Full Sail Partners Blog | Finance (2)

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.

Deltek Vantagepoint is a project-based ERP system. This makes it unique in that it is intended to not only track overall firm revenue and expenses, but also the revenue and expenses of many separate components, or the projects, that contribute to the overall profitability of the firm. Vantagepoint offers several ways to help identify which projects are contributing to, and which are detracting from a professional services firm’s profitability. Let’s explore a few of them. 

Linked Promotional Projects

Can you easily see if a project with a $5,000 fee took your team $5,000 worth of time and expenses to win it? Deltek Vantagepoint offers the means to do so by using promotional projects. In the stages of the project lifecycle, when your professional services firm is pursuing new work, use linked promotional projects to track the time and expenses the pursuits require. This can help you calculate the return on investment (ROI) of your marketing spend.

Consider setting a budget for your promo projects to show staff that the expected maximum level of pursuit spend is dependent on the size of the project. To set the budget, you may want to think about the typical maximum that should be spent to win $1 of chargeable work and multiply that by the labor fee your firm is expecting if the project is awarded. Using linked promo projects can help you analyze the costs of pursuits, as well as the “all-in” cost of the job compared to the fee you were awarded. Analyze the data and perhaps you will find certain types of projects or certain clients are boosting or dragging down your overall profitability.

Contract Management

If your professional services firm struggles with tracking contract documents for projects, look to the contract management area for help! Making sure you have the signed agreements, and that you have them in time for billing, is crucial for efficiency and cash flow. The contract management area lets you customize the list of contract types and statuses and track the dates that contracts were sent and received. You can easily report on missing contracts to see where follow-up is needed. Unpaid invoices and the inability to bill for work due to missing contracts will negatively impact the bottom line!

Project Planning and Resource Management

Have you seen the latest project planning tools in Deltek Vantagepoint? Project Planning allows you to add generic or named resources to a project and schedule hours throughout the project schedule. A plan can be started at the time the in-pursuit project is added to Vantagepoint, and updated as the project scope and fee are developed. Planning can help build more accurate estimates for proposals and also serve as a communication tool during project hand-off from sales to the project manager.

After the project is awarded, updating the plan frequently can immediately show pinch points in budgets and schedules. By continually updating the number of hours each resource will need based on work completed and project progress, you can see, for example, if you need to scale back the effort to better match the scope or if a schedule slip is going to cause the need for a change order. Plan updates may also help identify earlier on the issues caused by scope creep and allow you to more easily negotiate change orders to cover costs not originally included in the fee.

Resource Management takes the project planning data and “flips it” to present it by person as opposed to by project. Being able to quickly identify staff that is consistently over-scheduled, which can lead to resignation and cause expensive turnover costs, and then reassign work to under-utilized staff will help keep firm chargeability on track. In the consulting industry, chargeability drives profits!

Accurate Time and Expense Tracking

Analysis of project profitability relies on accurate time and expense tracking. Make sure employee cost rates whether it is a true payroll cost, or a blended cost rate, are recorded correctly in Deltek Vantagepoint. Check out resources like the Deltek Clarity survey to make sure your professional services firm’s billing rates are in line with industry standards, while also taking into consideration factors such as your client base and your geographical location.

Encourage employees to carefully record all time and expenses to the projects they are working on, even if it might cause the project to go over budget. If over-budget costs are “buried” in marketing and overhead, can you ever truly analyze the profitability of each project? Additionally, if your firm performs similar work across your client base and uses past projects as a starting point to budget new projects, you will consistently lose money if project costs are not accurate.

Project Review/Reporting/Dashboards to Compare Budgets and Actuals, and View AR Info

Deltek Vantagepoint offers many tools to help you analyze profitability. The Project Review area, in addition to the project plan, provides a convenient snapshot of project budget versus actuals. Train your project managers to look at project review and their project plans frequently to stay “in the know” about their projects.

Project Reporting shows everything from labor and expense charges by date, to revenue and projected profit. Determine what is important to your professional services firm, build reports that reflect it, save them for your project manager roles to implement consistency across PMs, and train them on what they are seeing. Remember, in the A/E industry most project managers are engineers or architects by nature, so don’t be remiss in assuming they know how to analyze the financial aspects of the projects!

Leverage the dashboard capabilities in Vantagepoint as well, to bring critical project data front and center. Take a look at the project manager dashboards that come with the system or build a dashboard that reflects the project information your firm wants PMs to focus on. By using a combination of charts, graphs, tables, and reports in your dashboard you can help PMs with different preferences for consuming the project data.

Deltek Vantagepoint Ensures Firm Profitability

As you can see, Deltek Vantagepoint offers many ways to help your professional services firm track and analyze project-related data. By using a combination of these options, your firm can more easily see which projects are helping and which may be hurting your overall profitability. By keeping your eye on the profits, you can make more informed business decisions that will help your firm outperform the competition.

Curious to see what else Deltek Vantagepoint can offer you? Explore the full potential of Vantagepoint here!

Data entry can often be a tedious and error-prone task, especially when dealing with large volumes of information. Convincing IT to upload data into software systems can be challenging and time-consuming. Fortunately, for users of Deltek Vantagepoint, there's a more efficient solution: Data Imports. This feature, accessible from the Utilities menu, offers an intuitive interface for importing large amounts of Hub or transactional data while adhering to Vantagepoint's business rules for data entry.

Simplified Data Import Process for New Clients

For new Deltek Vantagepoint clients, the Data Import module provides a streamlined method for transferring information from previous systems. Whether you're migrating data from FoxPro, Oracle, or any other system capable of exporting data into an Excel or CSV file, Vantagepoint makes the transition smooth.

