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economics [2021/03/20 00:01] – loneall | economics [2021/07/22 16:53] – [Economics] ntnsndr | ||
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- | ===Financial Processes=== | + | |
- | //When updating the budgeting spreadsheets:// | + | These are some of the processes we use to maintain our internal picture of our financial situation. Typically, one MEDLab fellow is designated the budgeting point-person at any given time. |
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- | - Here you will find a workbook dedicated to tracking the expenses of every active MEDLab speedtype. | + | =====Updating Budget Spreadsheets===== |
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+ | Navigate to MEDLabExpenses spreadsheet in MEDLab Cloud, in the Budgeting folder. Here you will find a workbook dedicated to tracking the expenses of every active MEDLab speedtype. | ||
- | //To track expenses:// | ||
At the beginning of each semester, email cmcifinance@colorado.edu and request the following monthly reports: | At the beginning of each semester, email cmcifinance@colorado.edu and request the following monthly reports: | ||
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Items you will need to pull from the sheet to add along with the total of the charge: | Items you will need to pull from the sheet to add along with the total of the charge: | ||
- | * Journal ID #: Copy and pase from the " | + | * Journal ID #: Copy and paste from the " |
* Date: Take from " | * Date: Take from " | ||
* Description of transaction: | * Description of transaction: | ||
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Once you have updated the spreadsheet to include all transactions, | Once you have updated the spreadsheet to include all transactions, | ||
- | // | + | // |
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+ | =====Creating a New Budget Spreadsheet===== | ||
+ | For each fiscal year, you should plan on having a different MEDLabExpenses workbook. The last day of the fiscal year takes place on //June 30th// and is often referred to as Fiscal Year End (FYE). | ||
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+ | You should plan on using a new spreadsheet to track expenses starting from July 1st. | ||
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+ | To make a new expense tracking workbook: | ||
+ | *Navigate to the expense workbook from the previous fiscal year in MEDLab master. | ||
+ | *Click the three dots next to the file size > "Move or Copy" > " | ||
+ | *Change the name of the workbook to reflect the current/new fiscal year. | ||
+ | *Keep the different spreadsheets for the different speedtypes. Delete any inactive speedtypes and add any new speedtypes. | ||
+ | * The easiest way to make a new spreadsheet for a speedtype is to make a copy of an existing one: click the existing spreadsheet speedtype tab & hold down CTRL at the same time > "Move or copy sheet" > " | ||
+ | * Delete any transaction data from the previous fiscal year but retain the formulas on the spreadsheet. | ||
+ | * Select all the data you want to delete > Click delete button > Select " | ||
+ | * Make any update to the spreadsheet header. | ||
+ | * Repeat for other speedtypes as needed. | ||
+ | * Begin adding new expenses. | ||
+ | * //NOTE:// Enter the balance at the start of the fiscal year in the first column on each spreadsheet for each speedtype. | ||
+ | * You do not have to edit any of the other tabs aside from the speedtype sheets. The other sheets will automatically update based on information from the speedtype sheets. | ||
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+ | //For anything related to invoicing, please email CMCIFinance@colorado.edu with any questions. | ||
+ | The [[https:// |