consultant accruals in deltek vision | deltek vision user group meeting | q2 2014
DESCRIPTION
This presentation was the topic of the Houston, San Antonio, Denver and Honolulu Deltek Vision User Group Meetings held throughout June 2014. For more information about Deltek Vision for your project-based AE or consulting firm, Vision training or consulting, or joining one of our User Group Meetings visit http://www.bcsprosoft.com/deltek-vision.TRANSCRIPT
Deltek Vision User Group Meeting — June 2014
San Antonio, TXHouston, TXHonolulu, HI
(800) 882-6705www.bcsprosoft.com/deltek-vision
Deltek Vision Solution Providers & Consultants
IntroductionThanks for your interest Deltek Vision.
The following slides were presented by Vision Consultant, Nedra Roberson at our user groups in San Antonio, Houston, and Honolulu. If you’d like to attend one of our user groups you can attend for free by signing up on www.bcsprosoft.com/deltek-vision.
If you have any questions about the material presented or are interested in training or consulting, please contact BCS Prosoft.
Introduction
Nedra RobersonVision Consultant at BCS Prosoft
Agenda Lunch and Introductions Consultant Accruals Consultant Ledger and Vouchers by Project User Defined Options to Track Consultant Accruals Deltek Vision Tips & Tricks
Consultant AccrualsSome things you probably didn’t know about them.
Consultant Accruals• Calculate accrual amounts based on budget, estimate to completion (ETC) or
estimate at completion (EAC) amounts.• Post accruals as they are generated.• Suppress billing.• Update percent completes; you can drill down to compensation and billed
detail.• Send reports to process server before printing.• Save report settings.• Select single accounts, by account range, or by project.
Consultant AccrualsBefore running Consultant Accruals, you must establish a budget:
Accounting > Budgeting > Project Budgeting
Consultant Accruals
Consultant Accruals Toolbar
• Update %: Click this button to display the Update Percent Completes dialog box, on which you review budget versus spent amounts, and then update the overall percentage completes and/or compensation/fee amounts.
• Run: Click this button to produce accrual journal entries.• Schedule: Click this button to send your selected reports to the process server to be printed.
When a job is submitted, Vision places it in the selected process queue in the order that it was received. The process is then run based on the options specified on the Schedule dialog box.
Consultant Accruals Form
Consultant Accruals
• Saved Options: As with other Vision reports, you can load previously saved reporting selections in the Saved Options field. • Organize Button: Click this button to display the Organize Options dialog box, on which you can save options and specify
access by security role.• Default Button: Click this button to restore default settings. • Select Specific Projects: Enter a project number in this field to choose a specific project for which to accrue expenses or
click and use the Project Lookup to select a project. If you do not choose a specific project, then the All Projects default is implemented. If you use the Multi-company feature, the list of available projects is limited to those belonging to the active company.
Consultant Accruals
• All Accounts: Select this option to include all the accounts from your Chart of Accounts list. After you select this option, you can use Account Range fields to specify a filter.
• Account Selection: Select this option to choose a specific account. After you click this option, enter the account number in the corresponding field.
• Account Wildcards: Use this option if you want to enter wildcard characters and then enter the characters in the corresponding unlabeled field. Accounts included in the process will match your wildcard pattern.
Consultant Accruals• Account Range: Use the check
boxes in this section to select the accounts that you want processed. The accounts are Direct Consultants, Reimbursable Consultants, Direct Expenses, Reimbursable Expenses, and Indirect Expenses.
Consultant Accruals• Suppress Billing: Select this check box to suppress
the billing for each transaction. • Replace existing unposted consultant accrual
journal entry of the same file name: The process cannot run if there is an existing unposted journal entry file with the same file name and this option has not been selected.
• Post consultant accruals as they are generated: the journal entry will be posted automatically when the process has run.
• Journal Entry File Name: While the name can be modified, the file must always begin with ConAcc as the first six characters.
Consultant Accruals
From the drop-down list, select one of the predefined options to specify how your project accounts are going to be accrued. This is the basis for your calculations. • Options are:
– Budget minus (Percent Complete * Budget) minus Job to Date Spent – ETC (Estimate to Complete) minus (Percent Complete * Estimate to Complete) minus Job to Date Spent – EAC (Estimate at Completion) minus (Percent Complete * Estimate at Completion) minus Job to Date
Spent • Budget Source: If you use Planning, you can select Budget Worksheet or Project Planning as the budget
source. If you select Project Planning, select an option from the Basis for Planning Calculations field.
Consultant AccrualsIf you select Project Planning in the Budget Source field, select a date in this section. Options are: • Today's Date • Period End Date • Specific Date
Consultant Accruals FormSelect the date to use for currency exchanges. Options are: • Today's Date • Period End Date • Specific Date
Note: These options display on the Consultant Accruals form only if you use the Multicurrency feature.
Consultant Accruals
Click on Update % on the top toolbar.
Consultant Accruals
In the dialog box, enter the ExpenseComplete percentage. Then, click Run.
Consultant AccrualsForm selections to process Direct Consultants at 10% complete.
Journal Entry Posting Log
Consultant AccrualsForm selections to process Reimbursable Consultants at 10% complete.