For example, if your accounting information resides in one system and project information in another, Vantagepoint's Data Imports are designed to handle this seamlessly. General ledger details and table information are uploaded separately, simplifying the process. With a basic understanding of Vantagepoint’s software configuration, preparing data files for import is straightforward and requires minimal training. This ease of use can significantly reduce the time and effort involved in migrating to a new system.

Enhancing Efficiency for Existing Clients

Existing Deltek Vantagepoint customers can also benefit from the Data Import module by adding new data to their current Vantagepoint instance or modifying existing information. For instance, if a firm is integrating new functionality that was previously unused, existing hub fields can be updated with data from an Excel file. Vantagepoint ensures that the imported data complies with business rules through a validation procedure, preventing any non-compliant data from being uploaded.

Moreover, transactional data can be uploaded into Vantagepoint via the Data Import module. Many clients utilize external applications to gather the information that must be uploaded into Vantagepoint. For example, subconsultants might use different systems to collect time or expense data, which then needs to be integrated into the Vantagepoint system. Instead of manual data entry, a CSV file can be used to upload this information. Vantagepoint verifies that the data adheres to business rules before it is posted in the Transaction Center.

Key Information About Deltek Vantagepoint Data Import

Whether uploading new data or amending existing records, the import process in Vantagepoint follows a consistent procedure. Currently, the data import functionality is split between Vantagepoint’s web app and the desktop app, with plans to eventually consolidate these functions. Users need to know where to go for each type of import. The web app supports importing data for Employees, Employee-related tables, Clients, Contacts, Generic Resources, and lists. Other imports, such as Projects, General Ledger, and transactional data, are handled via the desktop application.

To ensure successful data import, it is crucial to align the import data with Vantagepoint’s data structure. Data mapping should be performed prior to system validation. Once the fields that need to be mapped are identified, they should be matched with corresponding data in the import file. After mapping, selecting “Import” initiates the validation procedure. Any errors will be reported in a file and will not be imported. The import data can be validated multiple times to ensure accuracy before finalizing the import into the Vantagepoint instance.

Modern Advancements in Deltek Vantagepoint

Deltek Vantagepoint continues to evolve, incorporating advanced features to enhance user experience and efficiency. Recent updates include improved integration capabilities with other software systems, advanced analytics for better decision-making, and enhanced user interfaces for a more intuitive experience. Additionally, Vantagepoint's cloud-based platform ensures that users have access to the latest features and updates without the need for extensive IT involvement.

The Data Import module now supports more sophisticated data validation and error-checking mechanisms, reducing the risk of data inconsistencies and ensuring compliance with business rules. The integration of artificial intelligence (AI) and machine learning (ML) algorithms helps in identifying patterns and anomalies in data, providing users with actionable insights and predictive analytics.

Practical Tips for Mastering Data Imports

Data Import in the Vantagepoint application does not require extensive knowledge of databases or programming. However, practice and perseverance are key to mastering this tool. Full Sail Partners recommends practicing on a test database when learning to use the import feature. This approach allows users to familiarize themselves with the process without the risk of affecting live data.

For additional support, Full Sail Partners offers comprehensive training on the Data Import module. This training covers everything from basic data preparation and mapping to advanced troubleshooting techniques. By leveraging Full Sail Partners’ expertise, users can gain confidence in their ability to efficiently manage data imports, ensuring smooth and accurate data integration.

Data Imports Feature Ensures Efficiency for Vantagepoint Users

Deltek Vantagepoint's Data Import module is a powerful tool that simplifies the process of uploading and managing large volumes of data. Whether you are a new client migrating from a different system or an existing client looking to enhance your data management capabilities, the Data Import module offers a robust solution. With its user-friendly interface, comprehensive validation procedures, and continuous advancements, Vantagepoint ensures that your data entry process is efficient, accurate, and aligned with your business needs.

For more detailed guidance and training on using Deltek Vantagepoint’s Data Import module, consider reaching out to Full Sail Partners. Their team’s expertise can help you maximize the potential of Vantagepoint, enabling you to achieve next-level productivity and efficiency in your data management processes.

This year’s Annual Deltek Clarity Architecture & Engineering (A&E) Study delves into how firms are navigating challenges to boost their operations and drive progress. It takes a close look at the evolving dynamics of labor costs, the strategic shifts in where firms are investing their resources, and the innovative financial approaches they’re adopting. Let's examine these findings to understand how they’re shaping the future landscape of the A&E industry and what they mean for firms aiming to thrive in this changing environment.

Top Financial Challenges

This year’s top financial challenges for A&E firms mainly centered around finding and retaining qualified staff, increasing profitability, and managing succession planning and ownership transitions. These issues remained mostly consistent with last year's challenges, though managing growth saw a slight decline in importance, dropping from 46% to 38%, thus moving it out of the top three challenges.

Retaining qualified staff, while still the foremost challenge, saw a reduction in the number of firms ranking it as their primary concern, decreasing from 65% to 59%. The focus on boosting profitability gained prominence, with a 9% increase to 54%, reflecting its rising priority among firms.

Meanwhile, the importance of enhancing project leaders' financial knowledge also diminished, indicating a shift in strategic focus towards more immediate financial pressures and long-term organizational sustainability.

Stability in Labor Costs

In 2023, total labor costs per employee among A&E firms showed remarkable stability, with only a modest increase of $345. This slight uptick reflects adjustments in labor-related expenses and inflation, aligning with the changes in firms' headcount levels from the previous year. Notably, the impact varied significantly across firm sizes with:

• Small firms experiencing the most substantial increase, with labor costs rising by over $3,000 per employee.
• Large firms seeing a dramatic increase of more than $9,000 compared to 2022.
• Medium-sized firms remaining relatively stable, with minimal changes in labor costs or employee numbers.

These variations underscore the nuanced approaches A&E firms are taking to manage labor costs while maintaining competitive compensation structures.

