Full Sail Partners Blog | Finance

Let’s be honest—AI is everywhere right now. And while that’s exciting, it can also be frustrating. Because when it comes to using AI tools to actually get real work done inside Deltek Vantagepoint, most firms are either just dabbling… or getting burned.

Here’s the thing: AI is only helpful if it’s reliable. Otherwise, it’s just a very confident tool giving you half-right answers.

I’ve been building AI applications since generative AI first exploded onto the scene. And now, as an AI Developer at Full Sail Partners, I’m taking that experience and putting it to work for project-based firms like yours. Whether it’s out-of-the-box tools like ChatGPT or custom-built AI inside Informer and Vantagepoint, the goal is simple: make your life easier, your insights faster, and your decisions better.

Let’s talk about how we actually make that happen.

Why Most AI Tools Fall Short

A lot of AI out there is like an enthusiastic intern on their first day—well-meaning but not quite ready to be left unsupervised.

You ask a vague question, and the AI gives you something that sounds useful… but it’s either way off base or completely made up. Yep, that’s a thing—AI hallucinations. And in the world of project financials, that’s a pretty big red flag.

Unreliable answers lead to wasted time. Bad data leads to bad decisions. And if you’ve got deadlines and KPIs on the line, that’s a risk you can’t afford.

The Two Core Principles That Make AI Reliable

In my work developing AI tools that play nicely with Vantagepoint, I’ve focused on two big ideas:

1. A Window into the Facts

Most AI tools give you an answer and then ask you to just… trust it. Not great.

Instead, we build AI that shows its work. When you ask a question, you don’t just get an answer—you get the data behind it. You can click to verify, dive deeper, and understand exactly how the AI came to that conclusion. It's like a GPS that tells you why it picked that route, not just where to go.

This is built directly into our Informer AI Assistant, which works inside Microsoft Teams and pulls data from Vantagepoint.

2. Reliability Training

Making AI trustworthy takes more than good intentions. It takes practice—and the right techniques. Here are three I use all the time (and you can too):

• One-Path Prompting: Ask one clear, specific question. No vagueness. No contradictions. Just a straight line from question to answer.
• Problem Expansion: Break big, complicated asks into smaller pieces. Think about how you’d delegate to a new employee—you wouldn’t say “solve all our issues.” You’d say “check this one report and flag anything unusual.”
• AI University (for developers): This one’s for the builders out there. Train your AI to be really good at one thing. Not everything. Just one thing, and let it do that extremely well.

By building these techniques into our AI tools, we make sure the end result is actually useful. So useful, in fact, that most users don’t even need to think about the tech behind it. It just works.

So, What Does This Look Like in Real Life?

Here’s an example: You’re in Microsoft Teams and you need to check whether a project is running over budget.

Instead of logging into Vantagepoint, clicking through dashboards, pulling reports, and second-guessing yourself—you send a single message to our AI assistant.

A few seconds later, you’ve got a clear, accurate answer, complete with the source data. Want to drill down further? One click and you’re in Informer, seeing the full picture.

No app-switching. No spreadsheet spelunking. Just one question, one answer, and a whole lot of time saved.

Why This Matters (to You, Right Now)

Whether you’re a PM, a marketer, or a firm executive, the common thread is this: you need good data, fast.

Reliable AI changes the game.
It helps you stop guessing.
It gives you time back.

And it turns your mountain of Vantagepoint data into real, usable insights—without you doing all the heavy lifting.

Want to See It for Yourself?

If this got your wheels turning, I’d love to show you more. I’m hosting a live webinar on Wednesday, May 14 at 1pm ET, where I’ll walk through exactly how we’re using these principles to build real, working AI tools for Vantagepoint.

We’ll look at both out-of-the-box tools you can start using today and custom-built solutions that can save your firm serious time and effort.

If you’ve been curious about AI—but skeptical—it’s the perfect session for you.

For accounting professionals, the AP voucher is the single source of truth for tracking supplier invoices. An AP voucher has information from a supplier like the firm amount that is due, terms for payment, signatures of authorized firm representatives, and more. Keeping this information up to date and correct is critical, however, errors and other changes do occur.

• Is there an invoice that was accidentally entered twice and one needs to be voided/reversed?
• Was tax, shipping or another amount missing on an invoice and now it is already posted?
• Was an invoice amount entered incorrectly and it needs to be corrected?

If this sounds familiar, it’s because these are all common issues that come up in the AP world. Typically, AP associates will enter a new voucher to correct these items and then reverse or add to/subtract from the value of an original invoice. By doing this, two vouchers are entered for the same invoice number, often by adding a letter or number to the original invoice number. When the invoice is paid, the associate needs to remember to select both vouchers to pay the entire correct amount of the invoice. In the case of a duplicate invoice, there isn’t a “void voucher” option like there is void check or void client invoices.

However, there is a better solution - utilize “Voucher Lookup” to edit an AP voucher easily & smoothly!

Using Deltek Vantagepoint AP Voucher Lookup

Once an AP Voucher is posted in Deltek Vantagepoint, it isn’t very evident that there is an option to edit the voucher. But there is! Voucher lookup is a great tool that is not as widely used as it should be.

