Full Sail Partners Blog

Do More with Deltek Vision Workflows

Posted by Ryan Felkel on Wed, Jul 18, 2018 @ 11:35 AM

Deltek Vision WorkflowsMany Deltek Vision users are unaware of the vast capabilities of workflows. From managing repetitive tasks to ensuring information is updated, workflows are extremely versatile and easy to setup. Let’s take a look at some Vision CRM workflows.

Workflow Examples for Deltek Vision CRM Users

Contacts - Track companies where your contacts have previously worked and automatically update a user defined grid when the Client field is changed on the contact record allowing information to stay up-to-date.

Marketing Campaigns – Automatically add predefined activities for Marketing Campaign follow-ups to ensure follow-through on your marketing efforts.

Opportunities – Make sure the business development team is following up on opportunities by creating Actions and Alerts that are prompted when an Opportunity is opened, a stage is changed and when the Opportunity is closed.

Warning Notifications - Give a gentle reminder to fill in a field value using a workflow to display a warning message. When a user changes the value of one field, a workflow can trigger a warning to indicate another field requires more information only when a specific value is chosen.

Error Notification - Use a workflow to display an error message instead of making all fields required. When a user changes the value of one field, a workflow can trigger an error message requiring an update to another field before being able to save when a specific value is chosen.

Contact Record Verification - Provide employees further insight on the validity of contact information by creating a workflow using custom fields. Employees simply check a checkbox, and through a workflow, the modified user and the date the checkbox was checked can populate reducing the number of fields the end user has to fill in.

Let Deltek Vision Workflows Work for You

These are just a few examples of things you can do with CRM workflows in Deltek Vision. Setting these workflows up is actually easier than you think and will save you and your firm lots of time. Checkout “Navigating Workflows: Standard and Advanced” and “Oh the Places You Can Go with Workflows, Alerts, and Stored Procedures” to learn more about workflows!

Deltek Vision Workflows  

Topics: Deltek Vision, CRM, Technology Solutions

Getting to Know Marketing Campaigns in Deltek Vision

Posted by Ryan Felkel on Wed, Jun 13, 2018 @ 03:37 PM

Digital MarketingIf you’re a marketing professional that uses Deltek Vision, you should definitely be taking advantage of the marketing campaigns Info Center available in Vision. First and foremost, any marketing effort from email blasts to clients to attending a conference can and should be tracked in a marketing campaign. Also, marketing campaigns in Vision provide visibility into the success of your marketing efforts and people within your firm can see prospects that were targeted for a specific campaign. Here are some ways you can use marketing campaigns to improve your firm’s marketing efforts.

Targeted Marketing Campaigns

Let’s say you have a segment of an industry you want to market your services to - how does Deltek Vision and the marketing campaigns help you? Using Vision’s advanced search functionality, you can drill down in your CRM system to identify prospects you want to reach with your campaign. Even more, you can associate them to a marketing campaign in Vision to allow you to track these prospects and easily create lists.

Want to create an email blast to send to your identified prospects to promote your services? If you use marketing campaigns in Vision and a third-party email marketing platform like Constant Contact or MailChimp, there’s an integration to make this happen. You create the email in the automated marketing platform you use and then quickly associate the targets in your Vision marketing campaign to the email you created. The need to export and import contacts is eliminated.

Furthermore, in the Vision marketing campaign, you can see your email stats such as clicks, bounces and unsubscribes. All of this data allows you to evaluate the success of your effort. If it sounds too good to be true, learn more here.

Industry Conferences

At industry conferences, you’re likely to attend educational seminars and social events in the expo hall. You’ll have many opportunities to network with existing clients and prospects, as well as find new leads. So, what do you do with all those notes and new business cards? If you created a marketing campaign prior to the conference, you can simply add these people with notes to the marketing campaign in your spare time at the conference.

Additionally, if you attend the same conferences every year, marketing campaigns can track who was there in prior years. The campaign notes also show which people are consistently spoken to at each event. This allows you to preplan who you want to target and what you want to talk to them about next time.

Wait, there’s more! If you are an event sponsor, you may also be able to get a list of who is registered for the conference. These people can be added to the marketing campaign prior to the event which makes adding notes on the targets easier since they are already associated to the campaign you created. You can also choose your targets knowing with near certainty that they are attending the conference.  