Marginal Increases in Gross Wages per FTE

Gross wages per full-time equivalent (FTE) is calculated by dividing the total labor expenses by the current number of full-time employees. This number remained relatively stable this past year, registering a marginal increase of less than one percent compared to the previous year. This contrasts with the notable five percent surge observed in 2022. Key segments such as high performers, small firms, large firms, and engineering firms experienced slight increases in gross wages per FTE, highlighting the importance of tailored compensation strategies to retain and engage staff.

Understanding these wage trends is crucial for firms to ensure that labor cost increases are effectively balanced by topline revenue growth, thereby improving labor multiplier metrics.

Shifts in Asset Investments

The study reveals a significant shift in firms' asset investment strategies. Net fixed assets per employee decreased by six percent, indicating a strategic move away from traditional fixed asset investments like infrastructure, hardware, and software. Instead, firms are increasingly allocating resources toward on-demand operational expenses for software and technology solutions. This shift is particularly evident in:

• Large firms and architecture firms reported significant declines in net fixed assets per employee.
• High-performing firms and engineering firms which maintained stability or showed slight improvements.

This trend reflects firms' adaptation to changing market demands and their focus on leveraging new tools to enhance competitiveness and drive growth.

Current Ratio: A Mixed Bag

The overall current ratio can be found by dividing current assets by current liabilities. A&E firms saw a slight decline in this, decreasing by 0.18 points. This decrease suggests firms' increased efficiency in managing current assets and liabilities, possibly by accelerating accounts receivable collections. Notably:

• High performers, medium-sized firms, and engineering firms experienced the most noticeable declines in current ratio.
• Small and large firms reported increases, indicating diverse strategies across different firm sizes.

Despite these variations, the current ratio decline does not necessarily translate into reduced liquidity but rather reflects strategic management decisions aimed at optimizing operational efficiency.

Debt-to-Equity Ratio: A Slight Increase

The median debt-to-equity (D/E) ratio is determined by dividing total liabilities by stockholders’ equity. This ratio rose slightly from 0.61 to 0.66 in 2023. This increase suggests that firms continue to leverage debt strategically to achieve higher returns. High performers, medium-sized firms, large firms, and both A&E sectors reflected this overall trend. This cautious yet confident approach to financial management positions helps firms navigate current economic challenges.

A Decline in Return on Equity

Found by dividing pre-tax income by stockholders’ equity, and then multiplying it by 100, the overall return on equity (ROE) for A&E firms declined by 4.5 percentage points to 19.1% in 2023. This decline was the most pronounced among small, medium-sized, and architecture firms, which faced challenges in generating profit growth commensurate with gains in shareholders' equity. In contrast, high performers, large firms, and engineering firms reported flat or improved ROE relative to the previous year.

Increased Focus on Firm Valuations

An interesting trend identified in the study is the increased focus on firm valuations. More firms (up by 1.5 percentage points) completed firm valuations within the past two years, with large firms and engineering firms showing the most significant increases. Additionally, 52.6% of firms without a recent valuation plan to complete one within the next 12 months, up by 3.2 percentage points. This trend underscores the growing importance of firm valuations in the context of merger and acquisition activities, strategic positioning, and financial health management.

Top Financial Initiatives

A&E firms have identified several key financial initiatives to address their greatest challenges over the next three years:

• Training project managers on financial management (+3 points): This initiative reflects a shift towards enhancing project management capabilities to optimize operational efficiency.
• Business process improvements (steady): Emphasizing streamlining processes to improve overall efficiency.
• Better forecasting (+7 points): Highlighting the importance of financial planning and resource allocation to navigate market uncertainties.

Other notable initiatives include better management of growth, organizational changes, and increasing spending on talent acquisition and retention, although these saw declines compared to the previous year.

More To Look Forward To

The 45th Annual Deltek Clarity Study provides valuable insights into the financial trends and challenges faced by A&E firms in 2023. As firms navigate a complex economic landscape, strategic management of labor costs, asset investments, and financial metrics become crucial to sustaining profitability and securing long-term growth. By focusing on tailored compensation strategies, leveraging new technology solutions, and enhancing financial acumen, A&E firms can better position themselves to thrive in an evolving market.

With Vantagepoint Multicurrency, transactions like employee expenses or accounts payable vouchers can be entered in any selected currency regardless of the company’s functional currency. Your firm can provide invoices to clients in foreign currencies as well. In a multicompany database, any company in the enterprise can be maintained in any currency. Deltek Vantagepoint holds the key to simplifying this process for your firm.

Vantagepoint Multicurrency allows you to:

• Manage multiple currencies for transactions, accounting, and financial reporting
• Enter and manage exchange rates, which can be done manually or can be automated to update daily exchange rates using an auto-feed subscription provided by XE.com.
• Support daily, period, and period-end exchange rate changes
• Revalue foreign currency accounts and automatically identify realized and unrealized gains or losses due to currency fluctuations

Considerations when Using Deltek Vantagepoint Multicurrency

With any changes to your standard accounting practices, there are always some items that need to be taken into consideration:

Revenue Considerations: Revenue generation will now use the billing currency fields in the project hub.

Project Considerations: Once you set a project’s currency and the project has transactions posted to it, the currency code cannot be changed on the project. It is very important to set the project to the correct currency upon initial setup. All lower levels of the work breakdown structure (WBS) will follow the currency codes set at the project level. A project’s currency can be set up to manage the project in one currency and a different billing currency can be used to invoice your client.

General Ledger Account Considerations: In Vantagepoint Multicurrency accounts can be left without a specific currency or set to a single currency. For example, a company with a functional currency of USD may have a checking account in Canadian dollars (CAD). In this example, the chart of account numbers associated with the Canadian Bank Code would need to be set up with a currency code of CAD. Once an account is set up in a currency that is different than the functional currency of the company, it is then considered a foreign-denominated account and will be included in the revaluation process.