When using AP Voucher lookup, Vantagepoint “attaches” the new voucher detail lines to the original voucher by utilizing the same voucher number and voucher header. When the corrected voucher is attached to the original there won’t be two vouchers for the same invoice to reconcile in vendor review or select in payment processing! As a result,

Examples of Deltek Vantagepoint AP Voucher Lookup:

Issue 1: Whoops! Two vouchers were entered for the same invoice and one of them needs to be reversed.

Solution: Enter a new AP transaction, use voucher lookup, and reverse the original lines. This AP entry will be linked or “attached” to the original voucher, not creating a new voucher but editing the original, making a zero-dollar total invoice. The steps are as follows:

1. Go to Transaction Center > Transaction Entry > AP Vouchers. Either start a new batch (if using batches) or a new transaction (if using single transaction posting).
2. Select the vendor. Don’t enter the rest of the header data!
3. Go to the top right under “Other Actions” and select “Voucher Lookup”.
   1. A list of the vouchers for this vendor will appear.
   2. Select the voucher for the invoice that needs to be edited.
   3. In the top of the list there is a search box that can be used to find an amount, voucher or invoice number and it will search for any matches from the existing vouchers.
4. Next, select the voucher that requires editing. The voucher header information will populate from the original voucher… this is where the linking comes in.
5. At this point, anything entered in the voucher details below will add to the original voucher line items. If the original entry had three lines and another is added, four lines will appear in the voucher review.
6. In this example, the duplicate voucher needs to be reversed entirely.
   1. To reverse lines, go back to “Other Actions”, select “Copy/Reverse Lines”.
   2. Check the box in the top header row to select all voucher detail lines.
   3. Click “Reverse All”.
   4. This selection will bring these lines into the voucher detail as a negative, using the same project coding. Which is simple, FAST, and does not require re-keying of line items!
      
      
7. Post voucher as usual.
8. In Voucher Review, the original line items and the additional line items entered during the Voucher Lookup will appear.
9. In this example, the overall voucher is now zero and the total lines in the voucher are 6.

Issue 2: Need to add an additional line for tax, shipping or other charges missed on original entry?

Solution: Do all steps from above except for step 6 - don’t use the Copy/Reverse function. Simply add the needed lines to the voucher detail in the Project Information grid. Any lines that are added will link/attach to the original voucher and add/subtract to the original voucher amount.

Issue 3: Need to correct an amount in the original voucher?

Solution: Do everything above, including Copy/Reversing Lines. It is suggested to reverse the line(s) that were entered incorrectly and then enter the correct amount so there is a good audit trail. After reversing the line(s) that were entered in error, add the correcting lines in the Project Information grid on the same voucher. Every line that is reversed and/or added will still link/attach to the original voucher and add/subtract to the original voucher amount.

Solve Common Accounting Challenges with Deltek Vantagepoint

Deltek Vantagepoint does more than making AP voucher corrections easy. Check out this webinar to learn about 15 Must-Know Features to Supercharge your Vantagepoint Efficiency, and make sure to explore all the free Vantagepoint content available on the Full Sail Partners’ website.

How to automate recurring tasks and keep your Deltek system running smoothly

When it comes to maintaining your Deltek Vantagepoint system, there’s one tool that quietly powers the background operations most firms rely on every day—the Process Server. It might not have the flashiest interface, but it’s one of the most powerful ways to ensure your system stays clean, efficient, and humming along without the need for constant manual intervention.

Whether you're scheduling large reports, generating batch invoices, or simply trying to avoid system slowdowns, the Process Server helps make all of this—and more—automated and reliable.

What is the Process Server?

The Process Server is Vantagepoint’s behind-the-scenes workhorse. It handles processing jobs that involve large amounts of data or time-intensive operations, sending them to the application server where they run in the background. This frees up users to continue working in Vantagepoint without interruption.

And thanks to its multi-threaded design, the Process Server can run multiple jobs simultaneously—so even when your firm is juggling numerous tasks, performance doesn’t take a hit.

Why It Matters: Automating the Maintenance Grind

System maintenance doesn’t have to be tedious. With the Process Server, many of those recurring tasks can be automated, scheduled, and prioritized, eliminating the need to manually initiate jobs like:

• Large report generation
• Revenue recognition and batch posting
• Overhead allocation
• Billing cycles and approvals
• Daily system clean-up tasks

You can schedule these jobs to run during off-hours—overnight or on weekends—minimizing system impact and maximizing productivity during your business day.

Your Tune-Up Toolkit: Key Queues to Know

The Process Server organizes its work through queues—each with a specific focus. Here’s how to put those queues to work for regular system upkeep:

1. Accounting Queue
Used for batch and interactive billing jobs—perfect for scheduling those large invoicing runs during non-peak hours.

2. Alert Queue
Handles alerts like timesheet reminders, budget milestone alerts, credit card activity alerts, and more. If users aren’t getting timely notifications, this queue is your starting point.

3. Approval Queue
Manages all approval processes, including timesheets, expenses, AP, and invoice approvals. This keeps your business moving without bottlenecks.