Event Hosting

Does your firm host webinars or client events? If the answer is yes, you probably target a specific segment of your clients and prospects to market your events. Like the targeted campaigns mentioned above, you can quickly segment your contacts to identify who you want to invite to your event. When using a marketing campaign in Deltek Vision to assist you, you can easily add these contacts to your campaign and track who attended. This information will help your firm evaluate the success of the events you do.

More Benefits to Using Deltek Vision Marketing Campaigns

By using Deltek Vision marketing campaigns, you’ve seen that you can easily track touchpoints with leads, prospects and clients to gain visibility into the entire lifecycle of developing business. Furthermore, you can learn what works and what doesn’t work when marketing to contacts to create more business. However, once you create a marketing campaign, you can also create a project in Vision for that marketing campaign. You can bill your time and expenses associated with it to better improve your ability to track the ROI of your marketing efforts. So, what are you waiting for? Start using marketing campaigns in Vision today to show the success of your marketing efforts.

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Topics: Marketing, CRM, Deltek Vision

Tips and Tricks for Deltek Vision Users

Posted by Ryan Felkel on Wed, May 16, 2018 @ 11:35 AM

 

Deltek_Vision_Logo_16Deltek Vision is a powerful tool with many capabilities to ensure the success of project-based businesses. Despite the availability, users often overlook or simply just don’t know some of the things Vision can do to make their jobs easier. Let’s take a look at some tips and tricks to learn how to get more out of your Vision system.

10 Tips and Tricks for Deltek Vision Users

  1. You can create a Web dash part that links to a web site, a file, a report, or a Web Outlook site. Unlike the Links dash part, which can list many links, the Web dash part displays the content associated with a single link. To display a website on your dashboard, navigate to the Dashboard. Click on Configure > Add Web Dash part. In the Address Type choose HTTP to display a website. Then provide a Web Part Name and add the URL and click save.
  2. A UDIC or a User Defined Info Center can be created to track custom information in a separate Info Center. To create a UDIC, go to Configuration > General > User Defined Components, and click the New Info Center button at the top. Then name the Info Center and select Activities Grid or Files Grid to add those tabs. As with any Info Center, now add custom tabs, grids and tabs. 
  3. Display settings were introduced in Vision 7.0. You can find them in User Options. From here, you can change the color scheme of Vision. Each element has its own display setting. For example, you can make required fields a particular color such as yellow.  
  4. The Record Access tab of the Security roles now contains a checkbox called "Enable Self Service in Employee Review." To display the Employee Review form, click Human Resources from the Vision Navigation menu and then click on Employee Review.
  5. You can now edit Activities fields directly in the grid that is located in any Info Center. Previously, the fields in the grid were display-only and could only be edited by clicking the Edit option on the grid toolbar. 
  6. An Equipment Info Center comes with the addition of the Purchasing or Asset Management modules. It stores two types of items, asset items and equipment items.
  7. You can create a Client record from a Vendor record. Under the Vision Navigation Tree, click on Utilities > Advanced Utilities > Create Client from Vendor.  
  8. You can email or run a report at a later time. Use the Schedule dialog box which is available in applications where you can use the process servers, such as Reporting. The Schedule button also allows you to set-up reoccurring activities. For example, you could send a report every Monday to project managers.
  9. You can now exclude projects on a resume by the number of hours worked on a project in the Custom Proposals module. This new feature can be accessed when adding new Projects to a resume by checking "Only include Projects where this Employee worked more than this many hours" and inputting the number of hours. For example, you can exclude any projects that have less than 20 hours associated to an employee from showing up in your search criteria. 
  10. Each department head can enter their own General Ledger budgets and submit them through an approval process in Vision. Those budgets can then be combined into a company-wide General Ledger budget.

Do More with Deltek Vision

These tips and tricks should help you get more value from a tool like Deltek Vision. Remember, there are always ways to explore how your firm can better utilize Vision. Contact Full Sail Partners, and we will be happy to assist you in this endeavor.

