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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
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https://deltek.custhelp.com/Deltek Customer Care URL
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• 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
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• 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
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• 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
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• 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
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• 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
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Sample: 1099,
Downloaded to Word
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Sample: W-2,Downloaded
to Notepad
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• 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
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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
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Let’s Take ALook At Some7.5 Features
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BankReconciliation
Import
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Bank Reconciliation Import
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New Multi-CompanyEmployee Option
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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
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AbsenceRequests
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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
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Absence Requests
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Absence RequestsStep 1 and Step 1 Actions
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Absence RequestsStep 2 Conditions
Step 2 Actions
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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
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Dashboard Alert Content
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Turn on Approval Requests For Benefits
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Requesting Absence
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Requesting Absence
Select Dates; Enter Hours Per Day; Click Submit
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Approving Absence RequestsClick on the
Dashboard Alert to Approve the
Request
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Click on Open Record Button
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Finding An Absence Request
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Period Range On
Project Reports
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New Period Range Reporting Option
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TDMEnhancements
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TDM (Transactional Document Management) is now available for:• AP Disbursements• Expense Line Item Approvers
Enhancements to TDM
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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
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Enhancements to TDM
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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
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• 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
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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
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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
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As with other modules, the Asset
Management Module requires
some configuration
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Running Depreciation
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Depreciation Posting Log
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Transfer Assets
• Select the asset• Choose the action
(transfer or split); • Enter the project to
receive the asset
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Disposal of Assets
• Select the Asset• Choose the
Type (Scrapped or Sold)
• Click Run
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Asset Management ReportsUnder Reporting,
click on Equipment then
select Asset Detail/Summary
or select the Equipment List
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Asset Summary Report
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Equipment List
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Tips &
Tricks
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The 2016 Social Security wage base is $118,500.00,
the same as in 2015
Tips and Tricks
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The 2016 mileage reimbursement rate
is
Tips and Tricks
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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
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For these examples,we are using the
Office Earnings Report but the process is the same for any report.
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Scroll down until you see the Columns Tab – Click on this hyperlink
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Total Compensation Minus JTD Revenue Amount
Formula For Backlog
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Revenue Amount Minus (Direct Expenses +
Reimbursable Expenses)
Formula ForNet Revenue
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Net Revenue Divided By Direct Labor At Cost Rates
Formula For Effective Multiplier
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Total of All Indirect Expenses Divided By
Total Direct Labor (or Total Revenue)
Formula For Calculating Overhead
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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
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The size of the Job Cost Variance account balance can influence the accuracy of the
overhead calculation
Calculating Overhead
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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
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Note: When using two short timesheets, you must still combine the two when calculating overtime for payroll.
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Watch foremail invitations to our
March 2016User Group Meeting Dates
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BCSProSoft DeltekAccount Manager:
Shawna Dillard
(800) 882-6705(808) 345-8015
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Request a free consultation from an expert at BCS ProSoft
REQUEST COMPLIMENTARY ASSESSMENT
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