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

Deltek Vision
Users 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

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

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