Deltek Insight 2012: What's New in Costpoint 7 for Projects?
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Deltek Insight 2012: What's New in Costpoint 7 for Projects?

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This session will cover some of the new project features that will be available in Costpoint 7. For example, do you have Time and Materials invoices that customers will not pay because the invoice ...

This session will cover some of the new project features that will be available in Costpoint 7. For example, do you have Time and Materials invoices that customers will not pay because the invoice total does not agree with the amount derived when you multiply the billable hours by the rate? We have solved this problem, among others, in Costpoint 7. Join us for a detailed discussion of this and other new features of the Costpoint 7 release. Intermediate Level.

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  • Project Mapping – available only with “ACRN Only with Mapping” or ACRN/Line Item with Mapping”Project Level At and Below – editable only if “Use Project Mapping” is selectedInclude Schedule Bill – one row must be selected since schedule bill amounts are held at billing level and are not associated with an account in the billing tables
  • PLC Mapping – available only for LLR formulas, cannot overlap PLC within same project, PLC description is not project specific Account Mapping – can use summary or detail accounts, no overlapping of accounts within same projectRules for acct and plc mapping:Billing Requirement is ‘ACRN Only with Mapping’ or ‘ACRN/Line Item with Mapping’ and ‘Use Project Mapping’ box is unselected:Must have at least one line in the Account or PLC Mapping subtask for each Sequence NumberBilling Requirement is ‘ACRN Only with Mapping’ or ‘ACRN/Line Item with Mapping’ and ‘Use Project Mapping’ is selected: Mapping account or project labor categories is optionalException: If the same project number is used on multiple lines in the child table window and an account or project labor category exists for one sequence number, there must be at least one line in the ‘Accounts’ or ‘PLC Mapping’ subtask for all sequence numbers having the same project number
  • Processing had to be modified to allocate any Over Ceiling and/or Retainage amounts from the Billing Level of the project to the transaction level of the projects. Fields are only populated for projects who have a record in Maintain ACRN Bills or Maintain Project WAWF Information.Special handling for Over Ceiling and/or Retainage Amounts.Reallocated Over Ceiling and Retainage Amounts not visible in ‘Edit Standard Bills’ screenEdits must occur in the ‘Maintain ACRN Bills’ screen – Current ACRN Allocation Amount field
  • Significant deficiencies in business systems: Accounting, Earned value management, estimating, property management, purchasing

Deltek Insight 2012: What's New in Costpoint 7 for Projects? Deltek Insight 2012: What's New in Costpoint 7 for Projects? Presentation Transcript

