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Month End Close Process(ID.16)

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Objectives

• Describe the process an agency will follow using Vantage Standard Functionality to meet the requirements of a particular Key Business Scenario.

• This document focuses on the following areas: Description of current scenario and details of execution in Legacy system Process execution of standard Vantage functionality with high level steps Vantage standard process documentation, which agencies will use to execute

the scenario in Vantage

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CURRENT PROCESS

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Current Process – Key Components

Computron Close Reporting Schedule (Sample June’2013) – Local Office

Due RESPONSIBILITY SCH # DESCRIPTIONQ LOCAL 1.3A REVENUE ANALYSIS - Quarter to Date (Summary) Q LOCAL 1.3B REVENUE ANALYSIS - Quarter to Date (Detail)Y LOCAL 1.4A REVENUE ANALYSIS - Year to Date (Summary) Y LOCAL 1.4B REVENUE ANALYSIS - Year to Date (Detail)

M/Q LOCAL 2 OTHER INCOME 8500, 8503, 8504, 8505M/Q LOCAL 2.1 OTHER INCOME 8514, 8515, 8516, 8517M/Q LOCAL IC1_BS BALANCE SHEET INTERCOMPANYM/Q LOCAL IC1_EQ EQUITY INTERCOMPANYM/Q LOCAL IC1_INVEQINVESTMENT EQUITY INTERCOMPANYM/Q LOCAL IC1_IS P&L INTERCOMPANYM/Q LOCAL 3.1 INTERCOMPANY DISPUTE ANALYSISM/Q LOCAL 3.4 GIS SCHEDULEM/Q LOCAL 4 DISPOSITIONS/STEP-DOWNS (where no longer consolidated)Q LOCAL 4.1 OFFICE CLOSURES AND MERGERS

M/Q LOCAL 6.1 STOCKHOLDER'S EQUITYM/Q LOCAL 6.2 TRANSFER OF PROFIT - Other

M/Q LOCAL 6.3 TRANSFER OF PROFIT - INTRA BUSINESS UNIT

M/Q LOCAL 6.4 TRANSFER OF PROFIT - TAX TRANSFERS

LOCAL 8.2 ALLOWANCE FOR DOUBTFUL ACCOUNTSQ LOCAL 9.2 ALLOWANCE FOR EXPENDITURES BILLABLE Q LOCAL 10 INVESTMENTS IN UNCONSOLIDATED AFFILIATESQ LOCAL 11 INVESTMENTS IN SUBSIDIARIESQ LOCAL 12 OTHER NON-CURRENT ASSETS

Q LOCAL 13 PREPAID EXPENSES - OtherQ LOCAL 13.1 OTHER CURRENT ASSETSQ LOCAL 14 OTHER ACCRUED EXPENSESQ LOCAL 15 OTHER NON-CURRENT LIABILITIESQ LOCAL 16 ACCOUNTS RECEIVABLE- OTHERQ LOCAL 18 INCOME / (LOSS) ATTRIBUTABLE TO NONCONTROLLING INTERESTS (NCIPL)Q LOCAL 19 EQUITY IN NET INCOME OF UNCONSOLIDATED AFFILIATESQ LOCAL 21 ANALYSIS OF GOODWILLQ LOCAL 22 NON-CONTROLLING INTERESTS (NCI)Q LOCAL 23.1 MARKETABLE SECURITIES - ROLLFORWARDQ LOCAL 24.1 COST INVESTMENTS - ROLLFORWARD

Q LOCAL 25 LONG TERM DEBT ROLLFORWARDQ LOCAL 29 INTANGIBLE ASSETS - OTHERQ LOCAL 29.1 AMORTIZATION ROLLFORWARD OF INTANGIBLE ASSETS - OTHERQ LOCAL 30.5 DEFINED BENEFIT AND DEFINED CONTRIBUTION EXPENSESY 36 LONG TERM DEBT MATURITY PAYMENTS - FUTURE PAYMENTSY 38.1 LEASE COMMITMENTS - PremisesY 38.2 LEASE COMMITMENTS - EquipmentQ LOCAL 46 VALUATION & QUALIFYING ACCOUNTS RESERVE - Allowance for Doubtful AccountsQ LOCAL 51 RELATED PARTY TRANSACTIONSQ LOCAL 52 SIGNIFICANT NON-CASH BALANCE SHEET TRANSACTIONS