Unit Considerations: You must specify both a project and billing currency.

Vendor Considerations: Vendor records are stored in the functional currency of the active company. There are several details to note for vendor records:

• Functional Currency – the home currency or the currency in which the company operates
• Transactional Currency – the currency in which a transaction is entered into Vantagepoint
• Presentation Currency - used in reporting to generate a report with all amounts expressed in a single currency
• Billing Currency - the currency used to generate invoices and billing reports for specific projects and their WBS
• Project Currency – the currency in which the project is managed which can be different than the functional currency when needed (this currency should be used for all project management purposes including reporting)
• Payment Currency – the currency in which the payments are made
• Consolidated Reporting Currency – only available in a Multicompany environment and is used to create consolidated financial statements for multiple companies that are using different functional currencies currency directly through the account setup of the GL (if you specify an account currency that is different from the company’s functional currency, the account is then considered a foreign-denominated account)
• Account Currencies – each account set for use as a bank account and mapped to a GL code can be set to a specific
• Tax Currency – if tax auditing is enabled then a currency must be set for each tax code (this is generally the currency in which you report and pay the tax amounts to the proper tax authority)

Generally Accepted Accounting Practices in Deltek Vantagepoint Multicurrency

Deltek Vantagepoint Multicurrency complies with the Accounting Standards Codification (ASC) sections ASC-830-10-55-10 and 11. In section 55-10, the guideline states that it is acceptable to use averages or other methods of approximation. Accordingly, it is recommended to use a weighted average of the exchange rate for a period rather than applying actual day-to-day fluctuations.

Furthermore, section 55-11 states that the average rates used shall be appropriately weighted by the volume of functional currency transactions occurring during an accounting period. In other words, to translate revenue and expense accounts for an annual period, individual revenue and expense accounts for each quarter or month may be translated at that quarter's or that month's average rate. The translated amounts for each quarter or month should then be combined with the annual totals.

Why Use Multicurrency in Deltek Vantagepoint?

Multicurrency can be used for tracking currency exchange gains and losses. Having foreign-denominated accounts creates the need to track gains and losses based on fluctuating exchange rates. For example, if a European company has a bank account denominated in United States dollars and the value of the euro rises against the United States dollar, the value in euros of that bank account balance drops. This results in an unrealized loss to the European company. Using Multicurrency allows you to use the Gains/Losses and Revaluations process in Vantagepoint to calculate and post these currency exchange gains and losses. As a result, they appear on your financial statements per the generally accepted accounting practices under which you operate.

Welcome to the matrix, you have the power to build a solid structure and allow your data to flow.  However, it is beneficial for one to understand the difference between Work Breakdown Structure (WBS) and Organizational Breakdown Structure (OBS) before you lay that foundation. During both the implementation of Deltek Vantagepoint and throughout a firm’s growth, professional services firms should understand the connection between the Organizational Breakdown Structure and the Work Breakdown Structure.  

A typical first step is to consider whether the firm needs to re-organize these structures. Whether it be the uniqueness of each, or the relationship between the two, the attention paid to these early stages of development is instrumental to the flow and reporting of information in your Deltek Vantagepoint database. In the following, we’ll explore some areas to consider when designing these structures in your database.  

Organizational Breakdown Structure (OBS)

When it comes to designing the Organizational Breakdown Structure (OBS) in Deltek Vantagepoint, it's important to consider the specific needs of your professional services firm. The OBS can range from simple to complex, depending on the size and requirements of your organization. Here are some examples of different OBS approaches.  

• Location Approach: With this approach, the OBS is organized based on the physical locations of your offices or project sites. Each location represents a hierarchical level in the structure, allowing you to track and manage projects and resources across different geographic areas.  
• Discipline/Department Approach: In the discipline or department approach, the OBS is structured around different functional areas or departments within your organization. This allows for efficient resource allocation, project assignment, and collaboration within specific areas of expertise.  
• Market Sector or Business Development Driven: This approach focuses on organizing the OBS according to your firm's market sectors or business development strategies. Each market sector or business development unit can be assigned a hierarchical level, enabling you to analyze performance and profitability based on these segments.  

Deltek Vantagepoint provides flexibility in designing your OBS, offering up to five hierarchical levels to accommodate your specific requirements. It also allows for the allocation of overhead requirements within the structure of the database. If you plan to utilize the multi-company functionality in your database, it's important to reserve level one for different companies within your enterprise.   

Financial accountability is a crucial aspect of any professional services organization. When building your OBS, it's essential to consider the financial implications. For example, if you use a two-level OBS structure, such as office and department, each combination will generate an income statement. This means that someone within your organization should be responsible for reviewing and managing these statements.  

Deltek Vantagepoint also enables the extraction of various cross-sections for combined financial reporting. For instance, if you have a mechanical department in three offices, you can create a mechanical income statement that provides accountability at different levels:  

• Office Accountability: You can track the financial performance of each individual office separately, gaining insights into the profitability and expenses associated with specific locations.  
• Office/Department Accountability: This level of accountability allows you to analyze the financial performance of different departments within each office. It helps in evaluating the contribution of each department to overall profitability.  
• Overall Department Accountability: By consolidating the financial data of the mechanical department across all offices, you can assess the department's overall performance and make informed decisions regarding resource allocation and strategic planning.  

The OBS in Deltek Vantagepoint offers the flexibility to design a structure that aligns with your professional services firm's needs. By carefully considering the OBS approach, financial accountability, and the ability to generate cross-sectional reports, you can effectively manage projects, resources, and profitability within your organization.  

