Financial Management: Difference between revisions

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=Invoices=
[[OSE Invoice Template]] - [https://docs.google.com/a/opensourceecology.org/document/d/1JHezVWYbJApIv_i70ud8gVWzOlRlnCFYDm88zs7a5Ks/edit]
=Book Keeping and Accounting=
*OSE is currently using the services of Maysville Tax Service
:*Shirley Marshall, 816.449.5344. Maysville Accounting and Tax Service, 250 E Hwy 6, Maysville, MO - or just PO Box 523. OSE's bank statements and notices are mailed to her at PO Box 523, Maysville, MO 64469.
:*maysvilletax at hotmail dot com.
=Receipts=
'''How to file receipts'''
#Staple receipt to standard piece of paper
#Record the receipt's category on the receipt or attached paper - if the transaction falls under a specific ''R&D, Documentation'' project then record the project as a ''Tag''
#File in HabLab office's filing cabinet
#Example:
##R&D, Documentation
###Materials, Parts, and Supplies
####Tag: Microhouse
=Maintaining Quicken=
=Maintaining Quicken=
#Open '''Quicken''', located on computer OSE01’s desktop
 
'''IMPORTANT''' - OSE's Bank of America statements and notices are mailed to Maysville Tax Service (PO Box 523, Maysville, MO 64469), '''should Shirley no longer maintain OSE's Quicken, then this needs to be changed''' - contact BofA to make this administrative change
 
Tools:
#Bank of America statements
#Receipts
#Quicken Access
 
#Open '''Quicken''', located on computer OSE01’s desktop, to import all transactions automatically from OSE's bank account
#Click One Step Update, located under (not in) Tools
#Click One Step Update, located under (not in) Tools
#BofA password
#Type in bank password, then click '''All Transactions'''
#Click '''All Transactions'''
#Sort transactions by date and scroll to most the recent transactions
#Sort transactions by date and scroll to most the recent transactions
#Using Week X - OSE CashFlow - Specification, verify that each transaction is labeled with the correct category.  
#Using Week X - OSE CashFlow - Specification, verify that each transaction is labeled with the correct category.  
##If a transaction supports a specific project, input the project in Tag. Specific projects to date:  
##If a transaction supports a specific project, input the project in Tag. Specific project '''TAG'''s to date:  
###November Prototyping
###November Prototyping
###Microhouse
###Microhouse
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#When verifying a check, access log into BofA to access transactions and see the check OR use the check binder located in the HabLab filing cabinet
#When verifying a check, access log into BofA to access transactions and see the check OR use the check binder located in the HabLab filing cabinet


For questions, call Shirley 816 449 5573
OSE Accountant (Independent Contractor) - Shirley Marshall with Maysville Tax Service 816.449.5344


=Maintaining Operating Budget=
=Maintaining Operating Budget=
Line 29: Line 55:
#Input future expenses in GREEN to determine spending runway
#Input future expenses in GREEN to determine spending runway


=Aaron Makaruck’s 2012 files=
=Payroll and Contracts=
 
==Active==
 
Rob Kirk - [https://docs.google.com/a/opensourceecology.org/spreadsheet/ccc?key=0AlCf1fl002zpdEJHT2FwUlZnX0ktRmhzTDRIaHdRMnc#gid=1 Rob Kirk Payment Tracker and Information] & [https://docs.google.com/a/opensourceecology.org/file/d/1DIZkYP_uPHBiCSYoRJw18rS2DT3tBnr6tYvMtTDDCd_ZhLE9h7esH3QGoYCz/edit contract]
 
Chris Reinhart - [https://docs.google.com/a/opensourceecology.org/spreadsheet/ccc?key=0AlCf1fl002zpdEJUTFI3SjVvQnpMT2c3OEhfTC1Gd0E#gid=0 Chris Reinhart Payment Tracker and Information] & [https://docs.google.com/a/opensourceecology.org/document/d/1ib8b8iGvSxw_M4HACo9t8fiLJ0NSDZUDtmuZb0oCSHU/edit contract]
 
Shirley Marshall - [https://docs.google.com/a/opensourceecology.org/document/d/1kg15UQKOVBjtuUBiOa4rlskugEKH1Lxp1UXfjHSlCfg/edit#heading=h.rzg0yway6pyt Contract]
 
==Archive==
 
[https://docs.google.com/a/opensourceecology.org/spreadsheet/ccc?key=0AlCf1fl002zpdG83N2JpeGZTbE5wQXk4TDJLYUl4UFE#gid=1 James Slade Payment Tracker and Information for 2013]
 
=Taxes=
Due May typically.
 