4. Exports and Integrations Queues
Essential for syncing data with third-party systems. Schedule your data refreshes or exports without ever logging in at midnight again.

5. Maintenance Queue
This is where the real cleanup magic happens. Jobs here include:

• Recreating audit triggers
• Deleting old archived reports
• Removing expired billing files
• Clearing outdated audit trails and email logs
• Eliminating orphaned sessions or notifications

Think of it as your ERP’s nightly cleaning crew.

Fine-Tuning with Queue Manager

The Queue Manager gives you full control of what’s happening in the Process Server. You can:

• View job statuses
• Filter by queue type
• Troubleshoot failed jobs
• Cancel, resubmit, or hold jobs
• Reset all system jobs if maintenance or alert jobs stop firing

That last point is a hidden gem: If alerts or system cleanups suddenly stop working, just hit the “Reset All System Jobs” button. It’s a simple fix that can save you hours of head-scratching.

Custom Queues & Priority Settings

Have a specific process you want to isolate? You can create custom queues—say, one just for reporting or a unique workflow specific to your firm. You can also assign queues to specific application servers to balance the load.

And don’t forget priority settings. You can assign priorities to queues (with 0 being the highest) and then control access by user role. For example, you might restrict high-priority queues to your accounting team, so project managers submitting large jobs don’t inadvertently delay time-sensitive billing processes.

Configurations That Keep Things Running Smoothly

You’ll find all of this under Settings > General > Process Servers in Vantagepoint. Here, you can:

• Set the number of days to retain job history and error logs
• Add additional process servers (for large firms)
• Monitor server usage and queue performance
• Create and manage custom queues
• Adjust the max concurrent jobs per queue

Just be mindful: keeping too much job history can clutter your database, so the recommended retention is no more than 90 days.

Smarter Maintenance = Less Stress

If you’ve ever stayed late to run reports or woke up wondering whether a critical workflow went through, the Process Server is here to rescue your peace of mind. Automating regular system tasks keeps your Vantagepoint environment clean, fast, and functional—so your team can focus on strategy, not spreadsheets.

Ready to give your ERP a tune-up?

Start by exploring your Process Server settings, reviewing your queues, and identifying what tasks can be automated. And if you want to see all this in action, be sure to check out our on-demand mini-demo linked below for a walkthrough of key features and best practices.

🚀 Smarter system. Less stress. Powered by Process Server.

Big changes are coming to Deltek Vantagepoint’s integration capabilities—but don’t worry, we’ve got you covered! If you rely on integrations using Deltek’s SOAP-based web services, it’s time to prepare for a transition to modern webhook and REST-based integrations.

What’s Changing?

Deltek has officially announced that its SOAP-based web service functionality will be deprecated by 2026. That means firms using these older integration methods will need to switch to webhooks and REST-based APIs to maintain seamless data flow and automation.

Why This Matters

For firms using integrations with Deltek Vantagepoint, this transition ensures:

• Improved Security – Webhooks provide a more secure way to transfer data.
• Faster Data Syncing – Say goodbye to delays—webhooks push updates in real time!
• Better Scalability – As your firm grows, webhooks make integrations more efficient and flexible.

How Full Sail Partners is Handling the Transition

We anticipated this change and have been proactively working on a seamless migration plan for all Blackbox Connector users. Here’s what to expect:

• Update Script Deployment – We’ll provide a script to enable webhook functionality in your Deltek system.
• Plenty of Time to Transition – The script will roll out in Q2/Q3 2025, ensuring ample time for testing and implementation.
• Hands-On Support – Our team will guide you through the process, ensuring that your integrations continue running smoothly.

What You Need to Do

Right now? Nothing! We’ll take care of the transition and provide detailed instructions as we approach the rollout.

If you have any questions about how this affects your firm, don’t hesitate to reach out to our team at [support@fullsailpartners.com].

Looking Ahead

The shift to webhooks is a step forward in modernizing integrations, and we’re excited about the benefits it will bring to your business. Full Sail Partners is here to make sure your workflows remain efficient, reliable, and future-proof.

Stay tuned for more updates, and rest easy knowing your integrations are in good hands!

When evaluating a CRM or ERP system, a critical component of the decision-making process is assessing the data migration effort. Beyond the software and consulting costs, data migration presents its own set of challenges and expenses. As organizations move to the latest ERP systems, such as Deltek or similar ones, understanding the migration process becomes key to ensuring a smooth transition.

So, when you're asking yourself, "Should I migrate my existing data to a new ERP system?", here are the 6 essential questions you should ask:

#1 How Valuable is the Data?

One of the first steps in the data migration process is to understand how valuable the data is to your current and future business operations. In today’s world of data-driven decision-making, your data is likely more valuable than ever.

With the rise of the latest software development, high-quality, accurate data has become a business asset. Data that isn’t frequently updated or no longer relevant might not be worth migrating. However, real-time data on sales, finance, and customer interactions should be prioritized. In some cases, you may need to archive historical data rather than fully migrate it.