Projects and the Work Breakdown Structure (WBS)

The Work Breakdown Structure (WBS) is a critical component that determines how a project is organized and how revenue and costs flow within a professional services firm. Most firms find it effective to build their WBS based on project budgets, aligning with the fee and scope defined in the client contract using a bottom-up approach. The best practice is to build your WBS to mirror your contract for smooth management of resources, budgets, and billing.    

Deltek Vantagepoint provides the flexibility to define up to three levels in the WBS, commonly referred to as Project, Phase, and Task. However, these labels can be customized to match your firm's preferences. Furthermore, the WBS allows for the assignment of accountability within a project. You can designate a project manager, as well as phase and task managers, based on their scope and budget responsibilities.  

It's important to note that project builds and WBS structures do not have to be identical across all projects. While each professional services firm may have its own unique requirements, it is generally recommended to have at least one WBS level 2 for every project, indicating another variation in the WBS. Additionally, projects can be built with no WBS level 3 or only certain portions of the WBS level 2 extending into the WBS level 3.  

The OBS and WBS structures function both individually and in tandem to support overall financial and operational accountability within your organization. At the lowest level, the WBS drives how revenue and costs are allocated within the OBS. Here are some additional factors to consider when working with the OBS and WBS structures:  

• "Mirroring" the OBS in WBS for Overhead Projects: For projects involving overhead costs, it can be beneficial to mirror the OBS structure within the WBS. This helps ensure that the appropriate overhead costs are accurately assigned to specific projects, allowing for better cost tracking and financial reporting.  
• Combinations of Cross-Charge, Intercompany Billing, and High Accountability in WBS: Consider how cross-charges, intercompany billing, and high levels of accountability will be incorporated into your WBS. Deltek Vantagepoint offers capabilities to support these requirements, allowing you to accurately allocate costs between different departments, offices, or business units within your professional services firm.  

By carefully considering these aspects of the OBS and WBS structures, you can establish a robust framework for financial and operational accountability within your professional services organization. Deltek Vantagepoint empowers you to customize and tailor the OBS and WBS to meet your firm's specific needs, ensuring accurate project tracking, cost allocation, and financial reporting.  

Is it Time to Update Your OBS and WBS Structures? 

In the ever-evolving landscape of professional services firms, it's crucial to regularly assess and update your Organizational Breakdown Structure (OBS) and Work Breakdown Structure (WBS) in Deltek Vantagepoint. As your business needs change and evolve, it becomes imperative to optimize your system to ensure it aligns with your current requirements. This is where Full Sail Partners can help. There is no one size fits all, and with the guidance of our consultants, we can help you develop a solution.   
 
By combining project attributes, you can create a powerful framework that enables efficient project management, resource allocation, and financial reporting. However, implementing such changes requires expertise and guidance from both functional and data consultants to ensure a smooth transition. We specialize in Deltek Vantagepoint consulting services, including OBS and WBS optimization.  

Our experienced consultants can work closely with your team to analyze your current structures, identify areas for improvement, and design a new and more productive system tailored to your unique needs. Timing and cutover planning are critical to the success of any system update. Our consultants will guide you through the entire process, ensuring that the implementation is seamless, minimizing disruption to your operations, and maximizing the benefits of the new OBS and WBS structures.  
 
Now is the perfect time to get creative and strive to get the most out of your Deltek Vantagepoint system. Don't let outdated structures hold your firm back. Explore the possibilities of a Navigational Analysis and let us help you unlock the full potential of Deltek Vantagepoint and drive efficiency, profitability, and growth within your organization. Learn more about how a Navigational Analysis can help your firm by clicking the image below.  

Within Deltek Vantagepoint lies an extremely useful tool that, when enabled and configured, allows a professional services firm to manage multiple companies within a single Deltek Vantagepoint database. However, the benefits of multicompany functionality seem to elude many professional services firms that would gain the most from its capabilities. So, in this blog, let’s delve into this multicompany functionality and discuss why, when, and how firms should use this fantastic feature.

Why Use Deltek Vantagepoint Multicompany?

Basically, the need for a multicompany environment comes down to the ability to track entities with separate tax ID numbers in a single Deltek Vantagepoint database. Some of the scenarios that require multicompany management include:

• Banking relationships
• Investments and/or holding company requirements
• Tax reporting
• Professional licensing requirements
• Foreign country reporting requirements

Additionally, the need for intercompany billing can occur when two or more related companies make payments on behalf of the other companies. The most common reason for intercompany billing is the sharing of labor resources between companies that have separate payrolls and/or vendor payments for another related company.

When a professional services firm decides to utilize multicompany functionality, it is recommended that sub-ledgers be enabled to track the due to and due from, and clear intercompany balances. With multicompany enabled, users can use both the Accounts Payable and Accounts Receivable aging reports for intercompany balances.

First Determine the Internal Pricing Structure

Upon implementing multicompany functionality in Deltek Vantagepoint, professional services firms must first determine what internal pricing structure to adopt. The options are:

• Re-class only - moves the transaction to intercompany Accounts Receivable/Accounts Payable at cost
• Project Centric - leaves the transaction on the books of the project’s company with some amount of compensation also moving to keep the loaning organization whole
• Employee Centric - moves the transaction back to the employee’s company with some amount of revenue moving back as well
• High Accountability – which uses a work breakdown structure (WBS) to manage transactions and point directly to the company that owns the transaction

Keep in mind that there is considerable flexibility within the options above. Different methods can be configured for different transaction types. Also, by order of operation, the distinct options can be overwritten at the individual company level or by the project at the lowest WBS level.

Intercompany billing makes accounting’s job easier regarding multicompany transactions. When transactions are made to projects not in the home company (the company where the transaction is being posted), invoices and vouchers are created through a series of postings that are reflected in the general ledgers (GLs) of the respective companies. These invoices and vouchers also appear on the Accounts Receivable and Accounts Payable aging reports noted above. The Accounts Payable and Accounts Receivable balances can then be cleared by using the standard check processing and cash receipt routines.

