Date post: | 09-Jul-2015 |
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CP-209 Valuable Costpoint
Features – Often OverlookedDelivered by:
Dan Guessford, RSM McGladrey, Inc.
Brenda Moore, RSM McGladrey, Inc.
Lisa Warrick, Iowa Foundation for Medical Care
Valuable Costpoint Features – Often
Overlooked
• This session will demonstrate various processing features within
Costpoint that are often overlooked, yet provide significant processing
and reporting efficiencies
• These features include:
– ACRN Billing
– Revenue Redistribution
– Multi-job Allocation
– Alternate Revenue
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Valuable Costpoint Features:
ACRN Bill Setup
• ACRN: Accounting Classification Reference Number
• Purpose of Using ACRN billings in Costpoint is to process and manage
groupings of funds issued by the client/ agency
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Valuable Costpoint Features:
ACRN Bill Setup
• To initialize ACRN billing go to the Billing Settings screen
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Valuable Costpoint Features:
ACRN Bill Setup
• In the Billing Settings screen, check the ―Enable ACRN billings‖ checkbox
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Valuable Costpoint Features:
ACRN Bill Setup
• Select the appropriate project level for your bill in the ―Project Billing Info‖ screen
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Valuable Costpoint Features:
ACRN Bill Setup
• In the ―Maintain ACRN Bills‖ screen, setup the ACRNs
• The ACRN setup must be at the same project level as the bill level
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• Select the appropriate various billing requirements for the ACRNs as well as the
calculation methods
Valuable Costpoint Features:
ACRN Bill Setup
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Valuable Costpoint Features:
ACRN Bill Setup
• If ―ACRN Only w/Account Mapping‖ or ―ACRN/ Line Item w/Account Mapping‖
are selected, link the applicable accounts to the ACRN line on the main screen
using the ―Accounts‖ subtask
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Valuable Costpoint Features:
ACRN Bill Setup
• Calculate the Standard Bill
• Review the invoice and ―Select‖ the standard bill in the ―Edit Standard Bills
Screen
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Valuable Costpoint Features:
ACRN Bill Setup
• Once the invoice is selected, go into the ―Calculate ACRN Billings‖
screen
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Valuable Costpoint Features:
ACRN Bill Setup
• Calculate the ACRN invoice
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Valuable Costpoint Features:
ACRN Bill Setup
• Enter the ―Print ACRN Billing Edit Report‖
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Valuable Costpoint Features:
ACRN Bill Setup
• Enter the ―Print ACRN Billing Edit Report‖ and print the ACRN detail
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Valuable Costpoint Features:
ACRN Bill Setup
• Enter the ―Print Standard Bills‖ screen and print the corresponding invoice
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Valuable Costpoint Features:
ACRN Bill Setup
• In ―Print Standard Bills‖ select the Print ACRN Data checkbox
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Valuable Costpoint Features:
Revenue Redistribution
• Redistributes the revenue that has been applied on a given project task
to all accounts/orgs that incurred cost on the other tasks within that
project
• Divides the Allowed Cost for Each Task (in total, irrespective of account
or organization) by the Total Allowed Cost for the entire project—
percentage of revenue that each task will receive (weighted average)
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Valuable Costpoint Features:
Revenue Redistribution
• Important Notes:
– Perform ONLY after Computing Revenue BUT BEFORE POSTING
REVENUE
– Perform one time per accounting period
– For projects with non-cost-based revenue formulas (fixed amounts,
Revenue=Billings, Revenue=G/L, Revenue=ETC or EAC)
– For projects whose revenue formula is cost-based, revenue is calculated
separately for each account/org combination that incurred cost
– Can be used to redistribute over-ceiling or revenue adjustment amounts
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Valuable Costpoint Features:
Revenue Redistribution
• Example: Fixed Price project
– Revenue posts at the home org of
the project for a fixed amount of
$10,000
– Labor is charged to a lower leg of
the project—different performing
ORGs
– Revenue needs to be posted
based on performing ORG
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Valuable Costpoint Features:
Revenue Redistribution
• Profit of $994 is the Fixed Price revenue component PSR
• Need to distribute
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Valuable Costpoint Features:
Revenue Redistribution
• Task level labor charged to separate organizations
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Valuable Costpoint Features:
Revenue Redistribution
• Once revenue is computed and correct for the project in total, go to Redistribute
Revenue
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Valuable Costpoint Features:
Revenue Redistribution
• Select the Year, Period and Subperiod as well as the project(s) you wish to
redistribute
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Valuable Costpoint Features:
Revenue Redistribution
• The $994 of revenue is redistributed based on the labor costs by the
performing org
• Total labor is $3000
– Org 1.01.002.01 has $2000 direct labor to performing org 1.01.002.01
(2000/3000 X 994 = $662.67)
– Org 1.01.008.01 has $1000 direct labor to performing org 1.01.008.01
(1000/3000 X 994 = $331.33)
• Update Project Status Report Table (Review)
• Create Project Report Tables (Review)
• Post Revenue for the ONE project to post revenue
• Post at actual or target
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Valuable Costpoint Features:
Revenue Redistribution
• Key difference in the two redistribution processes—system
calculated vs. by project
– Redistribute Revenue function—redistributes on a YTD basis, based upon
revenue
– Redistribute Revenue by Project—redistributes on a PTD basis, based upon
costs
