’m going to go on over to the checking account.



Also, just remember that when you see this report, you might want to see the totals too. So you might want to always just kind of check this off. And you might want to save this we’ll talk about memorizing reports later. But you can say the drop down and say, Hey, I’d like to see the total columns and say Apply. And then you’ll get your total column over here for the total in the checking account. So it doesn’t look like negative, which can be kind of scary. And so then you’re going to go down and say that there’s the there’s the post office, and there is Edison. So that’s that. Let’s go on back to the to the balance sheet, then let’s go to the income statement. And let’s refresh the incomes or let’s date, we need dates.



And we’re going to bring this from this year to date, this year to date, once again, you might want to hit the little drop down and say hey, I’d like to see the totals would you show me the totals, please? And then say yes. And if you ask nicely, then sometimes they’ll apply it, and sometimes not. So I say totals totals and then apply. So let’s see that. There we go. All right. And then we’re gonna say down here that now we have the printing and postage and the utilities, both in the unrestricted category, we’re going to give more detail on the unrestricted category using tags. We’ll do that later. Now let’s go back to our Excel. last one’s going to be a little bit different. So now we’re going to say we have office supplies again. But now we didn’t pay for them yet, we’re going to say this one’s going to go to a payable. So this, in other words would be like a bill that we’re going to enter into the system.



Now, bills note can be useful for some different reasons, you might want to enter these information in as a bill basically, and then sort your bills, pick which bills you want to print, and then print them. And if you’re printing the checks from the system, that can be kind of a useful way to sort that information. But the basic idea of the bill then is we’re going to be entering this using a different form, and it will be increasing the liability account accounts payable that we have not yet paid the other side going to the expense, in this case, the supplies expense, then we can attract those payables that we owe, which and then pay them at another time. So that’s going to be increasing then the accounts payable, so accounts payable is going to be increasing the other side going to the expense.



All right. So I’ll make that one green, because that’s the one we’re on even though it’s on the bottom, because all the other ones were green, and that’ll mess me up. If I don’t make this one green. Because it’s the last green one, we’re working on the last green one. All right, then we’re going to go back on over we’re going to go to the first tab, then we’re going to go to the fund accounting. Again, we’re looking at those transactions, we want an accounts payable transaction. So the accounts payables going up accounts payable type transaction, this is basically kind of like a bill transaction if you’re used to something like QuickBooks, so then we’re going to say the vendor is going to be Office Depot again. So I’m going to say Office Depot memo, I’m not going to put one reference number I’m not going to put one date, I’m going to say is January 30, January 30 terms now if we set the terms, it’ll set the due date.



So whatever the due date on, you know, the bill is you could put the due date manually over here, or you could set the term, which will populate the due date automatically. And then I’m going to save the amount I believe was 500. Again, was it it was no 4500 thing I checked that time 4500 remaining balance 4500. Okay, and then we’ll be the office expenses. So that’s going to be the 5300 office expenses, and then it’s going to go to the fund of the unrestricted fund. So that’s going to be the fund, we’re not going to then have the tags here. Now the percent you can either put the percent or the amount that’s going to be applied here, I’m just going to put 100% and then and then say tab, and it’ll populate the total bringing that total 4500 down to here. If we were to add other categories as we will do in the future.



This percentage breakout great tool will help us to break out as we break out Between the tags for the unrestricted categories 2020 2040 breakout, as we’ll see, we’ll do that later. Let’s go ahead and submit this. Once we do, however, just note what’s going to happen, accounts payable should be going up, the other side should be going to that expense account. So let’s say submit, and see if it if it gives me any kind of read things, and I messed up or anything like that it wants a memo, there’s a red thing. So we’re going to say this is for postage, let’s just say on or let’s say office supplies, office supplies, and then let’s submit it again. See if I get any other more read things that say I messed up somehow, nope, that looks good. And now if you move back down to the bottom, you’ll get kind of a summary of your activity down here. I’m going to go back to our reports. Now go back up to our reports balance sheet, let’s refresh the balance sheet with a little refresh button and see what we have here.



Then I’m going to go back down, we want to look at our liabilities, there’s our accounts payable, there’s the 4500. In it, that’s what we would expect to see because we just have the bill and there’s the bill. Note, anytime you see bill, that means it’s a bill to us. And just remember that when you see these transaction types, you want to get an idea in your mind what the transaction types mean, it’s really useful, what’s going to be the transaction, one of the accounts that are affected. Also note that a build means that it’s a bill that someone paid to us, you know, the bill that we’re sending to somebody else for work that we did, in theory, if we’re for profit, you know, it would be an invoice. So the bills are the things that we have to pay, the invoices of outgoing things are usually the things that we are charging for for work that we did.



So an invoice to someone else would be a bill to us, right? If they send out an invoice to us, it’s still a bill. Okay, so then if we then go to the income statement, check out the income statement. And we want to refresh that screen, we should see then down at the bottom that we have now another expense or an increase to the expense that we had already created for the supplies office supplies is now at that 5000 to 5000 consisting of these two items, there’s the 4500, we just set up. Let’s go on back over to the income statement back to the previous tab. I want to open up another report here now. So I’m going to go and open up another report by going to the reports all the way to the right. And then we want to we want a supporting report for the payables that we owe. So if I go back down to the bottom of these reports to the other reports, we can have an aged payable, so similar to our aged receivable.



So we’ve just entered a payable. So now we’ve got Okay, here’s our payable information. And so this gives us our HPI report report. If I bring this back to January, January, there we have it. So these are people we owe this one, this one is still in the current category, as opposed to one to 30 days and 30 to 60, and so on and so forth. Let’s go back to the first tab. Now, obviously, this number here 4500. On this report note should also tie out to if I go back to the balance sheet, the number here on the accounts payable. So typical question would be how much money? Do we owe other people at this point in time? balance sheet 4500? Who do we owe? Who do we have to write a check to and how outstanding are these debts, we go into the supporting report for that number? Here 4500 is all we owe to one vendor that being Office Depot.



Okay, let’s go back to the to the first half again. And then if we go into the people just we can also see within the people section if we go to the contact list and say that we have the Office Depot. Down here, you could see the activity for four you could see our customers and vendors here so you could see our items, ah payable. So there’s our h table for the office details. That’s another another way you can get basically information. You can also just note that we’re building our contact list as we’re going our people list which includes customers and vendors. Also note that I am going to be printing the trial balance as we go.



And let me just take a look at trial balance. And so you’ll have these reports for you that will at least give you the account totals and won’t break out on the fund information but they’ll give you the the account totals so you can check your total numbers as you go through these practice problems. You could find the trial balance by going down to the to the bottom of these reports and it’s all the way at the bottom reports you likely won’t use but we’ll build them anyways the trial balance okay. I like the trial balance I don’t know.



So this is going to be the trial balance by debits and credits and it’s useful because you can Have all the accounts basically on one report including the balance sheet accounts and the income statement accounts. So you can check basically all of your numbers with this one report. So I think it’s a good review report. We will be printing this after many of the presentation so you kind of check your numbers there. If you’re working along with practice problem as you go. That’s gonna be it for now. Let’s get out of here.


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