Teacher Created Materials
August 10, 2015
My last week with Teacher Created Materials comes to an end with the closing of June month-end, which means that next Monday the Accounting department will be busy again with July month-end. I finally filed the trickiest Sales Tax for California. First, since TCM is located in California, our California sales is likely to be highest. Second, California is so large and divided into a lot of counties and cities with different Sales Tax rates. Third, preparing sales taxable and non-taxable is different, since sales to schools in California are taxable. After sorting all of that out, I managed to file it with Jared’s help, and thus we’re done for this month/quarter/semi-annual Sales Tax filing.
I also helped keeping track with the orders among the company as usual. However, since these are my final times doing this, I created a “How-To” to prepare the file so anyone who receives the file later can understand the process. Creating an instruction manual is harder than I thought: it’s difficult to succinctly write down everything I do and think about while looking at the reports. I created one to the best of my ability, hoping it would be helpful in the future.
I finished my last week by cutting a lot of checks with Jared on Friday, since it’s the quarterly royalty payday. The Royalty checks must be 60% of all the checks!
Overall, I really enjoy the fellowship with Teacher Created Materials! I have learned a lot about the Accounting Cycle: how Accounts Payable departments work, what jobs the Accounts Receivable department does, and how the numbers will be useful for the General Ledger reports and entries. Everything is related to each other and necessary to keep records, make entries, and keep things honest. I also learned a lot in Excel, and I’m still on my way to discovering so many wonderful skills in order to be more efficient working with spreadsheets and big data. I’m sincerely thankful for this wonderful opportunity to work with Teacher Created Materials, which allowed me to learn and experience even more than what I have learned in my classes and build on those principles.
Tom is an Economics & Business major from Hanoi, Vietnam.