Deltek Insight 2012: What's New in Costpoint 7 for Projects?

What’s New in Costpoint 7 for Projects

Anita Knowles, Senior Product Manager, CostpointKim Clark, Senior Principle DesignerDeltekGC-456

2 ©2012 Deltek, Inc. All Rights Reserved

Introduction

New Projects Features

Improvements to ACRN billing

Restricting revenue for closed periods

Status on Open Billing Detail

Changes to Invoicing for T&M Contracts

Global Withholding

Questions

Agenda


Understand: The new improvements to ACRN Billing How to restrict unwanted revenue in closed periods Improvements to Open Billing Detail Report The new option for calculation of T&M contracts New DFAR global withholding functionality

Key Session Takeaways

Improvements to ACRN Billing


Manage ACRN Bills

Enhancements: Use Project Mapping – Project Level At and Below Include Schedule Bill – Must have one row selected


PLC Mapping Accounts

Manage ACRN Bills

Available only for LLR formulas

PLC description not project specific

No overlapping of PLCs on same project

Can use summary or detail accounts

Cannot map PLCs and accounts to same line


Processing steps have been modified Only for ACRN or WAWF projects Allocate Over Ceiling, Retainage, Sales Tax to transaction level project

Additional fields added to BILL_EDIT_DETL table WAWF_CST_CEIL_AMT

WAWF_TOT_CEIL_AMT

WAWF_FEE_CEIL_AMT

WAWF_RTNGE_AMT

WAWF_SALES_TAX_AMT

Calculate Standard Bills


Special handling for Over Ceiling, Retainage, Sales Tax: Reallocated Over Ceiling, Retainage, Sales Tax amounts not visible Edits must occur in the Manage ACRN Bills screen – Current ACRN

Allocation Amount field Edits to reallocated amounts for will prompt a warning message

No change for edits to hours, direct amounts, units, burden, fee and/or Cost of Money (COM)

Manage Standard Bills


Updates new history tables PROJ_ACRN_HDR_HS PROJ_ACRN_DETL_HS No Costpoint user interface to view tables Used to reverse bills

Manage ACRN Bills is updated Current ACRN Allocation Amount reset to 0.00 Previous ACRN Allocation Amount updated with Current ACRN Allocation

amount

Post Standard Bills

Restricting Revenue in Closed Periods


“Restrict Revenue for Closed and N/A Periods” must be selected

Affects entry of revenue adjustments Affects ability to compute revenue Default is for this option to be checked, but it can be unchecked to opt out

at any time Recommended that a period be reopened instead of turning off the

feature

Configure Project Settings


Manage Revenue Information

Fiscal Year/Period/Subperiod is Closed or Not Available:

Will be unable to save revenue adjustment

Will be unable to change existing revenue adjustment


Fiscal Year/Period/Subperiod is Closed or Not Available: Will not be able to compute revenue Can override in prior years by selecting “Process Closed Fiscal Years”

Compute Revenue

Open Billing Detail Report

Status on Report

Added Status on report to show that an item is not being billed in whole or in part

‘H’ – transaction on hold or partial hold – transaction on hold if quantity/hours/amount is zero, partial if not equal to zero

‘W’ – transaction written off or partially written off – transaction written off if quantity/hours/amount is zero, partial if not equal to zero

‘HW’ – transaction has both hold and write-off amounts

Eligible amounts to be billed displayed in quantity/hours/amount columns with no status

Added Billing User Groups

“Assign Bills to User Group” must be selected Only projects linked to user will be included

Status on Report

Changes to Invoicing for T&M Contracts


T&M-type standard invoices printed at billing formula level may not show correct calculation of labor rate times hours due to summarizing detail calculations

Often invoices must be corrected off-line to receive payment Invoice sent to customer does not agree with posted invoice When invoice is paid, differences must be corrected in A/R

What is the Problem?


Used for T&M invoices displaying hours and rates that do not calculate correctly on the billing formula level (summary) invoice

Recalculation based on selections in Hours subtask of Manage Generic Billing Formats (used to aggregate detail lines into groups)

Will recalculate lines only if “Show Billing Rates” and “Show Current Period Hours Billable” are selected

Adjustment made to line with largest amount to bill within group (ex: employee, PLC)

Recalculation flag will be set on adjusted records

Not visible in any screens but exists in BILL_EDIT_DETAIL and BILLING_DETL_HIST

Edit bills in Manage Standard Bills will overwrite adjustments

Recalculation for current amount to bill only

Detail bill lines and support schedules may no longer “foot” across due to adjustment but totals will support the summary invoice

Previously billed amounts will not be recalculated

How Does it Work?


Drag picture to placeholder or click icon to add

Must select “Recalculate Detail Rows” Company-wide selection Once selected cannot be deselected

Configure Billing Settings


Drag picture to placeholder or click icon to add

Lines grouped by selections in Hours subtask of Manage Generic Billing Formats

Must have “Show Billing Rates” and “Show Current Period Hours Billable” are selected

Manage Generic Billing Formats

Global Withholding – Costpoint 7.0.1

Applies to contracts subject to CAS under 41 U.S.C. chapter 15

Withholding payments based on notice from contracting officer for significant business system deficiencies

Withholding percentage may be reduced or eliminated with corrective action plan

If contract contains pre-existing withholds (such as retainage), contracting officer can specify a maximum total withhold percentage

Once withholding percentage is eliminated or reduced, must be able to release prior withholding amounts in part or in full

Global Withholding on Contracts (DFAR 252.242-7005)


New screen to set up withholding codes: Code Description Percentage Not-to-exceed percentage (total of retainage and withholding) Withhold reason

Manage Withholding Codes


New utility to assign/change global withholding methods assigned to the projects, which allows user to:

Assign withholding code to projects, and/or customers, and/or project type, and/or billing formula, or billing user group

Multiple code assignment options

Assign Global Withholding to Projects


Manage Project Billing Information

New screen subtask to set up withholding.

Set checkbox to apply withholding Cannot deselect once

withholding amounts exist in billing history

Use ‘Zero’ code to stop withholding

Manually specify withholding code or view existing codes

Can be populated as part of Import Project Master Data or Mass Add functionality

Assign Global Withholding to Projects


Calculation is same as ‘Total Bill’ retainage on each invoice

Enforces ceiling for amount of retainage & global withheld

Added two checkboxes:

Create zero withholding row

Create zero withholding release row

Release of withholding

Specify % to release on range of codes

Calculating Global Withholding & Release – Standard Bills


Displayed in Edit Standard Bills

Will be included as part of ACRN and WAWF calculation

Print on invoice below Retainage with preconfigured labels

Withhold/Withhold Release will post to separate fields in billing history tables

Visible in billing history tables

Will post to “Unbilled Retainage” account in G/L

Included in reverse bills

No withhold or withhold release on retroactive bills

Calculating Global Withholding & Release – Standard Bills


Revenue Affects “Revenue Equal to Billing” formulas

Unbilled Reports New reason code added for net withhold & withhold release

Project Reports New withhold amount displayed in header of PSR (ITD) Visible in project inquiries also

Unbilled and Revenue Calculations


Please visit me in CP Kiosk #1 – Costpoint 7

Attend GC-56 to find out more about DFAR global withholding session (October 17, 11-12)

Call to Action

Thank You!

Technology

Deltek Insight 2012: What's New in Costpoint 7 for Projects?