Optimize Your General LedgerPresented by Nicole McCarroll, SiloSmashersLori Travis and Stacey McCarver, DeltekGC-473
Session OverviewThis session focuses on the best practices to managing yourGeneral Ledger. Topics for discussion include r...
AgendaLabor Distribution Reconciliations to GLAdvantages of ReconciliationUsing Bank Reconciliation module in GCSOBS and F...
Labor and PayrollThere are many advantages to reconciling your timesheets/ LaborDistribution to your outsourced payroll re...
Import Timesheets                                              Completed and approved timesheets must be                  ...
Auto Adjust Utility6   10/13/2012   ©2012 Deltek, Inc. All Rights Reserved
Auto Adjust UtilityUAUTO-TS toolkit adjusts gross amount to salary amount forall timesheets with the designated dateCan al...
Timesheet Edit Reports8   10/13/2012   ©2012 Deltek, Inc. All Rights Reserved
Timesheet Edit ReportsTimesheet Edit Reports will list timesheet activity not posted toG/LWhen using any one of these repo...
Possible Timesheet Edit ErrorsTimesheet Edit Reports      Ensure all employees have total number of hours in timesheet pe...
Timesheet Edit11   10/13/2012   ©2012 Deltek, Inc. All Rights Reserved
Timesheet EditChanges to imported timesheets should in most cases becompleted with a timesheet correction in the Time Coll...
Prepare Payroll and PostingPrepare Payroll into outsourced payroll systemDo not post Payroll until it is reconciled to the...
Post Labor DistributionOnce the Labor Distribution report is reviewed and any errorscorrected and is reconciled to the gro...
Bank Reconciliation
Using GCS Bank ReconciliationBenefitsWhen to Reconcile the Bank StatementsUnderstanding the Flow of Data      Which posti...
Bank Reconciliation BenefitsBetter utilization of GCS and keeps all accounting processesin one accounting systemKeeps trac...
Journal PostingsThree Journal Postings in GCS will Update the BankReconciliation File      Payroll Journal      Cash Dis...
Journal PostingsAdjusting Journal Entries and Prior Period Journal EntriesMade to Cash Accounts are Not Posted to the Bank...
Steps to Initialize20   10/13/2012    ©2012 Deltek, Inc. All Rights Reserved
Steps to Initialize21   10/13/2012   ©2012 Deltek, Inc. All Rights Reserved
Steps to InitializeAdd the Bank Accounts in the Bank Account File      Timing and beginning cash balance      Changing t...
Steps to InitializeEnter a Negative Record for the Total of the OutstandingChecks/Deposits      This will be an Adjustmen...
Bank Rec Monthly Processing1) Enter the Bank Statement Ending Balance in the Bank Account   File and Change the Period2) P...
Bank Rec Summary Report –              In Balance25   10/13/2012   ©2012 Deltek, Inc. All Rights Reserved
Optimize FinancialReporting
Optimize Financial ReportingOBS is an alternative reporting tool that adds flexibility andcustomization to your Financial ...
Sample OBS28   10/13/2012   ©2012 Deltek, Inc. All Rights Reserved
Initialization of OBSActivated in the G/L ControlFile      Select “Using Organizational       Breakdown Structure”Select ...
Numbering the OBS                                                          1.     Company               1.1              F...
Populate the OBS Levels FileEnter level numbers 1 through6 and descriptions for eachlevel      Level 1 is the highest sum...
Updating the                 Chart of Accounts FileExisting Accounts      New field requirement      Identify where acco...
Income Statement by OBS33   10/13/2012   ©2012 Deltek, Inc. All Rights Reserved
ConclusionGCS has several tools that can provide you with additionalflexibility and options to fully integrate all account...