Reach Full Sail Partners  

Topics: Deltek Vision, Tips

5 Things you Didn’t Know iAccess Could do for Marketing and Business Development

Posted by Lindsay Diven on Fri, Mar 23, 2018 @ 11:46 AM

Deltek iAccessAcquiring and maintaining accurate client data is absolutely necessary for both marketers and business developers. Marketers need it to provide valuable content to clients and business developers for a successful sales pipeline. Additionally, as with any other firm department, both marketers and business developers need a way to track their efficiency and effectiveness. With iAccess, this all can be achieved. Here are five things you probably weren’t aware of that iAccess can do for marketing and business development:

1. On the Go CRM Without an App

Business developers and marketers spend lots of time on the go rather than at their desks. With iAccess, you can use the web browser in your mobile devices to update your CRM and keep data current. We recommend saving it as a bookmark or using the “Add to Home Screen” option for even quicker access on the go. 

Furthermore, the iAccess Business Development workspace enables you to contribute and maintain key pipeline information wherever you are as long as you have an internet connection. 

2. Enter and Edit Contacts, Opportunities, and Touch Points

Using iAccess, you can work with Contacts and Opportunities as well as set up touch points. Under the Contacts tab, you can perform basic searches and add contacts. The contact area provides quick access to key information for your contacts such as title, phone numbers, company, location and email address. You can even add image links into contact records.

From the Opportunities tab, you can view all your current opportunities as well as add new opportunities. You can easily change and view data such as the opportunity stage or see what client you are working on. Additionally, you can view and update the touch points as well as quickly add a touch point within any of the tabs by clicking on add touchpoint under the Touchpoint tab.

If the standard saved searches don’t provide the information you need, you can create a custom search. When you create a custom search, you can save it for the future, so you do not have to continually recreate the search parameters. 

3. Easily Sort, Filter, and Export Opportunity Reports

Opportunities are found within the Business Development workspace of iAccess. Here you have critical information at your fingertips. You have the option to sort opportunities by active opportunities, all opportunities or just those that you are associated with as part of the team. See the opportunities instantly as you filter and organize. These reports can then be exported to wherever you want them to go.

4. Track Your Department Spending

Another nice feature of iAccess is that you can use it to track department spending and can make sure you are being effective and efficient with your resources. If you set up budgets for Promotional Projects, you can easily see where you are Job to Date (JTD) and Year to Date (YTD) for that project. In that project record using the Project Management workspace, iAccess provides visuals to  see the labor and expenses that have been charged to the promo number and what budget is left.

5. Update Contact Notes Using Talk to Text 

A final iAccess benefit is that you can use “talk to text” to update Contact and Opportunity records. When you open iAccess using your mobile devices (explained above), you can use the talk to text feature to update any field. We like to update touch points and notes using this talk to text method. There couldn’t be an easier way to provide a meeting summary after visiting a contact. 

Let iAccess Work for Marketing and Business Development 

Now that you have discovered five things that iAccess can do for marketing and business development, are you ready to try it out? For more information, check out these past webinars to get an introduction to iAccess for business developers and to learn how to connect to Vision from anywhere with iAccess. Lastly, if you’re attending the SMPS Southwest Regional Conference, make sure to attend Lindsay Diven’s pre-conference Vision CRM workshop.

Conferences and Events

Topics: Deltek Vision, Building Business, Marketing

Understanding Project Budgets in Deltek Vision

Posted by Michael Kessler, PMP on Thu, Mar 08, 2018 @ 03:03 PM

Project Budget

More often than not, firms that use Deltek Vision can find project budgets in the Budget and Revenue tab of the Project Info Center. There you will find a series of fields that will be further defined later in this blog. Before we go too far down the rabbit hole, let’s dive into some basics. 