Q LOCAL 53 Non-FSR Credit Liability AgingNote: Certain schedules are due only on the quarter, some are due every month and others only Year end- this is indicated below (M =

every month) (Q = quarterly

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Current Process – Key ComponentsComputron Close Reporting Schedule (Sample June’2013) – Shared Services

Due RESPONSIBILITY SCH # DESCRIPTION

M/Q SHARED SERVICES 8.1 CLIENT ACCOUNTS RECEIVABLE AGING

M/Q SHARED SERVICES 9.1 EXPENDITURES BILLABLE TO CLIENTS

Q SHARED SERVICES 20.1 FIXED ASSETS, COST

Q SHARED SERVICES 20.2 ACCUMULATED DEPRECIATION

Q SHARED SERVICES 20.3 FIXED ASSETS, NET

Q SHARED SERVICES 20.4 FIXED ASSETS - Prior Year Capital Expenditure Accrual

Q SHARED SERVICES 20.5 FIXED ASSETS - PROCEEDS ON THE SALE/DISPOSAL OF FIXED ASSETS

Note: Certain schedules are due only on the quarter, some are due every month and others only Year end- this is indicated below (M = every month) (Q = quarterly

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OBJECTIVES AND SUCCESS CRITERIA

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Objectives and Success Criteria

Describe the process an agency will follow using Vantage Standard Functionality to meet the requirements of a particular Key Business Scenario

This document focuses on the following areas: Description of Current Scenario and details of execution in Legacy system Process execution high level steps using Vantage Standard Functionality Supporting Vantage Standard process documentation agencies will use to

execute the scenario in Vantage

Our intent is to make sure you have a solid understanding of the of the month end close processes within Vantage

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END OF MONTH - MANAGING COSTS

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Billing End of Month - Managing CostsOverview of Activities

• Post AP• All PO based invoices have been approved by the buyers

• All non-PO invoices have been coded by the LO invoice controller and approved by Finance checker.

• Post Time• All time for that reporting period is posted• Time super user has the ability to execute the time posting

program on demand.

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Billing End of Month - Managing CostsOverview of Activities• Run Reports and prepare for review meetings

• Project Summary/Activity Reports• Transfer/write-off reports• Missing Time reports

• Job Closing – set job status to stop allowing costs to be incurred (STIN)

• What other end of month cost managing activities do you do today?

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Billing End of Month - Managing CostsAgency Assignments

Activity Responsible Person

Accountable Person

Consulted Person

Informed Person

Timing Communication

Post APBuyers/PO creators

Buyers/PO creators/approvers

N/A N/A Ongoing; end of month push (before 3rd week and month end)

Email communication

Post TimeEnd users; time super user

End users; time super user

N/A Analysts Weekly; all time by EOM

Email

Run reports; prepare

for review meetings

Billers, Account Mgmt/Production teams

Billers, Account Mgmt/Production teams

Analysts Analysts if issues arise

Ongoing for the first three weeks

Meetings

Job Closing -

STIN

Production, Account Services al – Acct Svcs

Account Mgmt, Production, Finance

N/A Analysts Ongoing; push during billing; push at EOM

Meetings (Billing meeting); ongoing meetings

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Billing End of Month - Managing CostsAgency Assignments

Activity Reports Used Forms Used

Post AP ZWF_RPT N/A

Run reports; prepare

for review meetings

1. Transfer/write-offs

2. ZPAR/ZAWIP3. Priced Time4. Missing time

N/A

Job Closing -

STIN

ZPAR N/A

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Billing End of Month - BillingAgency Assignments

Activity Responsible Person

Accountable Person

Consulted Person

Informed Person

Timing Communication

Review Hard Costs

BillingAccount Services, Production

AP N/A Prior to 3rd week (Billing)