2012 Tax History
 
*Two extension requests were submitted for OSE's 2012 taxes, therefore OSE's 2012 taxes were due on November 15, 2012
*Taxes mailed on November 12, 2012, see receipt to verify (filed in HabLab filing cabinet in ''November 2013'')
*See ''Taxes'' folder in HabLab filing cabinet for hard copy OSE's 2012 990-EZ and supporting documents used to complete the submission
**Shirley Marshall, Maysville Tax Service, completed the 990-EZ (approximately 22 hours)- Location: 250 E Highway 6, Maysville, MO 64469, Phone: (816) 449-5344
 
See [[Financial Management]] for 2012 Accounting Archive
 
=Nonprofit Status=
*[[501c3_Application]]
 
=2012 Accounting Archive=
 
[https://drive.google.com/folderview?id=0Bz7WbjRT9mlmQzFzVmo2M29XLW8&usp=sharing Open Source Ecology - Accounting Archive]
 
=Bill Payment=
 
*Auto pay = check sent out via Bofa as determined. Like web pay except automatic. All free.
*Cards - Katie, Marcin, $1000, $150 card
 
==As Needed==
 
*Labormax - Nicole Koedatich - Payments occur automatically after OSE signs the weekly '''work ticket''' - Corporate Office PO Box 900 Kearney, MO 64060 816-903-5555, nicole.koedatich@labormaxstaffing.com . Routing #.
*''Pay to account'' set up in BofA:
**Sweiger Shop, Inc
**Mark Applegarth
**Bradley Morris
**Chad Krejci - Cloverdale Manufacturing
**Christopher Reinhart
**Rob Kirk
**R&W Container
 
==Monthly==


*Automatic payment to PSWD water bill. Bank account 5785 - bank account.
*Automatic payment to R&W Container. Bank account 5785.
*Automatic payment to CenturyLink. Bank account 5785.
*Automatic payment to Ameren. Bank account 5785.
*Automatic payment to Rob Kirk. Bank account 5785.
*Automatic payment to Chris Reinhart. Bank account 5785.


*Automatic payment to Hetzner. Debit card ending in 2595 - Katie's Card.
*Automatic payment to Latakoo. Debit card ending in 2595.


<html><iframe src="https://docs.google.com/document/d/1pB6LrtOJIKgbPxnZFy2wchfxKFdEHoL3y-380bUfw3A/pub?embedded=true" frameborder="0" width="100%" height="200" allowfullscreen="true" mozallowfullscreen="true" webkitallowfullscreen="true"></iframe></html>
==Yearly==


[https://docs.google.com/a/opensourceecology.org/document/d/1pB6LrtOJIKgbPxnZFy2wchfxKFdEHoL3y-380bUfw3A/edit Financial Management Turnover]
*June 4, 2014 - [https://docs.google.com/a/opensourceecology.org/file/d/0B6fjnh3lOWcCME1CaVFZNkJyU1E/edit Progressive Truck Insurance] expires, call progressive to re-new insurance policy
*October 6, 2014 - Trovebox subscription expires, manually re-subscribe

Latest revision as of 20:46, 28 January 2014

Invoices

OSE Invoice Template - [1]

Book Keeping and Accounting

  • OSE is currently using the services of Maysville Tax Service
  • Shirley Marshall, 816.449.5344. Maysville Accounting and Tax Service, 250 E Hwy 6, Maysville, MO - or just PO Box 523. OSE's bank statements and notices are mailed to her at PO Box 523, Maysville, MO 64469.
  • maysvilletax at hotmail dot com.