Deltek Vision Project Info Center

A good place to start is the Project Info Center, and whether you use the Budget and Revenue or Contract Management tab, the definitions are the same. Deltek Vision refers to budget as total compensation, but in very simple terms, it is your contractual fee or upset amount. It is statutory, referring to the agreed upon amount between seller and buyer. In no way should this be minimized as Vision uses it for many calculations and processes, but it may not necessarily be the budget. Here are some key terms you should be familiar with: 

  • Direct Labor is the portion of the contract value that relates to your firm’s effort and you can segregate WIP and backlog specifics to this amount using revenue categories
  • Direct Expense is other direct costs such as travel that is part of your fee and not a pass through
  • Compensation is the sum of Direct Labor and Expense in Vision
  • Direct Consultants are third party consultants that are part of your fee and not a pass through
  • Reimbursable Expenses are other direct costs such as travel that are going to be passed (possibly with a markup) to your client through invoicing
  • Reimbursable Consultants are third party consultants that are going to be passed (possibly with a markup) to your client through invoicing
  • Reimbursable Allowance is the sum of the Reimbursable Expense and Allowance
  • Agreed Upon Contractual Value is the sum of the Compensation, Direct Consultant and Reimbursable Allowance 

Furthermore, all these fields are available for reporting and revenue calculations. 

Locating Budget Amounts in Deltek Vision 

It is important to remember that even though these amounts are available in the Billing module, they are not systematically linked. It is true, however, that total compensation is the maximum that can be invoiced or earned. This amount is external client facing. Keep in mind, this is not the project budget. 

What, what, what? The above is not a budget? In the case of a fixed fee or a lump sum project, we would expect the total compensation to reflect the budget, but the budget should be comprised of labor and expense loaded hours/amounts over a proposed schedule based on fee and scope. Simply stated, a budget is internal and should be used for comparison to actual costs charged to the project. 

Maintaining Project Budgets 

In closing, budgets should be re-visited and re-casted. If managed properly, firms will gain high levels of profitability. A key take away is that, for fixed fee or lump sum projects, performing under budget creates “windfalls” or the difference between the total compensation that was invoiced and earned.

Deltek Vision Navigational Analysis  

Topics: Professional Services, Accounting, Deltek Vision

Why Your Firm Should Be Using the Deltek Vision Payroll Module

Posted by Scott Gailhouse on Wed, Feb 21, 2018 @ 11:05 AM

Payroll It is amazing that so many people aren’t even aware of the numerous benefits of using the Deltek Vision Payroll module. For starters, the Payroll module in Vision is a robust application that gives you control over your payroll process that you otherwise wouldn’t have if you used an outside payroll company. It allows you to meet the increasingly complex regulatory requirements by defining taxable wages based on any withholding codes that you create. You can also define how other pay wages impact a withholding calculation. All of this can be done from Payroll Withholding Setup. 

How the Deltek Vision Payroll Module Works

If your firm is using the Payroll module to process your payroll, Deltek Vision will use information from the Employee Info Center, the Project Info Center, the Transaction Center, and Accounting Cost/Pay Rate tables to process payroll.

Some of the main features of the Vision Payroll module are:

  • 2 overtime multipliers – There are some firms that are required to pay overtime (OT) to hourly employees. For example, you may have to pay time and a half for some OT hours worked and maybe double time for other OT hours worked. Vision can be configured to accomplish this. For added flexibility, you also have the option to bill these overtime hours at a higher billing rate in billing terms.
  • User-defined other pay fields – In addition to an employee’s regular salary, you can also add payments for other items. Some firms will use these fields to record bonus payments, moving allowance payments, allowances for fitness club memberships, public transit passes, etc.
  • Contribution codes – If you make payments on behalf of your employees, i.e. state unemployment or 401k matches, you can track those payments using contribution codes. Contribution codes can record those amounts by employee. Vision will also post the entry to the balance sheet liability account.
  • Withholding codes – In addition to the standard federal, FICA, and state withholding codes, users can create their own user-defined withholding codes to suite your firm’s needs. You can create withholding codes for medical insurance, cafeteria plans, wage garnishments and Roth IRA plans to name a few.
  • Direct deposit – Vision supports the direct deposit of funds directly into an employee’s bank account(s).
  • Payroll types – Most payroll runs processed in Vision are for your regular weekly, biweekly or semimonthly or monthly payrolls. You can also process adjustment payrolls to make changes to a payroll that has already been processed. Furthermore, you can use this feature to adjust pay, withholdings, regular, overtime, and secondary overtime pay hours, and accrued benefit hours. A bonus payroll run automates the process of giving your employees bonuses.
  • Payroll reporting – Using Vision payroll reporting, you can generate worksheets that help you fill out state unemployment insurance reports, quarterly state income tax reports, and federal Forms 940 and 941.
  • W-2 forms - The Payroll module prints a W-2 for each employee who was paid during the calendar year. You can print W-2s on W-2 forms that are specially designed for use on computer printers.

