deltek vision year-end processing procedures

December 2015Deltek Vision User Group

Year-End ProceduresVision Tips & Tricks

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At year end, you need to complete the steps listed in the

Deltek Year End Checklist - you should complete all required

activities in the recommended order

Year End Review


https://deltek.custhelp.com/Deltek Customer Care URL


• Make a complete backup of your Vision database (always test the backup)

• Open a New Period (and possibly a new Fiscal Year)• Enter and assign new Billing Rate Tables• Enter the new timesheet calendar; enter the new

holiday calendar• Adjust employee job cost rates as needed• Begin to process allowable transactions in the new

fiscal year - Do not process any Accounts Payable payment processing, or Payroll processing in the new period


• Complete all Payroll payments and adjustments for 2015

• Install the 2015 Year-End Update (Versions 7.3 and 7.4)Note: For Deltek First Vision Essentials SaaS

customers, the Year-End Update is scheduled and installed by Deltek Cloud Operations.

The timing and specifics of this update will be communicated to the SaaS Administrators within Deltek First Vision Essentials SaaS organizations


• Run the Open New W-2 Quarter utility. Since December is in the fourth quarter, Vision automatically opens a new W-2 Quarter/Year

• Print 2015 W-2 forms and, if applicable, generate the Electronic Filing (Magnetic Media) file.

• Post all 2015 timesheets and, if applicable, run the Open New Benefit Year utility. You can now begin processing 2016 timesheets and Payroll


• Complete all 2015 Accounts Payable payment processing, adjustments, and Accounts Payable disbursements in 2015

• Run the 1099 Initialization utility (See the Year End Guide). You can now begin processing Accounts Payable payments and Accounts Payable disbursements for 2016

• Print 2015 1099-MISC. forms and, if applicable, generate the Electronic Filing file


• Toolbar options in W-2 and 1099 Processing• Use the Electronic Filing Reporting dialog box to

enter information about your firm that will be included in your electronic reporting file.

• For information about Electronic Filing reporting requirements, see www.ssa.gov/employer/

Electronic Filing Reports for W-2s and 1099s

http://www.ssa.gov/employer/


Sample: 1099,

Downloaded to Word


Sample: W-2,Downloaded

to Notepad


• Process any 2015 accounting adjustments, such as journal entries

• Print the final 2015 accounting reports• Close the 2015 periods and fiscal year• Note: These three steps can be done

whenever you and/or your CPA have completed the adjusting journal entries and are ready to close 2015


Final Step: Make a complete backup of your Vision database.

Deltek recommends that you label this backup with the date as well as with the Vision version number


Let’s Take ALook At Some7.5 Features


BankReconciliation

Import


Bank Reconciliation Import


New Multi-CompanyEmployee Option


Employees can be listed as employees in more than one company – and they will be

able to submit timesheets from both companies

Multi-Company Employees


AbsenceRequests


Before employees can begin submitting and approving absence requests, you must:• Configure Benefit Accruals• Assign Benefit Accruals to Employees• Configure and Enable Approval

Workflows for Absence Requests• Adjust Role Security

Absence Requests


Absence Requests


Absence RequestsStep 1 and Step 1 Actions


Absence RequestsStep 2 Conditions

Step 2 Actions


Absence Requests

When Vision validates the first condition and finds that the requested hours exceed 120, an error message will pop up – not allowing the

employee to continue with the request


Dashboard Alert Content


Turn on Approval Requests For Benefits


Requesting Absence


Requesting Absence

Select Dates; Enter Hours Per Day; Click Submit


Approving Absence RequestsClick on the

Dashboard Alert to Approve the

Request


Click on Open Record Button


Finding An Absence Request


Period Range On

Project Reports


New Period Range Reporting Option


TDMEnhancements


TDM (Transactional Document Management) is now available for:• AP Disbursements• Expense Line Item Approvers

Enhancements to TDM


Wherever the TDM page icon is visible, you can now click on it and view the attached receipt or document – some examples are:• Expense Line Item Approval Report• Project Expense Detail Report• Posting Logs

Enhancements to TDM


Enhancements to TDM


Deltek is currently discussing options to incorporate TDM into the Info Centers so documents can be attached (as PDF files) without having to rely on the Files tab.

Watch for information on this upcoming enhancement!

Enhancements to TDM


• Improvement to General Ledger Budgeting• Expansion of Approvals (in 7.4

approvals were added to Purchasing, now APs can be approved as well as the automated Absence Request Approvals)

Some of the General Use Enhancements


The Asset Management Module is available for purchase. The new Equipment Info Center is available if you own the Purchasing Module or if you purchase the Asset Module. The Equipment Info Center can be viewed by any users with security rights. Assets can only be managed by licensed users.

Asset Management Module


There are three ways to enter assets into Vision:1. Purchase Order (must select the Fixed Asset

Category)2. AP Voucher3. Directly Inserted in the Equipment Info Center

(this must be an existing item, not a new acquisition) – the category must be equipment or capital item

Asset Management


As with other modules, the Asset

Management Module requires

some configuration


Running Depreciation


Depreciation Posting Log


Transfer Assets

• Select the asset• Choose the action

(transfer or split); • Enter the project to

receive the asset


Disposal of Assets

• Select the Asset• Choose the

Type (Scrapped or Sold)

• Click Run


Asset Management ReportsUnder Reporting,

click on Equipment then

select Asset Detail/Summary

or select the Equipment List


Asset Summary Report


Equipment List


Tips &

Tricks


The 2016 Social Security wage base is $118,500.00,

the same as in 2015

Tips and Tricks


The 2016 mileage reimbursement rate

is

Tips and Tricks


Finding the formulas used in Report Columns:

Click on the Report, Click on Options. On the General Tab, lower

right corner, Click on Help

Tips and Tricks


For these examples,we are using the

Office Earnings Report but the process is the same for any report.


Scroll down until you see the Columns Tab – Click on this hyperlink


Total Compensation Minus JTD Revenue Amount

Formula For Backlog


Revenue Amount Minus (Direct Expenses +

Reimbursable Expenses)

Formula ForNet Revenue


Net Revenue Divided By Direct Labor At Cost Rates

Formula For Effective Multiplier


Total of All Indirect Expenses Divided By

Total Direct Labor (or Total Revenue)

Formula For Calculating Overhead


Note: If calculating Overhead by the Revenue method, your percentage should be a small number – usually less than 1

If calculating Overhead by the Labor method, your percentage will be a larger number- usually ranging from 1.50 to 2.00


The size of the Job Cost Variance account balance can influence the accuracy of the

overhead calculation

Calculating Overhead


For Weekly or Biweekly Timesheets, you can create two short timesheets for the end of

the month/first of the next month - this keeps labor posted in the

correct accounting period

Tips & Tricks


Note: When using two short timesheets, you must still combine the two when calculating overtime for payroll.


Watch foremail invitations to our

March 2016User Group Meeting Dates


BCSProSoft DeltekAccount Manager:

Shawna Dillard

(800) 882-6705(808) 345-8015


Request a free consultation from an expert at BCS ProSoft

REQUEST COMPLIMENTARY ASSESSMENT

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deltek vision year-end processing procedures

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