Q&A
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Optimizing your General Ledger

  1. 1. Optimize Your General LedgerPresented by Nicole McCarroll, SiloSmashersLori Travis and Stacey McCarver, DeltekGC-473
  2. 2. Session OverviewThis session focuses on the best practices to managing yourGeneral Ledger. Topics for discussion include reconcilingLabor Distribution when outsourcing payroll, benefits of usingGCS Bank Reconciliation and using OBS when runningFinancial Statements.2 10/13/2012 ©2012 Deltek, Inc. All Rights Reserved
  3. 3. AgendaLabor Distribution Reconciliations to GLAdvantages of ReconciliationUsing Bank Reconciliation module in GCSOBS and Financial StatementsSummaryQ&A3 10/13/2012 ©2012 Deltek, Inc. All Rights Reserved
  4. 4. Labor and PayrollThere are many advantages to reconciling your timesheets/ LaborDistribution to your outsourced payroll reports. The most significantadvantages are:  No changes/correcting timesheets are needed because corrections are made to the existing timesheets before they are posted.  Reduces the time it takes to research discrepancies, if employees should have payroll questions.  Reduces reconciliation time substantially-the accrued salary account balance will always be correct and will accurately reflect the amount of the next payroll to be paid.  GL accounts will not need additional reconciliations and accounts balances are accurate for annual audits.  Deltek labor/salary reports can be used from GCS  Ensures all timesheets are processed properly and no timesheets are missing4 10/13/2012 ©2012 Deltek, Inc. All Rights Reserved
  5. 5. Import Timesheets Completed and approved timesheets must be exported from Time Collection system into GCS Upon importing an ERROR Report is produced  Errors will NOT import – timesheets must be corrected to avoid missing timesheets that have been exported from Time Collection but not showing in GCS  Warning will import but warning will need to be reviewed and corrected before the next import When error report indicates “no conversion errors detected” or when only warnings are listed – then select import5 10/13/2012 ©2012 Deltek, Inc. All Rights Reserved
  6. 6. Auto Adjust Utility6 10/13/2012 ©2012 Deltek, Inc. All Rights Reserved
  7. 7. Auto Adjust UtilityUAUTO-TS toolkit adjusts gross amount to salary amount forall timesheets with the designated dateCan also auto adjusts timesheet individually in the Enter/EditTimesheet fileProperly allocates these costs to G/L Accounts fromTimesheets7 10/13/2012 ©2012 Deltek, Inc. All Rights Reserved
  8. 8. Timesheet Edit Reports8 10/13/2012 ©2012 Deltek, Inc. All Rights Reserved
  9. 9. Timesheet Edit ReportsTimesheet Edit Reports will list timesheet activity not posted toG/LWhen using any one of these reports for timesheet period withall employees listed and with labor costs the amount of labordollars being posted that will match the amount of grosspayroll on payroll reports9 10/13/2012 ©2012 Deltek, Inc. All Rights Reserved
  10. 10. Possible Timesheet Edit ErrorsTimesheet Edit Reports  Ensure all employees have total number of hours in timesheet period (prorate gross amounts for terms or hires )  Check that the total gross dollar amount matches the Payroll gross amount  Confirm that all employees have entered the appropriate amount of time for the timesheet period (check for LWOP, terms and hires for proration)10 10/13/2012 ©2012 Deltek, Inc. All Rights Reserved
  11. 11. Timesheet Edit11 10/13/2012 ©2012 Deltek, Inc. All Rights Reserved
  12. 12. Timesheet EditChanges to imported timesheets should in most cases becompleted with a timesheet correction in the Time CollectionSystemTimesheet Edit is used for: • Bonus timesheets • Timesheet corrections for prior periods • Adjust amount posted for timesheets • Adjusted salary amounts for leave payouts and severanceThe amount of hours being posted will match the amount ofhours being exported from Time Collection12 10/13/2012 ©2012 Deltek, Inc. All Rights Reserved
  13. 13. Prepare Payroll and PostingPrepare Payroll into outsourced payroll systemDo not post Payroll until it is reconciled to the timesheet editreportIf any variances are located they need to be fixed in theappropriate program (Payroll System or GCS)Once gross amounts match in both on the Payroll andtimesheet edit report Payroll and Labor Distribution may beposted13 10/13/2012 ©2012 Deltek, Inc. All Rights Reserved
  14. 14. Post Labor DistributionOnce the Labor Distribution report is reviewed and any errorscorrected and is reconciled to the gross payroll totals from thePayroll System it can be posted to the G/LOnce posted to the G/L, the Gross payroll amount will balanceto the Gross amount on the Payroll14 10/13/2012 ©2012 Deltek, Inc. All Rights Reserved