Integrate with Outside Payroll Companies

If, however, you decide that your firm would rather use an outside payroll company to process payroll, despite the benefits of using the Deltek Vision Payroll Module, Vision offers an interface option that can export timesheet data to most large payroll companies including ADP, Paychex and Ceridian. With this integration, a third party will be able to manage the complex areas of payroll processing such as tax withholdings.

Do More with the Deltek Vision Payroll Module

It should now be evident to most people that the Deltek Vision Payroll module is an extremely flexible tool that can be used to help your firm streamline the payroll process. The Payroll module additionally provides a wide-range of detailed reports based on the information stored in your Vision database. So, start realizing the benefits of using the Vision Payroll module and improve your firm’s payroll process today.

Deltek Vision Navigational Analysis  

Topics: Deltek Vision, Accounting

No More Excuses – iAccess, You Access, We ALL Access

Posted by Kevin Hebblethwaite on Wed, Feb 14, 2018 @ 11:00 AM

Business Development Now that I have your attention, I must admit I totally hijacked that title from my good friend and fellow Full Sailor Rana Blair. In January, she presented a webinar on using Deltek Vision’s iAccess features to enhance the project management function of your firm. It was such a big hit, that we decided to continue the conversation in February. We’ll shift the focus to iAccess’ capabilities for enhancing client/contact management, tracking your pipeline of new work, and preparing for Vision’s future.

I’m convinced Rana was right. We’re at a point where there truly are NO MORE EXCUSES. Now is the time for all good client-facing associates in professional services firms to have immediate access to critical client information. If you don’t, no big deal, your competition will figure it out for you.

Commit to Using Deltek Vision as Your Corporate Contact Manager

It still boggles my mind how many Deltek Vision users don’t do this, sometimes even with the CRM module in place. One of my favorite parts of the module is the remote access to Vision CRM through iAccess. You can roll out access to critical client and contact information to anyone with a license and a data connection. While we typically refer to the CRM module as more of a marketing and BD toolset, contact information is used across the entire firm.

While iAccess screens possess many of the same fields and functions as the traditional “smart client” for Vision, you can easily arrange for custom tabs and fields to appear as well. None of this works, of course, unless you’ve done a decent job at migrating existing critical data and launched a good process for capturing additional information as it comes into your firm.

Gain Clear Insight into the Next 6 to 12 Months of New Work

Pipelines do not have to be complicated, but at a minimum, they should allow your firm to pull from existing client information and maintain a weighted list of future revenue estimates. The basic information required to do this (client, name of pursuit, estimated revenue, start date, and finish date) is typically best-known by the individuals closest to the client. iAccess can assist you by minimizing the distance between those individuals and the fields where you house the information.

If you’re already well-versed at managing Opportunities in Vision, consider iAccess as a tool in your bag to help key rainmakers maintain and update information they typically receive first. Dictating updated information about an opportunity directly into a Vision record using your iPad isn’t all that far-fetched anymore. It can also be used for basic reporting to help the same people avoid stepping on each other’s toes with large clients. Distributed pipeline information in iAccess, built on Vision’s core foundation of clients and contacts, could give your business development team a great boost.

The Future of Deltek Vision Looks Like iAccess

If you’ve not heard of Deltek for Professional Services (DPS), the “reimagined” next iteration of the Vision platform, now’s the time to start thinking about when and how your transition will take place. While thinking ahead with your software vendor’s developing capabilities in mind is always a good idea, this transition is particularly important for Vision users. Many key characteristics of DPS are already present in Vision’s iAccess screens. With iAccess in Vision 7.6, you can start getting users comfortable with the browser-neutral and device-agnostic features that will eventually be pervasive throughout the DPS platform.

Not Quite Convinced Yet About iAccess?