More Benefits of Multicompany

Using Deltek Vantagepoint’s multicompany functionality provides another benefit to firms with consolidated reporting. Consolidated reporting allows a view of the performance of all the companies within the database. Consolidated groupings can represent all companies or a cross-section of companies depending on the needs of company leadership. The consolidation process incorporates standard eliminations of configured control accounts and client-defined accounts, such as capital investments in related companies. Consolidations are “memo” entries and are not posted to the GL.

A multicompany database permits each company to maintain a unique GL while still only creating one set of shared GL account numbers. Furthermore, professional services firms can restrict GL account numbers, and other master records can be shared and/or restricted as well. Vendors (managed in the Vantagepoint Firms Hub) can be shared across the enterprise. However, the accounting tab is company-specific for account number and 1099 purposes.

In addition to the benefits mentioned above, the multi-currency application works in tandem with multicompany to allow companies to have a unique functional currency – the currency the company does business in. This is an excellent feature for professional services firms that work internationally. Lastly, the consolidation process can include Generally Accepted Accounting Principles (GAAP) compliant currency translations and gains/losses entries.

Take Advantage of Deltek Vantagepoint Multicompany Functionality

Is the multicompany functionality in Deltek Vantagepoint the right fit for your professional services firm? Don't leave it to guesswork. Schedule a Navigational Analysis with Full Sail Partners today. We'll help you assess your firm's unique needs and guide you in determining if the multicompany feature is the best solution for you. Dive deeper, make informed decisions, and ensure your firm sails smoothly towards success. Contact us now and let's chart the best course for your business!

The Labor Cross Charge utility of Deltek Vantagepoint is often an underused accounting feature by project-based firms. It is simply not being utilized because users are not quite familiar with the concept and how it could be of benefit. So, first off, the labor cross charge capabilities in Vantagepoint are based on similar theories as multi-company but are focused on the interaction within a project-based company and its organizational breakdown structure (OBS) and only focuses on labor. Before we dive deeper, here are some links to some resources about multi-company functionality and OBS in case you are unfamiliar with these topics.  

High-Level Insight into Cross Charge in Deltek Vantagepoint 

To those unfamiliar with the concept, cross charging is a financial tool that only impacts the general ledger. It does not change project reporting since the time charged to a project remains on the project for billing and reporting purposes. Cross charge is labor-focused and occurs after the timesheet is posted.  

Since Deltek Vantagepoint is project-based, this simply means that time is entered to a project number whether time is spent on a regular, revenue-producing project or an overhead effort. By default, the labor cost follows the project’s organization. If the cross charge process is not configured or run, the labor cost will remain on the income statement of that organization.  

Why Use Cross Charge?  

As financial and operational managers, we know that revenue can only be earned when a cost is incurred. For this reason, cross charge allows project-based businesses to move these elements in and out of various “buckets” within their organization. When a combined income statement is run, all cross charge entries will zero out and the original revenue and cost will remain.  

The cross charge process is used when project-based firms loan and borrow resources at the lowest level of the OBS, which could be:  

• Office - OBS is organized based on the physical locations of your offices  
• Department/Discipline - OBS is structured around different functional areas or departments within your organization 
• Market Sector - OBS is focused on your firm's market sectors   

A good situation for using cross charge would be with a civil engineering firm where projects will be needed for various disciplines. For instance, the survey department would loan their staff to the engineering projects and cross charge would be the financial component to drive and manage the accounting for the labor.  

There are two internal pricing options to choose from when configuring cross charge:  

1. Project Centric – This is when labor remains on the income statement of the organization where the project resides. A multiplier is then used to move some portion of operational/overhead (OH) costs from the loaning organization to the borrowing organization. This factor could be limited to a fringe benefit rate or represent a breakeven OH rate or even include some profit. The purpose is to ensure that the loaning organization has an incentive to keep their staff busy, but they also need to be mindful not to over-extend their resources. 
2. Employee Centric – This works by sending labor back to the employee’s organization. Using typical billing rates, although a multiplier can be used, the revenue is moved from the project’s to the employee’s organization. The purpose again is to ensure the loaning organization doesn’t lose the ability to show a profit by sharing their staff.  

Real-life Application of Cross Charge in Deltek Vantagepoint 

Here is a success story where the operational process and projects are built on the premise that fee and scope drive work breakdown structure (WBS) in a client’s Deltek Vantagepoint database. Under this model, high accountability becomes the first option where phases and tasks within a project are assigned to different organizations based on the portion of the work. Employees charge the phase/task that is assigned to the organization they “live” in. This results in more closely managed projects because the profit accountability is shifted back to the organization supplying the labor. This process eliminates the need for cross charge. 

 However, realizing that in order to run successful projects, there is a necessity to anticipate unplanned needs. This means that the project-based firm must have the ability to borrow an employee from another department for a short-term assignment or a last-minute need. For example, the base building studio decides it needs input from the interior design studio. In this scenario, the client falls back on the project-centric method noted above as a mechanism to facilitate resource sharing and not impede project progress. Furthermore, this is a prime example of a need for cross charge.  

Gain Control of Resources with Cross Charge  

The Labor Cross Charge utility in Deltek Vantagepoint can provide the functionality required to ensure an open and smooth process of resource sharing for your project-based firm. With a thorough understanding and effective implementation, cross charge can provide another dimension in managing your business.  

Interested in more information about using cross charge and how it can help unlock the full potential of Deltek Vantagepoint? Want to learn other ways of ensuring your project-based firm is running as efficiently as possible? If so, Full Sail Partners is happy to offer your firm a Navigational Analysis. 

