Topic: BudgetThis module of eLEADER is designed as an overview of budgeting concepts. Detailed information about transacting reimbursements, check requests, transfers and deposits are available at the following links: Club Transaction Procedures - CSO Transaction Procedures
Each budget will have two main sections, and a good manager will come to know each of these sections intimately. The first section measures revenue, or income from sales or other sources. You need to match up your expected revenues with your expected expenses - the second section of the budget. Say you work for a boat manufacturer. Your company itemizes revenue from the sales of speedboats. On the expense side, it then has to make sure the costs involved in building this boat will be less than the revenues it will generate. You don't want to build a speedboat that costs more than people pay for them. The revenue section of the budget measures income projections - what the organization thinks it is going to earn through all its sources throughout the cycle of the budget - so that it may balance expenses against them. Expenses may be higher than revenues in certain months or for certain projects, but the goal is always to make sure revenues exceed expenses by the end of the year. When it comes to the second section, the expense side of your budget, the more detailed the description the better. Your organization's budget is built from a template. Check out the Account Description sheet in your budget and see if it is detailed enough for you. For example, if you want to expense t-shirts out of account 6504, you should indicate that on your Account Description sheet.
PeopleSoft Accounting Structure/Accouning StringThe PeopleSoft Accounting Structure/Accounting String is the basic component to the University's accounting system. For the purpose of student organizations, the University has instituted a chartfield that consists of six blocks of information:
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