  • What’s New in Costpoint 7for ProjectsAnita Knowles, Senior Product Manager, CostpointKim Clark, Senior Principle DesignerDeltekGC-456
  • AgendaIntroductionNew Projects Features  Improvements to ACRN billing  Restricting revenue for closed periods  Status on Open Billing Detail  Changes to Invoicing for T&M Contracts  Global Withholding  Questions2 ©2012 Deltek, Inc. All Rights Reserved
  • Key Session TakeawaysUnderstand:  The new improvements to ACRN Billing  How to restrict unwanted revenue in closed periods  Improvements to Open Billing Detail Report  The new option for calculation of T&M contracts  New DFAR global withholding functionality3 ©2012 Deltek, Inc. All Rights Reserved
  • Improvements to ACRNBilling
  • Manage ACRN BillsEnhancements:  Use Project Mapping – Project Level At and Below  Include Schedule Bill – Must have one row selected5 ©2012 Deltek, Inc. All Rights Reserved
  • Manage ACRN Bills PLC Mapping Accounts  Available only for LLR formulas  Can use summary or detail accounts  PLC description not project specific  Cannot map PLCs and accounts to same line  No overlapping of PLCs on same project6 ©2012 Deltek, Inc. All Rights Reserved
  • Calculate Standard BillsProcessing steps have been modified  Only for ACRN or WAWF projects  Allocate Over Ceiling, Retainage, Sales Tax to transaction level project  Additional fields added to BILL_EDIT_DETL table  WAWF_CST_CEIL_AMT  WAWF_TOT_CEIL_AMT  WAWF_FEE_CEIL_AMT  WAWF_RTNGE_AMT  WAWF_SALES_TAX_AMT7 ©2012 Deltek, Inc. All Rights Reserved
  • Manage Standard BillsSpecial handling for Over Ceiling, Retainage, Sales Tax:  Reallocated Over Ceiling, Retainage, Sales Tax amounts not visible  Edits must occur in the Manage ACRN Bills screen – Current ACRN Allocation Amount field  Edits to reallocated amounts for will prompt a warning messageNo change for edits to hours, direct amounts, units, burden,fee and/or Cost of Money (COM)8 ©2012 Deltek, Inc. All Rights Reserved
  • Post Standard BillsUpdates new history tables  PROJ_ACRN_HDR_HS  PROJ_ACRN_DETL_HS  No Costpoint user interface to view tables  Used to reverse billsManage ACRN Bills is updated  Current ACRN Allocation Amount reset to 0.00  Previous ACRN Allocation Amount updated with Current ACRN Allocation amount9 ©2012 Deltek, Inc. All Rights Reserved
  • Restricting Revenue inClosed Periods
  • Configure Project Settings “Restrict Revenue for Closed and N/A Periods” must be selected  Affects entry of revenue adjustments  Affects ability to compute revenue  Default is for this option to be checked, but it can be unchecked to opt out at any time  Recommended that a period be reopened instead of turning off the feature11 ©2012 Deltek, Inc. All Rights Reserved
  • Manage Revenue Information Fiscal Year/Period/Subperiod is Closed or Not Available:  Will be unable to save revenue adjustment  Will be unable to change existing revenue adjustment12 ©2012 Deltek, Inc. All Rights Reserved
  • Compute Revenue Fiscal Year/Period/Subperiod is Closed or Not Available:  Will not be able to compute revenue  Can override in prior years by selecting “Process Closed Fiscal Years”13 ©2012 Deltek, Inc. All Rights Reserved
  • Open Billing Detail Report
  • Status on ReportAdded Status on report to show that an item is not being billed in whole or in part  „H‟ – transaction on hold or partial hold – transaction on hold if quantity/hours/amount is zero, partial if not equal to zero  „W‟ – transaction written off or partially written off – transaction written off if quantity/hours/amount is zero, partial if not equal to zero  „HW‟ – transaction has both hold and write-off amounts  Eligible amounts to be billed displayed in quantity/hours/amount columns with no status
  • Status on ReportAdded Billing User Groups  “Assign Bills to User Group” must be selected  Only projects linked to user will be included
  • Changes to Invoicingfor T&M Contracts
  • What is the Problem?T&M-type standard invoices printed at billing formula levelmay not show correct calculation of labor rate times hours dueto summarizing detail calculationsOften invoices must be corrected off-line to receive payment  Invoice sent to customer does not agree with posted invoice  When invoice is paid, differences must be corrected in A/R18 ©2012 Deltek, Inc. All Rights Reserved
  • How Does it Work?Used for T&M invoices displaying hours and rates that do not calculatecorrectly on the billing formula level (summary) invoiceRecalculation based on selections in Hours subtask of Manage Generic BillingFormats (used to aggregate detail lines into groups)  Will recalculate lines only if “Show Billing Rates” and “Show Current Period Hours Billable” are selected  Adjustment made to line with largest amount to bill within group (ex: employee, PLC)  Recalculation flag will be set on adjusted records  Not visible in any screens but exists in BILL_EDIT_DETAIL and BILLING_DETL_HIST  Edit bills in Manage Standard Bills will overwrite adjustmentsRecalculation for current amount to bill only  Detail bill lines and support schedules may no longer “foot” across due to adjustment but totals will support the summary invoicePreviously billed amounts will not be recalculated19 ©2012 Deltek, Inc. All Rights Reserved
  • Configure Billing Settings  Must select “Recalculate Detail Rows”  Company-wide selection  Once selected cannot be deselected20 ©2012 Deltek, Inc. All Rights Reserved
  • Manage Generic Billing Formats Lines grouped by selections in Hours subtask of Manage Generic Billing Formats  Must have “Show Billing Rates” and “Show Current Period Hours Billable” are selected21 ©2012 Deltek, Inc. All Rights Reserved
  • Global Withholding –Costpoint 7.0.1
  • Global Withholding on Contracts (DFAR 252.242-7005)Applies to contracts subject to CAS under 41 U.S.C. chapter 15Withholding payments based on notice from contracting officer forsignificant business system deficienciesWithholding percentage may be reduced or eliminated withcorrective action planIf contract contains pre-existing withholds (such as retainage),contracting officer can specify a maximum total withhold percentageOnce withholding percentage is eliminated or reduced, must be ableto release prior withholding amounts in part or in full
  • Manage Withholding Codes New screen to set up withholding codes:  Code  Description  Percentage  Not-to-exceed percentage (total of retainage and withholding)  Withhold reason24 ©2012 Deltek, Inc. All Rights Reserved
  • Assign Global Withholding to ProjectsNew utility to assign/changeglobal withholding methodsassigned to the projects,which allows user to:  Assign withholding code to projects, and/or customers, and/or project type, and/or billing formula, or billing user group  Multiple code assignment options25 ©2012 Deltek, Inc. All Rights Reserved
  • Assign Global Withholding to ProjectsManage Project BillingInformationNew screen subtask to set upwithholding.  Set checkbox to apply withholding  Cannot deselect once withholding amounts exist in billing history  Use „Zero‟ code to stop withholding  Manually specify withholding code or view existing codesCan be populated as part ofImport Project Master Data orMass Add functionality26 ©2012 Deltek, Inc. All Rights Reserved
  • Calculating Global Withholding & Release – Standard BillsCalculation is same as „TotalBill‟ retainage on each invoice  Enforces ceiling for amount of retainage & global withheldAdded two checkboxes:  Create zero withholding row  Create zero withholding release rowRelease of withholding  Specify % to release on range of codes27 ©2012 Deltek, Inc. All Rights Reserved
  • Calculating Global Withholding & Release – Standard BillsDisplayed in Edit Standard BillsWill be included as part of ACRN and WAWF calculationPrint on invoice below Retainage with preconfigured labelsWithhold/Withhold Release will post to separate fields in billinghistory tablesVisible in billing history tablesWill post to “Unbilled Retainage” account in G/LIncluded in reverse billsNo withhold or withhold release on retroactive bills28 ©2012 Deltek, Inc. All Rights Reserved
  • Unbilled and Revenue CalculationsRevenue  Affects “Revenue Equal to Billing” formulasUnbilled Reports  New reason code added for net withhold & withhold releaseProject Reports  New withhold amount displayed in header of PSR (ITD)  Visible in project inquiries also29 ©2012 Deltek, Inc. All Rights Reserved
  • Call to ActionPlease visit me in CP Kiosk #1 – Costpoint 7Attend GC-56 to find out more about DFAR global withholdingsession (October 17, 11-12)30 ©2012 Deltek, Inc. All Rights Reserved
  • Thank You!