Post on 12-Jun-2020
transcript
VI-93: Taking Advantage of Recent Billing
EnhancementsMelissa Coffey
Agenda
Invoice Approvals
Invoice Template Editor Enhancements
New 7.6 functionality
– Retainer Ledger
– Invoice and Backup format options
– AR Statement enhancements
Invoice Approvals (7.1)
Invoice ApprovalsHighlights
Speeds up the invoicing process by organizing and automating the steps from draft bill to final
acceptance of the invoice.
Provides alerts to move along the invoice approval process.
Provides electronic comments and retains a history of the communication.
Allows delegation of the approval process when primary approver is absent.
Invoice ApprovalsProcess
Biller
submits
invoice
PM reviews:
previews invoice
online, reviews
summary information,
adjusts transaction
detail, updates
percent complete,
enters comments and
approves invoice
Alert is sent
to approver
(Project
Manager)
Alert is
sent to
Biller
Invoice is
final accepted
and sent to
client
Draft
InvoiceFinal
Invoice
Invoice ApprovalsConfiguration
• Enable Invoice Approval by company
• Define Default Approval Process
• Define process in billing terms by project
Invoice ApprovalsApproval Process and Alerts
Define the workflow for the Invoice Approval Process
• Alert Project Manager when invoice is ready to be approved.
• Alert Biller when invoice is ready to be final accepted.
• Alert Biller if invoice is rejected with reason.
Invoice ApprovalsSubmit Invoices
Invoices can be submitted through Interactive Billing or Batch Billing.
Submit process will kick off alerts to PM to review and approve invoices.
Invoice ApprovalsComments
Audit record of all comments
for the entire life of project.
Bring all comments online.
Comments specify any
adjustments prior to finalizing.
Invoice Approvals
Review a summarized list of all invoices in the current approval process.
•Preview invoice, review approval comments, update fees
•Approve and Reject
Invoice ApprovalsInteractive Approvals – General Tab
• Preview invoices
• Review and enter comments
• Invoice Billed to Date information
• Project Fees
• Project JTD financial Information
• Approve and Reject
Invoice ApprovalsInteractive Approvals – Details Tab
• PM can review labor and expenses associated with submitted invoice.
• PM can review any NEW transactions.
• PM can make adjustments (transfer, hold, write off) with proper security access.
Invoice ApprovalsUpdate Fees
Project Manager can update percent completes as part of the approval process.
New billing terms record access security allows the PM to ONLY update percent complete within
fee billing terms.
Invoice ApprovalsFinalize Invoice
Accepted invoice with no corrections
– Finalize invoice through Interactive Billing or Batch Billing and send to client.
Accepted invoice with corrections
– Make necessary corrections, accept and send to client.
Rejected Invoice
– Make necessary adjustments and resubmit to restart approval process with approver.
Template Editor Enhancements (7.4)
Invoice Enhancements
Insert fields from Project Info Center in Invoice
Header
Highlight Invoice total
Simplify Subtotals
Hide all details within Section
Simplify invoice format with multiple lower WBS
levels (labels, totals, lines)
Include Currency on Section Subtotals
Group billing phases
Invoice Header: Add Project Fields
Highlight Invoice TotalHeader and Footer
Simplify Invoice SectionsHide Subtotal
7.3 Sample Invoice Sample Invoice with new option
Simplify Invoice SectionTotals Only
7.3 Sample Invoice Sample Invoice with new option
Simplify Billing by WBSExample
7.3 Sample Invoice Sample Invoice with new options
Hide lines between phases
Hide phase subtotal
Hide Phase label and Number
Simplify Billing by WBS
• Option to Print Phase number, Option to hide
the Phase Header
• Option to hide the Phase total
• Option to format or hide line separating Phases
Currency Code on Section Subtotal
7.3 Sample Sample with new option
Misc. Tab of Invoice Template Editor
Billing Phase GroupingSample Invoice
Billing Phase GroupingSample Billing Terms
Enable Phase GroupingHide Detail
• Show only the Phase Groups and
not the individual billing phases
• Provides ability to breakout billing
phase posting by WBS without
showing detail to client.
New Functionality in 7.6
Retainer Ledger
Detailed retainer
transactions by project
Retainer Ledger Options
• Show complete details
associated with retainers (all CR
and IN)
• Review retainer totals by project
and/or by client
• Review retainer amounts
received for specific timeframe
(last year, first quarter)
AR Statement
AR Statement Options
• Greater flexibility in designing AR
statement. Create similar look as
invoice.
• Add a logo to your AR Statement.
• Define margins for information
printed in the heading.
• Print project long name.
Batch Unsubmit
Employee Name on InvoiceInvoice Report
7.5 - Employee Name 7.6 - Labor Category Description
Replace employee name with Labor Category Description, Labor Code Description or Title while
displaying date and comments.
Employee Name on InvoiceBackup Report
Replace employee name with Labor Category Description, Labor Code Description or Title on Billing
Backup Report.
7.5 - Employee Name 7.6 - Labor Category Description
Employee Name on InvoiceBilling Terms
Labor Billing TermsBilling Backup Terms
Billing Backup – Draft InvoicesShow Expense on Fee Projects
Billing Backup – Draft InvoicesShow Expense on Fee Projects
Billing Backup – Final and Draft InvoicesShow Fee Total and Add on
Please submit a survey for this session via the
mobile app.
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