Feeling a little uncomfortable with all this new stuff in the Deltek environment? Join me for some more discussion on iAccess and we’ll do our best to help you get there. We believe taking advantage of these capabilities will help you get the most value from your system and allow you to enhance your clients’ experiences with your firm!

iAccess for Deltek   

Topics: Building Business, Client Relationships, Marketing, Deltek Vision

Simplify Project Controls with Deltek iAccess for Vision

Posted by Rana Blair on Wed, Jan 03, 2018 @ 11:48 AM

Deltek iAccess for Project Management “Project Controls” are formidable words, ones that are necessary for successful project outcomes. Those of you who have used Deltek Vision for many years may recall that “project controls” remain at the core of the Vision system and are the datacenter for all other Vision applications such as billing, CRM, proposals, resource planning, and time and expense. Fortunately for Vision users, accessing project controls has gotten a lot easier with Deltek iAccess.

What are Project Controls? 

There is no industry jargon in the name project controls. They do exactly what the name implies. They allow you to manage and control your projects. Furthermore, a complete project control system such as Vision, allows users to: 

  • Document project attributes
  • Coordinate project activities
  • Track employee time and expense
  • Apply direct and overhead costs
  • Monitor project progress
  • Generate project reports
  • Maintain project budgets 

Controlling projects requires understanding and making decisions based on the information collected. This can be a challenge if data is not updated in a timely fashion or there is too much information to absorb. So, how can Vision users make these processes simpler? 

Enter Deltek iAccess for Project Management 

With the addition of iAccess for Deltek Vision, visibility into and ease of digesting information has enjoyed a renaissance. The iAccess interface allows firms to proactively manage and track projects from creation through closeout. The real-time connection to Vision, graphical views, and simple interactive tools for planning and managing the budget make quick work of understanding the status of the project. As a result, users can efficiently manage project future costs and review the expected outcomes. 

Gain Better Control of Your Projects with Deltek iAccess 

The ability to drive your projects with a full understanding of the past and predictions for the future is the ultimate control. With iAccess for Deltek Vision, this becomes possible. So, what are you waiting for? Take control of your projects, and extend the capabilities of Vision project controls with iAccess.iAcc

Topics: Deltek Vision, Project Management, Professional Services

Hot Service Offerings for Deltek Users in 2017

Posted by Amy Balassone on Wed, Dec 20, 2017 @ 10:00 AM

Deltek Logo2017 was a banner year for Deltek users with so many amazing new service offerings coming available. Each of these solutions was designed with users in mind to create a more streamlined business operation. From improved user interfaces to near instantaneous data transfers, Deltek users now have an array of options to get their work done faster and more efficiently.

Let’s take a look at these hot service offerings from 2017.

Deltek for Professional Services

Deltek for Professional Services (DPS) is the newest cloud-based professional services automation (PSA) enterprise software solution designed by Deltek and launched this year. DPS is based on Vision with an improved user interface like that of iAccess for Vision. Deltek for Professional Services integrates and automates your firm’s business processes allowing better control over your business and your projects. Designed to meet the needs of the A&E industry, DPS manages the project throughout the entire lifecycle including business development, project management, resource management, collaboration and financial management.

Deltek Talent

Deltek Talent helps businesses maximize their strongest and most distinctive resource, their people. It simplifies the entire employee lifecycle, enabling companies to seamlessly recruit, on–board, develop, compensate, and track their employees. Maximizing your Talent with Deltek Talent allows you to keep skills and competencies at the forefront of your strategy providing the competitive edge you need to stay ahead in the ongoing war for talent.  

Deltek Project Information Management

Deltek Project Information Management (PIM) provides project management and collaboration tools designed to help employees access critical project information to stay connected throughout the entire project lifecycle. With PIM you will avoid lost files and duplicate information saving hours of manpower. You can see all versions of the project documents, tag documents across multiple related locations, and review new designs and drawings instantly. Organized files across all aspects of business in one centralized location provides companies the intelligence to more effectively run their business.

