deltek insight 2010: the future of vision accounting
TRANSCRIPT
History of Project “Europa”
• Follow-up release to the technology and internationally focused Vision 6
• Mainly core product, usability enhancements
• Feature Scoping Process– Conducted individual client and prospect interviews
– Surveyed user groups and conference sessions
– Collected feedback from Deltek Consulting, Partners, and Sales
– Performed analysis of industry trends and competing products
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Enhancement Overview
•Contract Management
•Credit memo support
•Employee realization reporting
•Fee revenue allocation
Financial and Project
Automation
•Emailing EFT Remittances
•Pay multiple currencies out of a single bank
•Intercompany Billing rate calculations
Deeper Localization
•Expanded timesheet comments
•Status on organizations
•Check review screen
•Auto-reversing journal entries
Usability
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Contract Management
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•Create simple queries and reports to find outstanding contracts by age
•Alert PMs when contracts are issued or signed
Contract and Change Order Status Tracking
•Assign employees and percentages to contract values
•Create simple queries and reports to view employee sales contributions over time
Employee Contract Credit Tracking
•Spread contract values to all WBS from a single screen
•Assign contract values immediately, or wait until contract is signed and finalized
Easy Distribution of Contract to WBS
Structure
•Sync contract values to Project Compensation fields
•Prevent plan compensation from exceeding Contract Management values
Enforcement of Contract Values in Planning and
Accounting
•Create revenue methods that can be run accurately in prior periods
•Create period specific backlog reports
Contracts by Period in Reporting and Revenue
Generation
Employee Realization
•Calculates and stores true realization by employee
•Enables tracking of employee profitability and efficiency
Overview
•Allocate employee related revenue to employees on an invoice by invoice basis in Interactive Billing
•Override system proration as needed
Invoice Based Allocation
•Allocate realization project by project over a selected timeframe, with override capabilities
•Ideal for projects where effort and invoicing don’t match
Period Based Allocation
•Report on utilization versus realization percentages
•Report on true employee profitability
Realization Reporting
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Credit Memos
•Create a full or partial credit to any invoice accepted through Interactive Billing•Reprint Credit Memos through Invoices on File
Credit Memo Documents
•Use credit memos to clear outstanding AR off of the AR aged with no additional transaction entry required
Credit Memos and
Outstanding AR
•All Credit Memos get unique numbers, either manually or automatically assigned•Credit Memos are separate lines of detail on all reports and review screens
Audit Trail
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Fee Revenue Allocation
•Supports splitting Fee Billed Values into the appropriate buckets of Labor, Expenses, Consultants, etc. •Allows two calculation methodsOverview•Prorate billed fee revenue to the appropriate bucket based on billed transactions•Select projects to prorate in Billing Terms, transactions to prorate based on in configuration
Transaction Based Allocation
•Define the split for labor, consultant, expenses for each invoice and fee method in Billing Terms
Manual Allocation
•Shows all transaction details associated with billed invoices, by invoice and/or project attributes •Used to support the calculations used in Fee Revenue Allocation
Invoice Transaction Detail Report
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Unit Reporting Enhancements
•Assign unit types for easy selection and sorting in reporting•Choose from standard types or create your own
Unit Types
•Analyze unit usage over date or period ranges•Select unit detail based on unit, project, or employee attributes
Unit Detail Report
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Emailing EFT Remittances
•Allows for auto-generated and formatted emails to be delivered to each contact/employee•Designate vendor contact emails and employee emails to receive remittance•Create formatted email templates for use in emailing remittances
Overview
•Save time and cost of mailing remittances or manually parsing and emailing reports•Avoid delayed EFT payment notification
Benefit
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Pay Multiple Currencies from a Single Bank
•Adds the capability to pay in any configured currency out of a single bank•Allows for assigning the appropriate fee and exchange rate at the time the payment is issued
Overview
•Most firms do not maintain separate accounts for each currency in which they need to issue payments. •Saves time, error prone manual calculations, and complicated work arounds
Benefits
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Intercompany Billing Rate Calculations
•Allows for rate tables between companies to be set up in the intercompany billing configuration, in addition to the existing multiplier and project billing terms options
Overview
•Many multinational companies set rates contractually for use in company cross charging•Alleviates manual calculations and allows more complex company structures to take advantage of Vision Multi Company functionality
Benefits
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Usability Enhancements
• Timesheet Comments– Unlimited, spell check capable memo fields
• Status on Organizations– Facilitate company structure changes without losing historical data
• Check Review Screen– Search and drill down on vendor and check number to see payment details
• Auto Reversing and Recurring Journal Entries– Facilitate recurring entries and accruals
– Avoid manual adjustments and potential entry key errors
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