  15. 15. Bank Reconciliation
  16. 16. Using GCS Bank ReconciliationBenefitsWhen to Reconcile the Bank StatementsUnderstanding the Flow of Data  Which postings update the Bank Reconciliation File16 10/13/2012 ©2012 Deltek, Inc. All Rights Reserved
  17. 17. Bank Reconciliation BenefitsBetter utilization of GCS and keeps all accounting processesin one accounting systemKeeps track of transactions and corrections which helps withauditsEasy implementation processMonthly Process17 10/13/2012 ©2012 Deltek, Inc. All Rights Reserved
  18. 18. Journal PostingsThree Journal Postings in GCS will Update the BankReconciliation File  Payroll Journal  Cash Disbursements Journal  Cash Receipts Journal18 10/13/2012 ©2012 Deltek, Inc. All Rights Reserved
  19. 19. Journal PostingsAdjusting Journal Entries and Prior Period Journal EntriesMade to Cash Accounts are Not Posted to the Bank Rec FileEntries made to cash accounts in details of the AP Voucherand in the detail of cash receipts do not post to the Bank RecFilesEntries Made to Bank Rec File Do Not Post to the GeneralLedger19 10/13/2012 ©2012 Deltek, Inc. All Rights Reserved
  20. 20. Steps to Initialize20 10/13/2012 ©2012 Deltek, Inc. All Rights Reserved
  21. 21. Steps to Initialize21 10/13/2012 ©2012 Deltek, Inc. All Rights Reserved
  22. 22. Steps to InitializeAdd the Bank Accounts in the Bank Account File  Timing and beginning cash balance  Changing the beginning balance (UCHG-BRF)  Bank statement Balances are not needed until reconciling the first month’s bank statement22 10/13/2012 ©2012 Deltek, Inc. All Rights Reserved
  23. 23. Steps to InitializeEnter a Negative Record for the Total of the OutstandingChecks/Deposits  This will be an Adjustment Entry (AJ)  Accept this recordPrint the Outstanding Items Report  Compare to offline bank reconciliation  Make necessary correctionsProceed to Monthly Processing Steps23 10/13/2012 ©2012 Deltek, Inc. All Rights Reserved
  24. 24. Bank Rec Monthly Processing1) Enter the Bank Statement Ending Balance in the Bank Account File and Change the Period2) Print G/L Comparison Summary Report  Print G/L Comparison Detail if not in balance3) Accept Cleared Checks and Deposits  Batch Bank Acceptance  Bank Reconciliation File4) Print Reports  Outstanding Items Report  Print Unmatched Items Report  Print Bank Reconciliation Summary ReportTo Be Reconciled:  Ending Book Balance = Adjusted Bank Balance  Unmatched Items = 024 10/13/2012 ©2012 Deltek, Inc. All Rights Reserved
  25. 25. Bank Rec Summary Report – In Balance25 10/13/2012 ©2012 Deltek, Inc. All Rights Reserved
  26. 26. Optimize FinancialReporting
  27. 27. Optimize Financial ReportingOBS is an alternative reporting tool that adds flexibility andcustomization to your Financial Reports in GCS  User Defined  Can be Initialized at any time  Available for use on:  Balance Sheet  Income Statement  GL Detail Report  Indirect Expense Report  FS Code Summary Report27 10/13/2012 ©2012 Deltek, Inc. All Rights Reserved
  28. 28. Sample OBS28 10/13/2012 ©2012 Deltek, Inc. All Rights Reserved
  29. 29. Initialization of OBSActivated in the G/L ControlFile  Select “Using Organizational Breakdown Structure”Select “Require OBS atAccount Entry”  Ensures no new accounts are added to the Chart of Accounts File without an OBS number29 10/13/2012 ©2012 Deltek, Inc. All Rights Reserved
  30. 30. Numbering the OBS 1. Company 1.1 Federal 1.2 Commercial 8A 1.3 Division 2 Division 4 Division 3 Division 6 Division 7 Division 1 Division 5 1.1.1 1.1.2 1.1.3 1.2.1 1.2.2 1.3.1 1.3.2 PM 1 PM 2 PM 1 PM 2 PM 3 1.1.2.1 1.1.2.2 1.2.2.1 1.2.2.2 1.2.2.3 PM 1 PM 2 PM 1 PM 2 1.1.1.1 1.1.1.2 1.3.2.1 1.3.2.230 10/13/2012 ©2012 Deltek, Inc. All Rights Reserved
  31. 31. Populate the OBS Levels FileEnter level numbers 1 through6 and descriptions for eachlevel  Level 1 is the highest summary level  Level 6 would be the lowest summary levelThe descriptions identify thepurpose of each level31 10/13/2012 ©2012 Deltek, Inc. All Rights Reserved
  32. 32. Updating the Chart of Accounts FileExisting Accounts  New field requirement  Identify where accounts fall within OBS structure Mass Update tool  Update Range of Accounts with Selected OBS number  Chart of Accounts Mass Update32 10/13/2012 ©2012 Deltek, Inc. All Rights Reserved
  33. 33. Income Statement by OBS33 10/13/2012 ©2012 Deltek, Inc. All Rights Reserved
  34. 34. ConclusionGCS has several tools that can provide you with additionalflexibility and options to fully integrate all accounting functionsinto one system.34 10/13/2012 ©2012 Deltek, Inc. All Rights Reserved
  35. 35. Q&A

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