When considering whether to bring data to the new system, consider these four questions:

1. Is the data frequently updated and is it accurate? 
2. How often is the data accessed/needed? 
3. Do you use the data in reports? 
4. Do you need the data to make business decisions?
5. If your answer to these questions is rare or never, then the data is probably not worth migrating to the new system.

#2 How Organized is the Data? 

Organized data is essential for smooth ERP migration. Data that isn’t structured properly or with inaccuracies will cause significant roadblocks during migration. ERP migrations should be focused on data cleanliness and consistency.

Some existing data that is being considered for migration may not be consistent across a given data field in a database record. For instance, inconsistencies in key fields (e.g., a phone number field containing text instead of numbers) will need to be corrected before data is moved. Migrating to any latest ERP system requires standardizing data fields to ensure compatibility.

So, evaluating the amount of manual clean-up required can help determine if the information is worth migrating. 

#3 How Long Would It Take Someone to Manually Enter the Data? 

One of the main concerns in an ERP migration is the sheer volume of data that needs to be transferred. As mentioned earlier, certain data is more efficiently entered manually into the new system. It is crucial to evaluate the effort versus the cost. Small data sets or data fields with only a few records may be better handled manually, but large-scale migrations benefit significantly from automation.

If a particular field contains only 50 data records, is it worth the cost of migrating it programmatically to the new system? On the flip side, underestimating the time and effort required for manual data entry can significantly extend the implementation timeline. Our experience has shown that when a firm opts out of a recommended data migration based on analysis, the success rate of the overall implementation tends to decrease substantially.

#4 Is A Conversion Utility Available for my Data?

In today’s ERP landscape, conversion utilities are often available to help automate and simplify the data migration process. These tools can significantly reduce costs and time, especially when migrating to popular ERP systems like Deltek. If a conversion utility is not available, working with a data migration expert who can create custom scripts may be necessary. Be sure you evaluate the cost of these custom tools before starting your migration process. 

#5 What is the Data Migration Vendor’s Migration Process? 

Selecting a vendor with a well-defined and proven migration methodology that addresses the preservation, security, and speed of migrating your business data is key to a successful ERP migration. As an example, below is Full Sail Partners’ migration methodology: 

1. Data Mapping/Assessment – This step involves defining the scope, outlining the migration strategy and approach, and establishing the desired timeline. A proposal will be provided, detailing the costs involved.
2. Data Cleansing – During the mapping phase, data that needs cleansing will be identified. The necessary data will be cleaned and organized in the current system to prepare it for migration. The data migration expert will also analyze the existing data and ask relevant questions to assess its quality. Improving the quality of source data in the current system enhances the success of automated data conversion.
3. Test Migration – Once the migration scripts are created and the data is verified with the client, a test database will be set up for review.
4. Migration Validation – After receiving the test database, the client will examine the data in the new system to confirm it has migrated as expected.
5. Final Migration – After the data is validated, a final migration date is scheduled. Typically, all data is backed up based on the timing of a firm's billing cycle or payroll cycle. The final migration is performed over a couple-day period. Once the final migration is complete and reconciled the system is ready for use, minimizing downtime between the old and new systems.
6. Post Migration – If any issues with the data are discovered after the final migration, occasional post-migration updates may be required to address those issues.

#6 How Experienced is the Migration Expert? 

ERP migrations are complex projects, and the expertise of the migration team can make or break the process. Experienced ERP consultants and migration specialists focus on data strategy and digital transformation.

Most data migrations require a mapping document. This defines the scope and ensures that the data will be imported correctly. An experienced data migration consultant provides this mapping document as well as valuable insight on potential issues that might occur during the data migration process. Before proceeding with data migration, it's important to understand the role and expertise of the data migration specialist within the firm.

Is their primary responsibility focused on data migration, or are they handling multiple tasks? Do they have experience migrating data like yours? A seasoned migration expert typically specializes in this area, dedicating most of their time to migration. Selecting the right expert is crucial, as it can minimize post-migration cleanup and ensure the data is accurately and efficiently transferred to the new system. be necessary. Be sure you evaluate the cost of these custom tools before starting your migration process. 

Data Migration Success Involves a Well-Thought-Out Plan

In many cases, migrating data is a must when implementing a new ERP system. However, by considering these 6 critical factors—data value, organization, manual entry requirements, available conversion utilities, vendor process, and expert experience—you can ensure a smoother transition and get the most out of your new system.

Data migration has evolved significantly over the years. Still, the key to success lies in a well-thought-out plan, comprehensive data assessments, and collaboration with experienced vendors and experts. If you're still unsure about your data migration process, then see how Full Sail Partners can help you with personalized migration strategies tailored to your specific needs by clicking the image below.

I believe we could all say, we question what gets put into the ‘snail mail’ these days. Especially if it is a sizeable check for your professional services firm. Will it arrive on time? Will it be lost? Will the check end up in the wrong hands? So many variables!

Not only are you concerned with the ability of the check to show up at its destination, but the timeline of when the payment will clear the bank. Sometimes this can take weeks, which might affect how fast you can reconcile your books. Add in the influx of employees working from home, and now you have even more concerns with printing the actual checks.