At Full Sail Partners, we are thrilled to present our second blog post on the highly anticipated update of Deltek Vantagepoint to version 6.0. With each iteration, Deltek Vantagepoint has solidified its position as the trusted solution for organizations across various industries. Now, with the launch of version 6.0, we are poised to revolutionize the way professionals like you plan, execute, and track projects.  

With a comprehensive suite of features and enhancements, Deltek Vantagepoint 6.0 empowers professional services firms like yours with unparalleled insights, streamlined workflows, and a more intuitive interface. We are confident that this latest iteration will pave the way for project success in the modern era. In this blog post, we will continue to provide you with an overview of what's new in Deltek Vantagepoint 6.0, giving you a glimpse of the exciting possibilities that await you. 

Contents

• Mobile
• Mobile CRM
• Mobile Time & Expense
• My Preferences
• Planning
• Project Review
• Projects Hub
• Purchasing
• Reporting
• Search
• Timesheet, Expense Report, and Approval Center

Mobile

In the latest update to Vantagepoint 6.0, several mobile enhancements have been introduced to improve security, language compatibility, and server support for the mobile application.

• Disabling the Vantagepoint Mobile URL Deep Link Feature: To ensure enhanced security and mitigate potential risks, the deep link feature of the Vantagepoint Mobile application URL has been disabled. As a result, when you access a Vantagepoint Mobile application URL, you will now be automatically redirected to the Deltek screen. From there, you can conveniently download the latest mobile application and copy the application URL as needed.
• Hiding Help Links in Vantagepoint Mobile Applications for Non-English Languages: In adherence to the software documentation laws of countries outside the United States, help links within the Vantagepoint Mobile applications will be hidden if a language other than English (American or International) is selected. This change ensures compliance with translation requirements for software documentation. Consequently, help links on screens such as Server URL (Connection Help), Menu, and Settings will only be available when English (American or International) is the selected language.
• Touch Server Upgrade to PHP 8.1.14: To maintain optimal performance and compatibility, the Touch Server component of the Vantagepoint mobile application has been upgraded to support PHP 8.1.14. This update ensures that the mobile application operates smoothly with the latest PHP version, enhancing stability and overall server performance. 

Mobile CRM 

Deltek Vantagepoint 6.0 introduces several enhancements to Mobile CRM, providing users with expanded capabilities and improved functionality on the go. 

• Support for Date/Time Fields: Date/Time fields created in the Screen Designer of Deltek Vantagepoint are now accessible in Vantagepoint Mobile CRM. These fields can be found on the Misc/User-Defined (UDF) tab of all hubs. Users can conveniently add dates using the calendar icon, specify times using the clock icon, or directly input date and time values using the keypad. Please note that if one field is populated, both fields require input. 
• Support for Phone User-Defined Fields (UDFs): Phone UDFs created in the Screen Designer of Deltek Vantagepoint are now available in Vantagepoint Mobile CRM. On the Misc/User-Defined (UDF) tab of all hubs, users can add or edit phone numbers in the designated Phone UDF field. Tapping a phone number allows for quick initiation of a call. 
• Display of Pre-Award Number Field: Mobile CRM now includes the Pre-Award Number field, which displays the project number assigned at the time of project creation. If pre-award numbering is enabled and a pre-award number is assigned to the project, the Pre-Award Number field appears below the Number field on the Details screen of Projects. This field is read-only and does not appear on the Add Project screen. The Pre-Award Number field adheres to the field properties set in the Screen Designer of Deltek Vantagepoint. 

• Support for User-Defined Fields in Activities: User-defined fields (UDFs) created for the Activities hub in the Screen Designer of Deltek Vantagepoint are now accessible in Mobile CRM. On the Misc/UDF tab of the Add Activity screen and Edit Activity screen, users can view and interact with the UDFs associated with activities. 
• Improved Add Projects Functionality: The Contacts and Firms hubs in Mobile CRM now offer an enhanced Add Projects function. Users can expect more consistent behavior and a streamlined process that ensures proper business logic is applied. 
• Start and End Time Fields for all Activity Types: Mobile CRM now includes Start Time and End Time fields for all activity types. These fields are available regardless of whether a reminder is set for the selected activity type, providing users with greater flexibility and accuracy when managing activities. 
• Support for Image Icon Configuration: To comply with the General Data Protection Regulation (GDPR) laws of EU countries, the Edit link on the image icon of Contacts, Firms, and Projects is hidden if the image icon was configured to be locked in the Screen Designer of Deltek Vantagepoint. This ensures that when the image icon is locked, users cannot add new photos or replace existing ones in the records, safeguarding data privacy and protection.  

Mobile Time & Expense

In our ongoing efforts to enhance your experience with Mobile Time and Expense, we are excited to introduce two new features that will simplify your time and expense management.

• Viewing Benefit Hours: In Mobile Time and Expense, you can now conveniently view the summary of your benefit hours or absence accruals. By tapping and selecting the "View Benefit Hours" option, the Benefit Hours screen will be displayed. This screen presents a comprehensive overview of your PTO/personal, Sick, Holiday, and other types of benefit hours accumulated or used throughout the year. The "View Benefit Hours" option can be found on all Timesheet screen menus, allowing easy access to this valuable information.
• Improved Date Navigation: Efficiently managing to start and end times by day is now easier in Timesheet Hours. The Start/End Times screen offers an improved date navigation feature through a user-friendly date carousel. With the date carousel, you can swiftly navigate to a different day or tap on a specific day, reducing the number of taps required to enter time across multiple days. This enhancement streamlines the time entry process and allows for quicker input of time.  

My Preferences

In the My Preferences section, you have the ability to personalize your Vantagepoint experience to suit your needs. Take a look at these two new features that will help enhance your experience.  

• Preferred Application View: This is a new option on the General tab of My Preferences that is used to specify the preferred view that displays in all of Vantagepoint’s applications that support both Detail View and List View. 
  