Blackbox Connector

The Blackbox Connector is a no-code, low cost connector offering an interface between Deltek Vision and other third party business applications. With the Blackbox Connector, you will significantly reduce integration time and duplicate efforts in the entry and maintenance of data. The Blackbox Connector provides easy to implement solutions focused on connecting your Deltek Vision system to Concur, Client Feedback Tool, Constant Contact and Mail Chimp. Connectors for both HubSpot and Informer will be released soon. The Blackbox Connector eliminates data silos by providing a better and more formidable way to connect to Deltek Vision.

Do More with Deltek in 2018

Whether your firm is looking for ways to retain top talent or help to expedite completing expense reports, there is a solution for you. Are you ready to take advantage of these time saving services?

Reach Full Sail!

Topics: Deltek Vision, Technology Solutions, ERP

Year-End 2017 is Here!

Posted by Scott Gailhouse on Wed, Nov 22, 2017 @ 11:05 AM

Year-End Ready or not, here year-end comes. With some organization and planning, however, it doesn’t have to be stressful. Let’s look at some critical tasks your firm should complete as part of the year-end process.

Preparing to Close 2017

First off, the most important task is to document your year-end procedures. Not only those performed in your Deltek system, but all of them so that you have a comprehensive guide to refer to on a year to year basis. You should also create a calendar and develop a year-end checklist as part of your year-end procedures.

Some of the more common year-end tasks for most companies are:

  • Reconcile all cash accounts - Verify all transactions have been posted into Vision/DPS to ensure your general ledger balance matches your bank statements adjusting as required.
  • Final invoicing – Process all client invoices for the fiscal year.
  • Review outstanding accounts receivable - Follow up with clients who have outstanding accounts receivable beyond 30 days. Send past due statements and give them a call. Enter the results of your collection efforts in the comments section of Deltek Vision or Deltek for Professional Services (DPS) invoice review. Year-end is an excellent time to collect your outstanding receivables. If you determine there is uncollectable accounts receivable, be sure to write those invoices off.
  • Review unbilled detail - Time and expense transactions that cannot be invoiced to clients should be written off at this time.
  • Fixed assets – Fixed assets are larger purchases that are made throughout the year (i.e. equipment, automobiles, furniture, computers, etc.). Are all fixed assets reported on the balance sheet still owned? If not, record the sale or disposal of these fixed assets. Additionally, verify the depreciation on your fixed assets and make any necessary adjustments.
  • Employee expenses and accounts payable - Verify that all accounts payable vouchers have been recorded in Vision or DPS. Make your 401(k), SEP IRA, and simple IRA contributions, if you have not done so. Also, try to pay all your vendors and employee expense reports by year-end.
  • Notes payable - Verify notes payable (i.e. loans) amounts on your balance sheet match the statements from your lenders adjusting if necessary.
  • W-9s – Order 1099 forms and make sure all W-9s from your vendors and/or contractors that are paid $600 or more throughout the year are on file. Don’t forget, 1099s should be mailed on January 31st. 1099 forms can be purchased from most office supply stores or you can order them for free from the IRS (gov).
  • W-2s –If you run payroll in Vision or DPS, you’ll need to order W-2 forms which can be purchased from most office supply stores. W-2s should be mailed by January 31st.
  • Budget for next year - Create your general ledger budget for 2018.

As part of the year-end process, a new benefit year will need to be opened to roll over any PTO or vacation time into the next year and to start accruals for the new benefit year. 

Initialization Utilities in Deltek Vision and Deltek for Professional Services

There are numerous initialization utilities that need to be performed in Deltek Vision and DPS. Take note that these utilities need to be completed once per fiscal year. Vision and DPS will generate a posting log for the initialization utilities which is available in the transaction center under the posting review report. If your Vision or DPS database is set up with multi-company functionality, the initialization utilities need to run in each company. Make sure to watch this video for more information.

In Vision and DPS, opening the 1st period of your fiscal year also opens the new fiscal year. Depending on your security rights, you can still process in the prior fiscal year if needed.

Is Your Firm Ready for 2018?

Efficiently complete the tasks required for 2017 year-end, and you will be ready. If your firm is having any difficulties performing year-end tasks in Deltek Vision or DPS, Full Sail Partners can be of assistance! Also, remember to check out the new Deltek Customer Care portal for numerous resources available to you.

 Deltek Customer Care  

Topics: Accounting, Deltek Vision