Receipts

How to file receipts

  1. Staple receipt to standard piece of paper
  2. Record the receipt's category on the receipt or attached paper - if the transaction falls under a specific R&D, Documentation project then record the project as a Tag
  3. File in HabLab office's filing cabinet
  4. Example:
    1. R&D, Documentation
      1. Materials, Parts, and Supplies
        1. Tag: Microhouse

Maintaining Quicken

IMPORTANT - OSE's Bank of America statements and notices are mailed to Maysville Tax Service (PO Box 523, Maysville, MO 64469), should Shirley no longer maintain OSE's Quicken, then this needs to be changed - contact BofA to make this administrative change

Tools:

  1. Bank of America statements
  2. Receipts
  3. Quicken Access
  1. Open Quicken, located on computer OSE01’s desktop, to import all transactions automatically from OSE's bank account
  2. Click One Step Update, located under (not in) Tools
  3. Type in bank password, then click All Transactions
  4. Sort transactions by date and scroll to most the recent transactions
  5. Using Week X - OSE CashFlow - Specification, verify that each transaction is labeled with the correct category.
    1. If a transaction supports a specific project, input the project in Tag. Specific project TAGs to date:
      1. November Prototyping
      2. Microhouse
      3. Microcombine
      4. Lifetrac 6
      5. Lifetrac 5
      6. Lasercutter
      7. CEB
      8. 6 in 60
      9. 3D Printer
      10. Solar
      11. Trencher
    2. If a transaction covers two categories, click on the diverting arrows, located on the transaction’s line, to split the transaction
  6. Record additional information in Memo as needed
  7. When verifying a check, access log into BofA to access transactions and see the check OR use the check binder located in the HabLab filing cabinet

OSE Accountant (Independent Contractor) - Shirley Marshall with Maysville Tax Service 816.449.5344

Maintaining Operating Budget

  1. Input Bank of America Transactions into Operating Budget
  2. Insert Note including payee, for, and amount
  3. Input future expenses in GREEN to determine spending runway

Payroll and Contracts

Active

Rob Kirk - Rob Kirk Payment Tracker and Information & contract

Chris Reinhart - Chris Reinhart Payment Tracker and Information & contract

Shirley Marshall - Contract

Archive

James Slade Payment Tracker and Information for 2013

Taxes

Due May typically.

2012 Tax History

  • Two extension requests were submitted for OSE's 2012 taxes, therefore OSE's 2012 taxes were due on November 15, 2012
  • Taxes mailed on November 12, 2012, see receipt to verify (filed in HabLab filing cabinet in November 2013)
  • See Taxes folder in HabLab filing cabinet for hard copy OSE's 2012 990-EZ and supporting documents used to complete the submission
    • Shirley Marshall, Maysville Tax Service, completed the 990-EZ (approximately 22 hours)- Location: 250 E Highway 6, Maysville, MO 64469, Phone: (816) 449-5344

See Financial Management for 2012 Accounting Archive

Nonprofit Status

2012 Accounting Archive

Open Source Ecology - Accounting Archive

Bill Payment

  • Auto pay = check sent out via Bofa as determined. Like web pay except automatic. All free.
  • Cards - Katie, Marcin, $1000, $150 card

As Needed

  • Labormax - Nicole Koedatich - Payments occur automatically after OSE signs the weekly work ticket - Corporate Office PO Box 900 Kearney, MO 64060 816-903-5555, nicole.koedatich@labormaxstaffing.com . Routing #.
  • Pay to account set up in BofA:
    • Sweiger Shop, Inc
    • Mark Applegarth
    • Bradley Morris
    • Chad Krejci - Cloverdale Manufacturing
    • Christopher Reinhart
    • Rob Kirk
    • R&W Container

Monthly

  • Automatic payment to PSWD water bill. Bank account 5785 - bank account.
  • Automatic payment to R&W Container. Bank account 5785.
  • Automatic payment to CenturyLink. Bank account 5785.
  • Automatic payment to Ameren. Bank account 5785.
  • Automatic payment to Rob Kirk. Bank account 5785.
  • Automatic payment to Chris Reinhart. Bank account 5785.
  • Automatic payment to Hetzner. Debit card ending in 2595 - Katie's Card.
  • Automatic payment to Latakoo. Debit card ending in 2595.

Yearly

  • June 4, 2014 - Progressive Truck Insurance expires, call progressive to re-new insurance policy
  • October 6, 2014 - Trovebox subscription expires, manually re-subscribe
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