Accounts Payable (AP) as a manual process increases the likelihood of potential fraud and creates uncertainty, which could eventually affect your professional services firm’s cash flow. So how does a company simplify this process, alleviating the longer timeline and potential for discrepancies? You automate your Accounts Payable process!

Benefits of Automating Your AP Process

The AP process is one of the most important tasks a professional services firm performs daily. Automating it allows you visibility into every vendor payment easily to see its status, and an automated AP process can be fully integrated and streamlined to your preferences.

Although AP automation is not a recent technology, it has come a long way over the years. It is surprising that so many firms have not embraced this technology. Maybe it’s because they feel doing it manually will be more accurate, or they think their current process is efficient and cost-effective. So, let’s look at the benefits of automating the AP process and see if these preconceived notions have merit.

Going Paperless and Reducing Error

Accounts Payable is a paper-intensive process that requires printing, copying, storing, and retrieving paper. Additionally, manual processes are slow and are prone to human error rather than being more accurate as one may think. The paper-based process of printing and mailing checks can be transformed into a digital process of selecting, processing, and scheduling your electronic payments against your AP.

With AP automation, invoices are stored digitally, and paper, shipping costs, and manual entry are eliminated, saving money and ensuring accuracy, while also speeding up the entire payment process. Your increased visibility into payment status will also help simplify reconciliation and help to avoid duplicate entries.

Improving Employee Productivity

The AP process is a repetitive and time-consuming manual task. For instance, processing an invoice manually requires a person to copy information from an invoice and add it to the accounting books. There is no longer a need to manually reenter information for ACH payments or to recreate a physical check with automation.

When a professional services firm automates the AP process, employees are relieved of doing these tasks and can focus their efforts on more profitable pursuits. The opportunity for error is lessened and more time is available for your employees to be more productive in other areas of business.

Getting Insight into Your Firm’s Finances

It’s difficult to manage your professional services firm’s finances if you can’t see them. Solutions like spreadsheets or pen and paper hinder your firm’s ability to generate accurate financial reports. With automation, digital audit trails for all payments whether it be a physical check, credit card, or an ACH are available to ensure you clearly see what stage each of your payments is in.

You can immediately offset the liability and reconcile payments versus waiting for them to clear. Furthermore, being able to see who you owe money allows you to predict future firm spending and avoid late payment fees and penalties. With AP Automation, your firm’s financial picture is easily accessible and therefore manageable.

Gaining Control of the Procurement Process

Procurement policies are hard to enforce if you do not have a way to approve a purchase before it’s made. Using an automated AP solution allows firms to set up an approval process that ensures purchases are in compliance with firm policy. Professional services firms can gain control of their spending by knowing when a purchase is made prior to being issued an invoice which promotes transparency.

Automating AP is a Win-Win Situation for All

With actual reduction in errors, cost savings and a clear view of firm finances, the preconceived notions of not using AP automation are certainly without merit. And there’s even more benefit to automation. An automated AP solution allows vendors to submit invoices to a designated email address or webpage which reduces the risk of losing invoices.

With the opportunity for error decreasing and your employees' productivity increasing, it is a win-win situation for everyone involved. AP automation also ensures you pay your vendors on time, which makes them happier to work with your firm. Not sure if your firm is ready to automate?

Ensure the Success of Your Business by Utilizing Specialized Services

Staying competitive requires not only adopting the right systems and tools but also ensuring they have the right support structures in place. Whether a company is implementing a new software system, optimizing current processes, or managing its finances, specialized services like consulting, training, and outsourced accounting are essential to success. These services ensure businesses leverage their systems effectively, empower their teams, and optimize financial operations.

Each of these services plays a unique role, however, together they provide a comprehensive strategy for business growth and efficiency. Moreover, experts available from each area play different key roles in ensuring the success of your business. Let’s take a look at the difference between these three crucial services and see what they each offer your company and the overall benefit of utilizing them.

Consulting

At its core, consulting is about providing expert advice and strategies that align a company's systems with its specific business needs. Modern software systems — like Enterprise Resource Planning (ERP) platforms — are designed to help companies streamline processes, control data, and optimize workflows. However, even the most sophisticated systems are not a one-size-fits-all solution. Without proper setup and customization, these tools may fail to deliver their full potential. This is where consulting services come into play.

A qualified consultant can assess a company’s current processes, identify areas for improvement, and help configure the system to meet those specific needs. Consultants are not limited to the initial setup of systems; they are valuable at any stage of a company’s journey. From identifying new functionalities that address evolving needs to optimizing existing features, consultants offer an often-needed outside perspective and the specialized knowledge that can be critical to enhancing system performance.

For example, after implementing a new ERP system, a company might struggle with inefficiencies or underutilized features. A consultant can step in to reconfigure the system, ensuring that workflows are optimized for productivity. Additionally, they can offer guidance on how to leverage newer features as systems update over time. This proactive approach ensures that businesses stay ahead of the curve, continually optimizing their tools and processes in alignment with their goals.

Training

Having an up-to-date and properly configured system is only part of the equation. No matter how advanced a system is, it can only be as effective as the people using it. This is where training becomes critical. Training empowers staff to fully understand and utilize the systems at their disposal, ensuring that the company gets the maximum benefit from its investment.

