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Deltek Insight 2010: Valuable Costpoint Features – Often Overlooked

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  • 1. CP-209 Valuable CostpointFeatures – Often OverlookedDelivered by:Dan Guessford, RSM McGladrey, Inc.Brenda Moore, RSM McGladrey, Inc.Lisa Warrick, Iowa Foundation for Medical Care
  • 2. 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 RevenueCopyright © 2010 Deltek, Inc. 2
  • 3. ACRN Billing
  • 4. 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/ agencyCopyright © 2010 Deltek, Inc. 4
  • 5. Valuable Costpoint Features: ACRN Bill Setup• To initialize ACRN billing go to the Billing Settings screenCopyright © 2010 Deltek, Inc. 5
  • 6. Valuable Costpoint Features: ACRN Bill Setup• In the Billing Settings screen, check the ―Enable ACRN billings‖ checkboxCopyright © 2010 Deltek, Inc. 6
  • 7. Valuable Costpoint Features: ACRN Bill Setup• Select the appropriate project level for your bill in the ―Project Billing Info‖ screenCopyright © 2010 Deltek, Inc. 7
  • 8. 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 levelCopyright © 2010 Deltek, Inc. 8
  • 9. Valuable Costpoint Features: ACRN Bill Setup• Select the appropriate various billing requirements for the ACRNs as well as the calculation methodsCopyright © 2010 Deltek, Inc. 9
  • 10. 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‖ subtaskCopyright © 2010 Deltek, Inc. 10
  • 11. Valuable Costpoint Features: ACRN Bill Setup• Calculate the Standard Bill• Review the invoice and ―Select‖ the standard bill in the ―Edit Standard Bills ScreenCopyright © 2010 Deltek, Inc. 11
  • 12. Valuable Costpoint Features: ACRN Bill Setup• Once the invoice is selected, go into the ―Calculate ACRN Billings‖ screenCopyright © 2010 Deltek, Inc. 12
  • 13. Valuable Costpoint Features: ACRN Bill Setup• Calculate the ACRN invoiceCopyright © 2010 Deltek, Inc. 13
  • 14. Valuable Costpoint Features: ACRN Bill Setup• Enter the ―Print ACRN Billing Edit Report‖Copyright © 2010 Deltek, Inc. 14
  • 15. Valuable Costpoint Features: ACRN Bill Setup• Enter the ―Print ACRN Billing Edit Report‖ and print the ACRN detailCopyright © 2010 Deltek, Inc. 15
  • 16. Valuable Costpoint Features: ACRN Bill Setup• Enter the ―Print Standard Bills‖ screen and print the corresponding invoiceCopyright © 2010 Deltek, Inc. 16
  • 17. Valuable Costpoint Features: ACRN Bill Setup• In ―Print Standard Bills‖ select the Print ACRN Data checkboxCopyright © 2010 Deltek, Inc. 17
  • 18. Valuable Costpoint Features: ACRN Bill SetupCopyright © 2010 Deltek, Inc. 18
  • 19. Revenue Redistribution
  • 20. 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)Copyright © 2010 Deltek, Inc. 20
  • 21. 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 amountsCopyright © 2010 Deltek, Inc. 21
  • 22. 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 ORGCopyright © 2010 Deltek, Inc. 22
  • 23. Valuable Costpoint Features: Revenue Redistribution• Profit of $994 is the Fixed Price revenue component PSR• Need to distributeCopyright © 2010 Deltek, Inc. 23
  • 24. Valuable Costpoint Features: Revenue RedistributionCopyright © 2010 Deltek, Inc. 24
  • 25. Valuable Costpoint Features: Revenue Redistribution• Task level labor charged to separate organizationsCopyright © 2010 Deltek, Inc. 25
  • 26. Valuable Costpoint Features: Revenue Redistribution• Once revenue is computed and correct for the project in total, go to Redistribute RevenueCopyright © 2010 Deltek, Inc. 26
  • 27. Valuable Costpoint Features: Revenue Redistribution• Select the Year, Period and Subperiod as well as the project(s) you wish to redistributeCopyright © 2010 Deltek, Inc. 27
  • 28. 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 targetCopyright © 2010 Deltek, Inc. 28
  • 29. Valuable Costpoint Features: Revenue RedistributionCopyright © 2010 Deltek, Inc. 29
  • 30. Valuable Costpoint Features: Revenue RedistributionCopyright © 2010 Deltek, Inc. 30
  • 31. 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) desiredCopyright © 2010 Deltek, Inc. 31
  • 32. Multi-job Allocation
  • 33. 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 cant 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 baseCopyright © 2010 Deltek, Inc. 33
  • 34. Valuable Costpoint Features: Multi-job Allocation• To set up or modify a multi-jobCopyright © 2010 Deltek, Inc. 34
  • 35. 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 MethodCopyright © 2010 Deltek, Inc. 35
  • 36. 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)Copyright © 2010 Deltek, Inc. 36
  • 37. 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 postedCopyright © 2010 Deltek, Inc. 37
  • 38. Valuable Costpoint Features: Multi-job Allocation• Computing a multi-jobCopyright © 2010 Deltek, Inc. 38
  • 39. 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 itCopyright © 2010 Deltek, Inc. 39
  • 40. Valuable Costpoint Features: Multi-job Allocation• The source PSR before the multi-job allocation has been completedCopyright © 2010 Deltek, Inc. 40
  • 41. 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 adjustmentsCopyright © 2010 Deltek, Inc. 41
  • 42. 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 outCopyright © 2010 Deltek, Inc. 42
  • 43. Valuable Costpoint Features: Multi-job Allocation• This shows the allocation to the destination projects/orgs/accounts• Note the allocation of employee labor hours and amountsCopyright © 2010 Deltek, Inc. 43
  • 44. 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 screenCopyright © 2010 Deltek, Inc. 44
  • 45. 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 amountCopyright © 2010 Deltek, Inc. 45
  • 46. 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 descriptionsCopyright © 2010 Deltek, Inc. 46
  • 47. Alternate Revenue
  • 48. 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 groupCopyright © 2010 Deltek, Inc. 48
  • 49. 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 ProjectCopyright © 2010 Deltek, Inc. 49
  • 50. 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)Copyright © 2010 Deltek, Inc. 50
  • 51. Valuable Costpoint Features: Alternate Revenue• PSR will report revenue on one revenue lineCopyright © 2010 Deltek, Inc. 51
  • 52. Valuable Costpoint Features: Alternate Revenue• Income Statement reflects multiple revenue accountsCopyright © 2010 Deltek, Inc. 52
  • 53. Valuable Costpoint Features: Q&A• ACRN Billing• Revenue Redistribution• Multi-job Allocation• Alternate RevenueCopyright © 2010 Deltek, Inc. 53