• If a project that is being redistributed has no cost, the revenue on the
project for the period selected will be assigned to the top level of the
project
• In the system based calculation, you cannot correct this distribution;
however, in the Project-By-Project Redistribution function, you can
assign the distribution of revenue to any related task(s) desired
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Valuable Costpoint Features:
Multi-job Allocation
• The Multi-job function can be used for a variety of cost allocations
– We typically use multi-jobs to allocate costs within a contract, such as
administrative costs that impact all tasks, but can't be specifically identified as
amounts to each task
– The Multi-job function can be used to allocate by line item expense (such as
Salaries, Travel, ODCs) or can be used to cost out other things such as
mileage (for usage of a company van)
– The Multi-job function gives you the ability to narrow your allocation by
specific project/account/org combinations, unlike indirect allocations that only
allow account org combinations in the base
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Valuable Costpoint Features:
Multi-job Allocation
• To set up or modify a multi-job
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Valuable Costpoint Features:
Multi-job Allocation
• Specify the source project, the allocation method, allocation basis and the multi-
job credit account
• You can allocate employee/vendor labor hours and dollar, but only if you select
Current Period for your allocation basis
• Example will use the Cost Incurred Method
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Valuable Costpoint Features:
Multi-job Allocation
• Cost accounts can be entered in ranges
• For a single account you still need to enter it as a range (starting and ending
using the same account)
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Valuable Costpoint Features:
Multi-job Allocation
• In the Cost/Hours Base you need to enter the ranges of projects and accounts
to be used as a basis for the allocation
• Unlike indirect allocations, the multi-job allows you to specify project/account/org
combinations for the base
• You need a unique Debit Account for your multi-job allocation—this is the
account that will be debited in the destination project when your multi-job has
been posted
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Valuable Costpoint Features:
Multi-job Allocation
• Computing a multi-job
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Valuable Costpoint Features:
Multi-job Allocation
• You can set up saved named parameters for your multi-job allocations
• This will allow you to set up your multi-jobs in the Process Manager so you can
automate running the allocations each month
• Compute the Allocation runs the multi-job you have set up and assigns a multi-
job entry number to it
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Valuable Costpoint Features:
Multi-job Allocation
• The source PSR before the multi-job allocation has been completed
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Valuable Costpoint Features:
Multi-job Allocation
• Once you have computed your multi-job you can print the Journal Entry Edit
Report and review the allocation for accuracy
• If the entry is incorrect you can either delete the entry and the history to correct
any problems and recompute or you can simply compute the multi-job again and
it will create a separate entry for any adjustments
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Valuable Costpoint Features:
Multi-job Allocation
• The multi-job posting report shows detailed information on the allocation—this
page shows the amounts being credited to the source project to effectively zero
the project out
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Valuable Costpoint Features:
Multi-job Allocation
• This shows the allocation to the destination projects/orgs/accounts
• Note the allocation of employee labor hours and amounts
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Valuable Costpoint Features:
Multi-job Allocation
• Once you have determined the entry is correct you may proceed to posting
• The journal type will appear under ―Multi-job Allocations‖ in the posting screen
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Valuable Costpoint Features:
Multi-job Allocation
• The source project after the multi-job allocation shows a line for the credit,
leaving the balance of the project at zero
• The line item detail is still intact so you can see the specific expenses that make
up the allocated amount
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Valuable Costpoint Features:
Multi-job Allocation
• One of the destination projects that received an allocation
• The lines highlighted in yellow are multi-job allocations received by this project
• To differentiate between accounts MJ is used as prefix in multi-job account
descriptions
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Valuable Costpoint Features:
Alternate Revenue
• Use Alternate Revenue to set up multiple revenue accounts for a single
project account group
• The accounts that are assigned a function code of ALT REV collect
revenue generated by the labor, non-labor, and units accounts—you can
use this function code multiple times within a single project account
group
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Valuable Costpoint Features:
Alternate Revenue
• Setup Project Account Group (PAG) with Revenue and ALT Revenue Function
Code
• Enter Revenue Account on Revenue Account Mapping field for each Labor and
Non-Labor Function Code Account
• Assign PAG to the Project
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Valuable Costpoint Features:
Alternate Revenue
• Costpoint will post to the revenue account as it is assigned to each expense
account in the PAG
• In this example, labor was posted to 40000-00 (revenue) and travel was posted
to 40000-01 (ODC revenue)
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Valuable Costpoint Features:
Alternate Revenue
• PSR will report revenue on one revenue line
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Valuable Costpoint Features:
Alternate Revenue
• Income Statement reflects
multiple revenue accounts
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