Without proper training, even the most well-designed system can become underutilized or misused. Employees may only know the basics or might default to outdated methods, even when new, more efficient processes are available. A common issue occurs when staff fall into a routine of "this is how we do it here," becoming resistant to change and unaware of new features or improved processes that could significantly enhance their productivity.

A structured and continuous training program solves this problem. Regular training allows staff to stay current with new system updates, understand best practices, and adopt more efficient workflows. Additionally, as businesses grow and evolve, so do employee roles. Ongoing training can help newly promoted staff adjust to their expanded responsibilities, ensuring they understand how to fully utilize the system to meet the demands of their new positions.

Furthermore, training isn't just important for new hires. Existing staff also benefit from continuous education, especially when software systems release updates or new features. As trainers are experts in their own right, this specialized service empowers employees with the necessary skills to ensure the company remains competitive in a fast-paced business environment.

Outsourced Accounting

Finally, as with any business, accounting is a vital function. It's the backbone that ensures invoices are sent to clients, payments are made to employees and vendors, and management has access to accurate financial data for decision-making. However, maintaining an in-house accounting team can be costly and time-consuming, particularly for smaller firms. This is where outsourced accounting services provide a lot of value.

Outsourced accounting involves hiring an external team to handle various accounting tasks, either as a supplement to an internal team or as a full-service solution. This can range from day-to-day tasks like data entry, timesheet management, and expense reporting to more complex functions like bank reconciliation, project budgeting, and financial analysis.

One of the main advantages of outsourced accounting services is the consistency and expertise it brings. These services are performed by professionals with specialized training and experience often across multiple industries. As a result, companies benefit from tried-and-tested processes that help optimize financial operations and ensure compliance with the latest regulations.

Additionally, outsourcing provides flexibility. A company may not need a full-time in-house accounting team, especially during periods of low activity. By outsourcing, businesses can scale their accounting needs up or down based on demand, ensuring cost efficiency. For example, a business might require additional accounting support during tax season or when undergoing rapid growth. Outsourced accounting services can step in to fill these gaps, ensuring financial operations run smoothly without burdening the in-house team.

Moreover, outsourcing allows management to focus on core business activities rather than having to deal with the complexities of accounting. Using this specialized service provides a reliable team to handle the finances, so companies can concentrate on growing their business, confident that their financial operations are being managed by experts.

A Holistic Approach to Business Success

Incorporating these unique and specialized services into your business strategy can significantly improve efficiency, productivity, and therefore, overall success. Consulting services ensure that your ERP or other business systems are set up in alignment with your company’s specific goals and processes. Training empowers your team to use these systems to their full potential, ensuring that your investment in technology is fully realized. Outsourced accounting provides expert financial support, filling in gaps and ensuring that your company’s financial operations run smoothly and efficiently.

Whether your company is just starting out or looking to refine its existing operations, investing in these specialized services can help. By utilizing these services, businesses can streamline operations, reduce costs, and achieve their objectives more effectively. Take advantage of these services and position yourself for long-term success.

In recent years, many companies have been looking to streamline operations, increase efficiency, and reduce costs. One area where businesses of all sizes can significantly benefit is through outsourcing their accounting functions. But is outsourcing right for your firm? Let’s explore the various types of businesses that should consider using outsourced accounting services and talk about why outsourcing may be a great option for them.

Startups and Small Businesses

Startups and small businesses often operate on tight budgets and with limited resources. Hiring an in-house accounting team can be costly, both in terms of salaries and benefits and in the time it takes to train and manage staff. For many small businesses with only a few initial employees, outsourcing the firm’s accounting needs offers a way to access high-quality financial expertise without the need for full-time hires. For startups and small businesses, the cost savings alone would be a key reason to outsource. Without the worry of salary, benefits, and training expenses, these types of firms could get the expertise they need with access to professional accountants who understand the firm’s specific needs. Furthermore, outsourcing accounting offers scalability where your firm could easily scale up or down based on your business’s growth or change over time. For startups, in particular, the financial landscape can be unpredictable. Having an outsourced accounting team means you get expert guidance without the overhead of maintaining an internal team. This allows your leadership team to focus on what is important, the mission and building the company.

Growing Businesses

This brings us to the next type of company that could benefit from outsourced accounting services, growing businesses. As businesses grow, their financial needs become more complex. Companies entering new markets, expanding service offerings, or increasing their customer base need robust financial management to handle everything from payroll to cash flow forecasting and tax compliance.

There are several different reasons that growing businesses would benefit from using an outsourced accounting team. Foremost, outsourced accounting services offer stability, ensuring that your financial operations continue without interruption, regardless of employee turnover in your internal team. Next, outsourced accounting teams stay up-to-date on the latest accounting software and financial tools, ensuring your business benefits from modern, efficient processes. Finally, outsourced accounting teams are already equipped with the skills and systems knowledge needed to handle your financial operations, eliminating the need for internal training programs.

