Deltek Insight 2010: Valuable Costpoint Features – Often Overlooked

CP-209 Valuable Costpoint

Features – Often OverlookedDelivered by:

Dan Guessford, RSM McGladrey, Inc.

Brenda Moore, RSM McGladrey, Inc.

Lisa Warrick, Iowa Foundation for Medical Care

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 Revenue

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ACRN Billing

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/ agency

Copyright © 2010 Deltek, Inc. 4


ACRN Bill Setup

• To initialize ACRN billing go to the Billing Settings screen

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ACRN Bill Setup

• In the Billing Settings screen, check the ―Enable ACRN billings‖ checkbox



ACRN Bill Setup

• Select the appropriate project level for your bill in the ―Project Billing Info‖ screen



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 level


• Select the appropriate various billing requirements for the ACRNs as well as the

calculation methods


ACRN Bill Setup



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‖ subtask



ACRN Bill Setup

• Calculate the Standard Bill

• Review the invoice and ―Select‖ the standard bill in the ―Edit Standard Bills

Screen



ACRN Bill Setup

• Once the invoice is selected, go into the ―Calculate ACRN Billings‖

screen



ACRN Bill Setup

• Calculate the ACRN invoice



ACRN Bill Setup

• Enter the ―Print ACRN Billing Edit Report‖



ACRN Bill Setup

• Enter the ―Print ACRN Billing Edit Report‖ and print the ACRN detail



ACRN Bill Setup

• Enter the ―Print Standard Bills‖ screen and print the corresponding invoice



ACRN Bill Setup

• In ―Print Standard Bills‖ select the Print ACRN Data checkbox



ACRN Bill Setup


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)




• 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 amounts




• 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 ORG




• Profit of $994 is the Fixed Price revenue component PSR

• Need to distribute




• Task level labor charged to separate organizations




• Once revenue is computed and correct for the project in total, go to Redistribute

Revenue




• Select the Year, Period and Subperiod as well as the project(s) you wish to

redistribute




• 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 target




• 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) desired


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 can't 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 base




• To set up or modify a multi-job




• 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 Method




• 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)




• 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 posted




• Computing a multi-job




• 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 it




• The source PSR before the multi-job allocation has been completed




• 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 adjustments




• 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 out




• This shows the allocation to the destination projects/orgs/accounts

• Note the allocation of employee labor hours and amounts




• 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 screen




• 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 amount




• 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

descriptions


Alternate Revenue


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

group



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 Project



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)



Alternate Revenue

• PSR will report revenue on one revenue line



Alternate Revenue

• Income Statement reflects

multiple revenue accounts



Q&A

• ACRN Billing

• Revenue Redistribution

• Multi-job Allocation

• Alternate Revenue


Deltek Insight 2010: Valuable Costpoint Features – Often Overlooked

Technology

Transcript of Deltek Insight 2010: Valuable Costpoint Features – Often Overlooked