Finance - MSXV

Owned by Yanshen Zhou
Last updated: Jul 15, 2022 by Amanda
2 min read

What is the Finance Team?

The Finance team is responsible for keeping track of the team's incoming and outgoing money. If you are familiar with accounting, we are simply keeping track of the team's cash inflows and cash outflows (if you don't know accounting don't worry about it). The team also provides vital information needed to make sure we are fulfilling our financial obligations. 

NOTE : You DO NOT need a background in accounting to join! We have some awesome senior members to help onboard and get you up to speed!

 

Why is the Finance Team important?

The importance of the Finance team is simple - if we do not pay for the money we spend, we are no longer allowed to be a student design team under the university. If we do not keep track of our spending and our income, it becomes extremely difficult to meet those obligations. This Finance team plays a vital role in Midnight Sun's operations. 


Who should join the Finance Team?

You should join the Finance team if:

  • You want to learn basic financial reporting

  • You are interested in a career in accounting

  • You want to learn basic bookkeeping skills

 

What does the day-to-day of the Finance Team look like? 

  • Data analysis and entry on Wave Accounting (an online accounting platform)

  • Managing our Purchase Information database

  • Submitting reimbursement forms

 

How often does the Finance Team meet?

Instead of weekly meetings, the Finance Team has task-based check-ins. The date and time for these meetings will be announced on Slack through DMs and/or the #finance-core channel.

Interested in learning more? Send a message to @Ashna Patelor @Amanda Foo on Slack!