Professional Services Firms

Another type of company that could benefit from outsourced accounting services is the professional services firm. Consulting firms, marketing agencies, law firms, and other professional services providers often have variable billing cycles and unique accounting needs. These firms typically bill by the hour or project, making cash flow management and profitability tracking essential.

In the case of professional services firms, streamlined billing, and invoicing are critical needs. Using outsourced accounting services can ensure accurate tracking of billable hours, invoices, and expenses. Moreover, outsourced accounting teams can focus on cash flow optimization. They can help you manage uneven cash flows while keeping you compliant with tax and regulatory requirements. Another crucial need for professional services firms is real-time reporting. With outsourced accounting services, these types of firms can get insights into financial performance that will aid in decision-making, without the burden of managing a full-time accounting department.

Firms Facing Rapid Technological Change

Outsourced accounting services can also be beneficial for businesses experiencing rapid technological change. For firms such as those in the tech industry or digital startups, the pace of growth can overwhelm internal teams. Keeping up with the latest accounting software, compliance regulations, and financial best practices can be a full-time job in itself.

So, outsourcing in these situations can make a lot of sense. First, using outsourced accounting services, these types of firms could get access to the latest tech. Outsourced accounting teams stay updated with the newest accounting software, automation tools, and best practices, ensuring these businesses remain at the cutting edge.

These types of firms can also benefit from strategic financial planning. With access to experienced CFOs and financial strategists, businesses can make data-driven decisions to guide their growth. Finally, with outsourcing the accounting functions, there can be a dedicated focus on innovation. With the financial side handled by experts, your internal team can focus on innovation and product development.

Outsourced Accounting Awaits

No matter the type of company, outsourcing accounting functions can offer significant benefits, from cost savings and scalability to accessing specialized expertise. Whether you’re a small startup, a growing business, or an international firm, outsourcing provides the flexibility and support you need to manage your financials efficiently. By allowing experts to handle the complexities of accounting, you can focus on what you do best, growing and innovating your business.

So, do you think outsourced accounting is right for your business? Assistance is available to start an evaluation of your current needs and weigh the benefits of external expertise. You might just find that it’s the missing piece to help you streamline operations and scale efficiently.

At Full Sail Partners, we understand the intricate demands of running a successful business. And a major part of running a successful business is managing your financials with precision, accuracy, and efficiency. To help you achieve this key component to sustained growth, Full Sail Partners offers a full-service accounting practice that is tailored to your professional services firm’s unique needs. So, let’s discuss the first steps and then take a comprehensive look at the outsourced accounting services Full Sail Partners provides to ensure your business stays on course.

First Steps

Our team of highly skilled bookkeepers and accountants will evaluate your current systems and processes by way of navigational analysis. By reviewing your professional services firm’s standard operating procedures, not only are we able to get a better understanding of what your unique needs may be, but we are also able to provide ways of streamlining systems and offer possible solutions to outdated workflows. We can then work together to create a customized schedule of services that will help lead to improved financial management and greater efficiency within your professional services firm.

Outsourced Accounting Services Offered

Centralized Communication & Information Exchange

Full Sail Partners maintains a dedicated MS Teams site and email address to facilitate safe and secure communication and information exchange. Whether it's sensitive bank deposit information, EFT/ACH files, AP Vouchers or Disbursements, project revisions, or invoicing, simply forward all relevant communications to your safe and secure client-specific email. Our team will manage these items in an efficient and timely manner.

Deltek Info Center/Hub Maintenance

Our Info Center (Vision)/Hub (Vantagepoint) maintenance services keep your professional services firm's critical information up to date and organized.

• Firms (Contacts, Clients, and Vendor Records): We can revise or create new firms, ensuring that all details such as contact/client/vendor names, numbers, addresses, and any additional contact information you may need are accurate.
• Employees: From adding new hires to managing job cost rates, banking, and termination details, we can handle all employee-related data.
• Projects: We can manage the setup of new projects based upon signed agreements, or revision of existing projects with change orders - including contract information, billing terms, and status updates.
• Accounts & Account Group Tables: We can create and maintain General Ledger Accounts and Account Group tables, ensuring accurate GL tracking and reporting.

Timesheet Management

We can ensure prompt and accurate timesheet postings, providing detailed labor reports by employee and Month to Date/Year to Date utilization reports, all in accordance with your submission policies (weekly, biweekly, semimonthly, or monthly).

Expense Report Processing

Our Expense Report services include payment review, posting, processing, and EFT/ACH file creation for seamless online banking upload. Detailed employee ledger reports can be provided upon request.

Accounts Payable Management

Our Accounts Payable services cover voucher and disbursement entry, scheduled AR Ledger reporting, cash requirements tracking, and paper and electronic payment processing. We can provide EFT/ACH file creation and posting of check payments allowing the client to print checks in-office.

Accounts Receivable Management

We can manage daily cash receipt posting (including paper, credit card, and ACH) as well as client invoice adjustments as necessary. Rate Table maintenance is also available to ensure accurate project reporting.

Invoicing/Billing Management

We manage monthly invoicing in alignment with each project’s contract terms and specific Project Manager requirements.