Meetings

Determine charges/time to postpone

BillingAccount Services, Production

Analysts (time)

Suraiya Ahmed Prior to month end (during 3rd week of month)

Meetings

Determine hard costs

transfers and write-offs

Billing

Account Services, Production

Analysts (time)

Suraiya Ahmed Prior to month end (during 3rd week of month)

Meetings

Review of time posted

to jobBilling

Account Services, Production

Analysts Suraiya Ahmed Prior to month end (during 3rd week of month); End of month

Meetings

Determine time transfers

Billing

Account Services, Production (varies by agency)

Analysts Suraiya Ahmed Ongoing; Prior to month end (during 3rd week of month); End of month

Form email; as needed

Approval of transfers

Billing

Account Services, Production (varies by agency)

Analysts Cheryl Gordon/Suraiya Ahmed

Ongoing; Prior to month end (during 3rd week of month); End of month

Form email; as needed

Maintain rates

Analysts

Account Services

MD’s N/A Ongoing as rate changes; end of year

Contract, email

Reprice rates as necessary

Analysts

Account Services

MD’s N/A Ongoing as rate changes; end of year

Contract, email

Job Closing - STBI Billing

Account Services, Production

N/A N/A Ongoing; push during 3rd week

Meetings, email

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Billing End of Month - BillingAgency Assignments

Activity Reports Used Forms Used

Review Hard Costs

ZPAR (Project Activity)

Determine charges/time to postpone

ZBILL

Determine hard costs

transfers and write-offs

ZBILL

Review of time posted

to job

BW/ZPAR, Priced Time Report

Determine time transfers

ZPAR

Approval of transfers

Time transfer report

Manual form offline

Maintain rates

VK13

Reprice rates as necessary

N/A

Job Closing - STBI

Job Close Status Report

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END OF MONTH - REVENUE

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Billing End of Month - RevenueAgency Assignments

Activity Responsible Person

Accountable Person

Consulted Person

Informed Person

Timing Communication

Run reports; prepare for

review meetings

Billing

Analysts N/A Account Services

4th week Meetings

Create ETCs Analysts

Account Services

N/A Suraiya Ahmed

Currently 1st week; as soon as value is known; 4th week moving forward

Meetings

Check revenue recognition settings on new jobs

Analysts

Suraiya Ahmed

N/A Account Services

Ongoing N/A

Enter ETC values Analysts

Suraiya Ahmed

N/A N/A 4th week N/A

Enter Earned Monthly (if applicable)

AnalystsSuraiya Ahmed

N/A N/A 4th week N/A

Run revenue reports to confirm revenue

Analysts

Suraiya Ahmed

N/A Suraiya Ahmed

during 4th week; End of day 1; through day 4

Month end meetings

Perform manual

accruals/deferrals

Billing

Analysts N/A Suraiya Ahmed

Day 2 – day 4 N/A

Job Closing - STRR Analysts

Alexis / Suraiya Ahmed

Billing, Account Services

N/A Ongoing Meetings, email

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Billing End of Month - RevenueAgency Assignments

Activity Reports used Forms used

Run reports; prepare for review meetings

BW

Create ETCs Offline spreadsheets

Check revenue recognition settings on

new jobs

ZRRBS (Accrual, Deferral, WIP by job)

Enter ETC values*Vantage report – ZRRBS? Open question w/

Network – what does NY want?

Enter Earned Monthly values

*Vantage report – ZRRBS?

Run revenue reports to confirm revenue

1. ZRRTYP (Revenue by Typ)2. ZRRMON (Revenue by Month)3. ZRR01/ZRR03 (Revenue Detail Report)BW

Perform manual accruals/deferrals

JE forms used now – won’t be needed in Vantage (backup can be attached)

Job Closing - STRR

N/A N/A – will this be needed moving forward as once status is set job cannot be reopened?

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The period end close managed globally by Corporate and the Shared Service groups

The close schedule was developed based on current Corporate deadlines

The close schedule can only be modified by Corporate

Month End Closing Schedule:

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Proposed Future State Process - Details

Microsoft Office PowerPoint Presentation