CP-37:Employees, Vendors & Billing…Oh My!

Rebecca Holmes, Caitlyn Wood & April Thompson Teksouth Corporation

EmployeesVendors

BillingOH my!

Take Away Expectations….

Discuss how a particular item, such as a vendor, employee or customer is

tracked through the Costpoint system from beginning to end.

Look at how the journey of each of these items affects the financial

statements.

We will look at the mapped steps taken to complete each section of the

process.

We will also share some examples of our vendors/employees and show their

individual journey.

Shared examples from audience members on issues or other successful ways

to process these items.

What’s first on the agenda?

Employee Info

HR Data

Data can be pulled from this page to assist with

things such as VETS and EEO Reporting

Address/Contact

Timesheet Defaults

Salary Information

Anytime an employee has a pay rate change, we create a new

Salary Info record, so that we can easily go back and view past

data if needed.

Leave

If you have a rehire who needs to resume

their previous PTO accrual rate, you may

have to adjust the dates on this screen to

reflect their tenure.

Taxes

If the employee works in an area subject to Local Tax (MD for

example), don’t forget to enter the county they live in!

Bank Information

The ACH Trans Code needs to be set to “pre-note checking or pre-note

savings.” This will change status when the bank account is activated. You will

enter the method (either fixed amount, percentage, or residual).

After these have been entered, click the “active” and “direct deposit file

created” checkboxes at the top, and make sure the active and pending

residual account rank numbers are correct (these should be the lowest rank

on the list if you have multiple bank accounts).

Employee Self Service

Benefit Elections

Use the shortcut “F2” to add a new line!

Next up, the Accounts Payable Process

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Establishing the Vendor & Pay Address

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Vendor & Pay Address Cont..

Entering the Voucher

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Voucher Edit ReportThis is the time to review the voucher and make any changes needed before posting.

*Important: Verify the vendor, due date, amount due, and the FY and period you are posting the

voucher in.

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APPROVE VOUCHERS

Posting

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Paying Vouchers

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Time for Some Billing

Loading the Labor Rates

Process and Post Billings

Print Standard Invoices

Standard Invoice Example

Post Standard Invoices

Process & Post Billings Cont…

Print Unbilled Analysis Report

Receivables…

The Financials…

The Income Statement

The Balance Sheet

The Balance Sheet Continued

Why is Initial Setup Important?

If an employee has been entered with an incorrect job title, that

could affect the billing rate assigned to that employee.

This would affect the billing by either billing at a higher or lower rate

than needed, costing the company revenue.

If a vendor’s invoice is entered incorrectly, it could affect the billing

by either being applied to the wrong project code or perhaps not

being billed altogether.

This results in an incorrect cost amount to that project as well as the

vendor reporting functions.

All of these errors affect the bottom line of the financials. If a

company misrepresents their financials, that could have a devastating

effect on their ability to obtain financing, pass audits, etc.

The Finish Line!!