Employee Benefit Accrual

We can manage payroll entry in accordance with your firm’s payroll schedule (bi-weekly, monthly, specific date(s), etc.) as well as manage employee benefit accruals in accordance with your company policies. We are also able to handle the annual opening of new benefit years.

Month End Processing

Our month-end services include journal entries, bank and credit card reconciliation, and financial report generation such as balance sheets, income statements, and detailed General Ledger reports. We can also manage the opening and closing of accounting periods.

Project & Project Management Reporting

We are able to provide comprehensive project management reporting, including weekly project details, earnings reports, and unbilled detail reports to keep your projects financially on track.

Year End Processing

Our year-end services include 1099 initialization, the opening of new benefit years, and generating 1099 PDF files to be printed, mailed, and filed with the IRS by your firm.

Specialized Services

We additionally offer specialized services such as revenue generation, salary job cost adjustments, and overhead allocation to enhance the accuracy and efficiency of your financial operations.

Ready to Improve your Professional Services Firm’s Financial Management?

At Full Sail Partners, we are committed to providing a complete suite of accounting services tailored to your business needs. Our team undergoes regular and extensive training, including Deltek Pros certification, ensuring that your financial operations are managed with precision and care. This allows you to focus on what you do best - growing your business. Let us help you navigate the complexities of financial management, so you can sail smoothly towards success.

Have you ever found your professional services firm in the position of losing your in-house bookkeeper suddenly either permanently or temporarily? This could be the result of the birth of a child, other health issues, or the employee taking another opportunity in another field or firm. Whether temporary or permanent, this can throw your accounting cycle into turmoil. Often this person is the only employee who knows the financial accounting system of your firm and it leaves a huge void in the accounting side of your business.

Or perhaps you are a small firm that does not need a full-time accountant to process your transactions, but you want to leverage the power of your ERP and need a cost-efficient option. You just need a solution that would allow you to access trained bookkeepers and/or accountants without the need to commit to a full-time salary.

There is an increasing trend for outsourced accounting services that recognizes the strategic importance of consistent management of accounting practices for business of all sizes and at all levels of the process. Moreover, professional services firms today are seeing the benefits of an outsourced accounting firm to gain an advantage of scalable growth. Outsourcing your accounting tasks ensures that your business needs are met, even during times of absence or turnover, or if you simply have reduced needs.

Benefits of Full Sail Partners’ Outsourced Accounting Services

Full Sail Partners has received requests from our Deltek Vision and Vantagepoint clients throughout the years asking if we provide accounting services. We have heard the requests of our clients, recognized the needs, and answered with an outsourced accounting service of our own specializing in Deltek Vision and Vantagepoint.

Expertise and Experience

There are several advantages to using our outside accounting services. The first of which is expertise and experience. Full Sail Partners employs a team of highly qualified and professional bookkeepers and accountants who are trained specifically on Deltek Vision and Vantagepoint. We invest regularly in training to help our staff stay updated on the lates best practices, ensuring a firm's records are accurate and compliant.

Cost Savings Through Time Efficiency

Utilizing Full Sail Partners’ outside bookkeeping service also provides substantial cost savings to your professional services firm. Hiring and training an in-house accounting team is expensive when you take into account salaries, benefits, training and overhead costs. Using Full Sail Partners for your bookkeeping tasks allows your employees to focus on their individual business specialty and relieves them of the time spent on financial activities. They can concentrate on what they do best, which is running and growing your business.

Scalability

As your business grows, Full Sail Partners can scale up to your more complex needs without having to hire and train additional in-house staff. We also offer a scalable option from full service-transaction entry to timesheet posting to billing to reporting. You can also choose reduced services designed to fill gaps or augment your in-house staff.

Advanced Technology

Our firm can also provide an unbiased perspective on your financial processes, offering valuable insights and advice. Our accounting staff at Full Sail Partners is backed by a highly trained consulting team. We have access to the latest accounting technology and upgrades associated with Deltek Vision and Vantagepoint which will improve the efficiency and accuracy of your financial processes. We have often reviewed processes with our clients and suggested a consultative navigational analysis that reduces or eliminates the need for our augmented services.

Support Goes Beyond Outsourced Accounting Services

Full Sail Partners' outsourced accounting services can provide reduced or full-service accounting services scaled to your individual needs. However, our staff could never replace the highly skilled training services of our consulting team. We work closely with our team to make sure our staff is fully up to date on current practices, but our team does not offer training to a client's staff. If you find that your professional services firm would like to use our services for the augmentation of your current team's skills, we can provide the support you need.

If you would like to upgrade the skills of current employees or train new staff on Deltek Vision or Vantagepoint, we can connect you with one of our excellent consultants that will review your current system and team skills. Once they determine the level and areas of need, they will provide you with a detailed scope of services to provide your staff with on-site or off-site training.

Improve Your Professional Services Firm’s Financial Management

Outsourcing your accounting and bookkeeping services can lead to improved financial management and greater efficiency while seeing significant cost savings from reducing full-time accounting overhead or supplementally augmenting an in-house accounting team. By leveraging the expertise, technology and scalability of our Full Sail Partners’ Outsourced Accounting Services, you can position your business for long-term success without interruptions due to unforeseen personnel changes.