Journal Entry Posting Log
Consultant Accruals
Review the Project Budget Worksheetto see the new JTD Spent amount.
Project Review, Direct Consultant
Project Review, Reimburse Consultant
Suppress Billing Option
Interactive Billing
If you do not check the suppress bill box, the 10% will flow through to billing (for the reimbursable consultants).
Interactive Billing Invoice Review
Other Options for Accruals
Vision has two reports that can be used to monitor Consultant Accruals. Both reports are under Project Reporting.
Agenda Lunch and Introductions Consultant Accruals Consultant Ledger and Vouchers by Project User Defined Options to Track Consultant Accruals Deltek Vision Tips & Tricks
Consultant Ledger,Voucher Detail View
Consultant Ledger,Vendor Summary Selection
Consultant Ledger,Vendor Summary View
Vouchers by Project
Vouchers by ProjectVendor Summary Selection
Vouchers by ProjectVendor Summary View
AP Payment Processing for Consultants
The 10% accrual is NOT reflected in AP Payment Processing. This must be entered manually.
AP Payment Processing
Checks were cut to both consultants for 10% of their total vouchers.
Vendor Review by Consultant
Another Look at theBudget Worksheet
The JTD numbers did not change after payments were posted to consultants. The same is true in the Project Review.
A Second Look at theVouchers by Project Report
Using the Office Earnings Report
Run the Office Earnings Report at Cost.
Office Earnings ReportGeneral Tab Options
Office Earnings ReportColumn Selection
Calculated Fields
Calculated Fields
Agenda Lunch and Introductions Consultant Accruals Consultant Ledger and Vouchers by Project User Defined Options to Track Consultant Accruals Deltek Vision Tips & Tricks
Tracking Consultant AccrualsBy Leveraging User Defined Options
Create a New Tabor Project Info Center
In the Project Info CenterEnter Data on the New Tab
Select the New Grid on the General Tab of Report Options
Project Report Using the New Grid
Custom Tab with Fields
Calculated Fields Created in Configuration
Project ReportUsing the New Fields
Agenda Lunch and Introductions Consultant Accruals Consultant Ledger and Vouchers by Project User Defined Options to Track Consultant Accruals Deltek Vision Tips & Tricks
Tips & TricksDeltek Vision Tips & Tricks
Deltek Vision Tips & Tricks
The Cash Flow Report Requires a Budget to be entered before forecasting data will
display.
Reporting > Accounting > Cash Flow Report
Another Budget Related Report
Deltek Vision Tips & Tricks
Use the Profit Planning Monitor to monitor performance against budgets. For each revenue and expense account, the report displays the budgeted and actual amounts for the current period and year to date. It also shows totals for actual and budgeted revenue and expense, and calculates actual and budgeted profit or loss.
Deltek Vision Tips & Tricks
The Profit Planning Monitor Report is found under the General Ledger Reports. General Ledger Budgets can be set up under:
Accounting > Budgets > General Ledger
Deltek Vision Tips & Tricks
The Office Earnings Report offers two columns, Budgeted Amount and Budgeted Hours,
that can be used with Navigator Plans.
On the Budget tab, select Budget Source: Project Planning
Reporting > Project > Office Earnings Report
Deltek Vision Tips & Tricks
To include user defined numeric fields in report totals, check the “Include in Report Totals” box.
Configuration > General > User Defined Components
Deltek Vision Tips & Tricks
Vision Navigator will only show Labor at Billing. While role security is supported throughout Navigator, as an extra safety precaution, JTD Labor Amounts are only
shown at Billing Rates.
Agenda Lunch and Introductions Consultant Accruals Consultant Ledger and Vouchers by Project User Defined Options to Track Consultant Accruals Deltek Vision Tips & Tricks
Prepare for Deltek Vision 7.3!
The next version of Deltek Vision, 7.3, is targeted to be released in June, 2014 and will include many great new benefits including:• Managing company paid credit cards • Expanded internationalization and localization features • Harvesting information from Linked In • Improved compensation break out • And more
Start Preparing Now! Because of Microsoft’s de-support of Windows XP in April 2014, Deltek can no longer support the Windows XP client operating system beginning with Vision 7.3 and extending to future releases.
The following client operating systems will be supported for Vision 7.3:• Windows 8 or 8.1 • Windows 7 • Windows VistaAdditionally, to use this new version you must ensure that .NET Framework 4.5.1 is installed on any workstation that runs Vision.
Deltek will also be de-supporting Microsoft SQL Server 2008 with the release of Vision 7.3 for both the Database and Reporting servers.
SIGN UP FOR YOUR LOCAL USER GROUPSAN ANTONIO, TX; HOUSTON, TX; HONOLULU, HI
SEPTEMBER, 2014
Click here to learn more:http://bit.ly/dvugm
Who We Are• 27+ years experience with accounting Software and ERP for
distributors, manufacturers, equipment & event rental companies, architects & engineers, and professional services firms.
• 1,500+ clients in all 50 states, Canada and Mexico.• Regional offices in San Antonio, TX; Houston, TX; Denver, CO; and
Honolulu, HI.• Award-winning partners with Sage Software, Deltek, and NetSuite.
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