Year-End Processing with Deltek Vision | Q4 2014 Vision User Group

Deltek VisionUsers Group

December 2014

http://www.bcsprosoft.com

At year end, you need to complete

the steps listed in the

Deltek Year End Checklist.

You should complete all required

activities in the recommended order.

Year End Review


• Make a complete backup of your Vision database.

• Open a New Period (Fiscal Year).

• Begin to process allowable transactions in the new fiscal year. Do not process any Accounts Payable disbursements, Accounts Payable payment processing, or Payroll processing in the new period.

• Complete all 2014 Payroll payments and adjustments in 2014.


• Install the 2014 Year-End Update (Versions 7.2, 7.3 and 7.4) For Deltek First Vision Essentials SaaS customers, the Year-End Update is scheduled and installed by Deltek Cloud Operations. The timing and specifics of this update will be communicated to the SaaS Administrators within Deltek First Vision Essentials SaaS organizations.

• Run the Open New W-2 Quarter utility. Since December is in the fourth quarter, Vision automatically opens a new W-2 Quarter/Year.


• Print 2014 W-2 forms and, if applicable, generate the Electronic Filing (Magnetic Media) file. You can complete this step at any point after step 5.

• Post all 2014 timesheets and, if applicable, run the Open New Benefit Year utility. You can now begin processing 2015 timesheets and Payroll.


• Complete all 2014 Accounts Payable payment processing, adjustments, and Accounts Payable disbursements in 2014.

• Run the 1099 Initialization utility (See Chapter 7 of the Year End Guide). You can now begin processing Accounts Payable payments and Accounts Payable disbursements for 2015.

• Print 2014 1099-MISC. forms and, if applicable, generate the Electronic Filing file. You can complete this step at any time after step 10.


• Process any 2014 accounting adjustments, such as journal entries.

• Print the final 2014 accounting reports.

• Close the 2014 periods and fiscal year.


Final Step: Make a complete backup. Deltek recommends that you label this backup with the date and the

Vision version number.


Vision

Reporting


Using Standard

Reporting In Vision

To Simplify

Accounting/Auditing

Processes


For the first couple of reports, start with the Employee Labor Detail

Report.


Employee Year End Review


• Regular Hours

• Overtime Hours

• Total Hours

• Provisional Cost Rate (Burdened)

• Provisional Billing Rate

• 3 Calculated Fields

Employee Labor Detail Standard Columns


Employee Provisional Rates


Total Billed:

Employee Report Calculated Fields


Total Burdened Cost:



Company Gross Margin (Hourly):



Company Gross Margin (Salaried):



This employee review report can be run by firms with or without

Vision payroll – the calculations are based on the Provisional Rates fields (Cost and Billing) in the

Employee Info Center.


With a few column adjustments, the Employee Review report becomes a

worksheet for the Worker’s Compensation Audit.


• Regular Hours

• Regular Amount

• Overtime Hours

• Overtime Amount

• Total Hours

• Provisional Cost Rate (Burdened)

• Calculated Field

Employee Labor Detail Standard Columns



Total Burdened Cost (Salaried):

Workers’ Comp Calculated Fields


Total Burdened Cost (Hourly):

Workers’ Comp Calculated Fields


Worksheet for Subs and Consultants for the Worker’s

Compensation Audit (using the Vendor List Report)



For the worksheet for Contractors and Subs,

use the Vendor List Report.


Professional

Liability

Audit


All worksheets for the liability audit report begin with the Office

Earnings Report.


• Revenue Amount

• Calculated Field

Office Earnings Report Standard Columns


Example 1: Provide the

percentage of your firm’s

GROSS RECEIPTS

attributable to the following

services during the last complete year.

Create Worksheets for Each Question



Example 2: Provide the percentages,

based on your firm’s

GROSS RECEIPTS,


disciplines provided by your firm,

excluding sub consultants.



Example 3: Provide the percentage

of your firm’s

GROSS RECEIPTS


projects during the

last complete year.




of your firm’s

GROSS RECEIPTS


types of clients during

the last complete year.



Project User Defined Fields


Audit Report Calculated Fields



of your firm’s

GROSS RECEIPTS

that were paid to

subconsultants and subcontractors

during the last complete year.



Example 5: Identify subs by

Type and whether they are insured


Vendor User Defined Fields



of your firm’s

GROSS RECEIPTS

derived from the following

Contract Forms

during the last complete year.



Sample User Defined Fields for the Report Worksheets

In the Vendor Info Center:

In the Project Info Center:


Setting up the import tab in

configuration for the credit card feature:


Credit Card Import Feature in 7.3


Corresponding Statement Import

10/25/2014 Sat YANKEE PIER SAN FRANCISCO CA William R Apple 25.74

10/25/2014 Sat Moes Cab San Francisco CA William R Apple 60

10/26/2014 Sun SUPERSHUTTLE EXECUCAARLINGTON VA William R Apple 39

10/26/2014 Sun HILTON TDL RESTAURANWASHINGTON DC William R Apple 36.3

10/26/2014 Sun WESTIN SAN FRANCISCOSAN FRANCISCO CA William R Apple 1078.39


Some New

Features

In 7.4


• Pre-Invoices can be generated for a Request for Payment for items not recorded to the General Ledger; pre-invoices will work similar to a retainer and can be “canceled” if unpaid or when an actual invoice is generated

• Check Descriptions added to the Check Register


• Fee Estimate Tool has been added for those owning Vision CRM; this will be in addition to the existing Service Estimate Tool

• Invoice Template Enhancements:

–Insert fields from the Project Info Center

–Highlight the Invoice Total Field

–Simplify the Sub-Total Fields

–Simplify Invoices with lower WBS levels


• Recurring/Reversing Journal Entries

• Updated Purchasing/Inventory Module

• Task Dependencies Added to the Planning Module


Tips and Tricks


If forms are not aligning and printing correctly – print

from the “Print” option Not the “Preview” Screen.

Tips and Tricks


What does marking an accounting period “closed” actually do? It removes it from the Open Period list which helps prevent postings in an incorrect period;

marking a period closed does not prevent you from accessing information

in the closed periods.

Tips and Tricks


Should you consolidate Dormant projects?

1. This will Not reduce the size of your Vision database.

2. The individual project financial information will no longer be available for review – the only way to recover project information is to restore a backup made before the consolidation process was run.

Tips and Tricks


For company mileage reimbursement, if you need to use both the 2014 and the

2015 rates for a few weeks, uncheck the box: Disallow user to edit amount on per

mile on expense reports. This is found under configuration, Time and Expense,

Company Expense, General Tab.

Tips and Tricks


The Year End Update does NOT

update the wage base in Configuration/Payroll/Withholding Codes.

The 2015 base in $118,500.00

up from $117,000.00 in 2014.

Tips and Tricks

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Year-End Processing with Deltek Vision | Q4 2014 Vision User Group

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