• Role-based User Education in the Application: Vantagepoint now displays targeted in-app information about feature enhancements, common tasks, and communications based on your selected role in the new My Education Interests field on the My Preferences dialog box. 

Planning 

With the newly incorporated support for units on the Units tab and the ability to enter contract amounts on the Contract tab, Deltek Vantagepoint 6.0 empowers you to create meticulous and comprehensive project plans. 

• Support for Units in Project Planning: To facilitate comprehensive project planning, Vantagepoint now includes support for units on the Units tab within Project Planning (Hubs » Projects » Plan). With this enhancement, you can plan and manage units, enabling you to develop more detailed project plans. 
• Enter Contract Amounts for Unit Planning: In Project Planning, the Contract tab now allows you to specify the portion of a compensation amount allocated for units in regular or promotional charge-type projects. This enhancement provides a more detailed breakdown of amounts while planning your project, giving you better visibility and control over financial aspects related to unit planning. 

Project Review 

With the integration of planned units into the Key Performance Indicators (KPI) grid and the addition of the Total Billed field in the Revenue section, you can now conduct a more comprehensive analysis of your projects. These enhancements enable you to track and analyze planned unit quantities alongside other essential project metrics, while providing a clear and concise overview of the total amount billed for each project. 

• Planned Units in Project Review: In the Project Review form, any planned amounts for units within the project are now integrated into the Key Performance Indicators (KPI) grid located at the bottom. This inclusion allows for a more thorough assessment of project performance, enabling users to track and analyze planned unit quantities alongside other critical project metrics.
• Total Billed Field in Project Review: Within the Revenue section of the grid, a new Total Billed field has been introduced. This field provides a clear and concise overview of the total amount billed for the project. By displaying this information in the Project Review form, users can quickly assess the project's financial status and track invoiced amounts in a more streamlined manner. 

Projects Hub 

Deltek Vantagepoint 6.0 introduces a powerful new feature called Pre-Award Project Numbering, designed to streamline project management and enhance workflow flexibility. This feature allows users to set up Vantagepoint to support different numbering systems for pre-award (in-pursuit) projects and awarded (won) projects, enabling project numbers to be changed upon award. 

To enable the Pre-Award Project Numbering feature, navigate to the Numbering form in Settings » Workflow » Numbering and select the "Update project number when approved for use in processing" checkbox. This configuration option provides greater control over project numbering and helps align project management practices with specific organizational requirements.  

Purchasing 

Deltek Vantagepoint 6.0 brings significant enhancements to the Purchasing module by making various purchasing applications available in the browser application for improved accessibility and usability. Here are the updates. 

• Purchase Requisitions: Previously located in the desktop application, Purchase Requisitions is now accessible in the browser application.
• Purchase Orders: Similar to Purchase Requisitions, Purchase Orders have been moved from the desktop application to the browser application.
• Items: Formerly known as the Items Master application, it is now available in the browser application under Purchasing. This change provides a centralized location for managing items within the purchasing workflow.
• Item Review: A new addition to the browser application, the Item Review application allows users to review item-related details and associated purchase requisitions and purchase orders.
• Receiving: Also newly introduced to the browser application, the Receiving application streamlines the receipt management process.
• Option to Enable Purchasing Applications in the Browser Removed: With most purchasing applications now accessible in the browser application, the option to enable Purchase Orders in the Web Application has been removed from the Modules form in Settings » General » Modules.
• All Purchasing Reports Now Available in the Browser Application: The entire set of purchasing reports can now be accessed and utilized in the browser application under My Stuff » Reporting. This comprehensive collection includes reports such as Request for Price Quote Status, Purchase Requisition Form, Purchase Order Detail, and more.
• Improved Loading Speed for List View: Performance optimizations have been implemented to enhance the loading speed of List View within the Purchase Orders and Purchase Requisitions applications. Users can now enjoy a more efficient and seamless experience when working with large datasets.
• User Interface Enhancements for Receiving and Item Review Applications: In Vantagepoint 6.0, the Receiving and Item Review applications have undergone user interface improvements to provide a more consistent and intuitive user experience. Here are the notable changes:
• Receiving Application: Accessible in the browser application under Purchasing » Receiving, the redesigned form aligns with the visual elements and layout found in the browser application. It incorporates common search functions, displays item names from the Items application, offers actions for reporting, and provides enhanced capabilities for managing receipts and line items.
• Item Review Application: Available in the browser application under Purchasing » Item Review, the updated form features a revamped user interface consistent with the browser application design. It offers search functions, displays item names, enables the review of purchase requisitions and purchase orders associated with an item, and provides direct access to relevant records.
• The complete Item Review application can still be accessed within the desktop application under Purchasing » Item Review, ensuring compatibility with existing workflows and providing flexibility for users.

Reporting 

Take a look at these new game-changing features in the reporting section that make reporting a breeze. 

• SyncCustomReports Switch: With the release of Deltek Vantagepoint 6.0, a new feature called the SyncCustomReports switch has been introduced. This switch enables the synchronization of custom reports between the Vantagepoint (transaction) database and the Vantagepoint server database. By using the SyncCustomReports switch, you can ensure that any custom reports you have created or modified are accurately reflected in both databases. This functionality is equivalent to the Synchronize button found on the Custom Reports tab in the desktop application's Utilities » Report Administration section. 
• Workflow Report for Webhook Action: The Webhook Action within the Settings » Workflow » Application Workflows now supports a workflow subreport. You can generate a comprehensive report for this webhook action by clicking on either the "Print All Workflows" or "Print Workflow" options. This report provides detailed information about the workflow process, helping you analyze and track the actions taken within your application workflows. 

Search 

Deltek Vantagepoint 6.0 brings exciting updates to the search functionality, delivering an enhanced user experience for building, editing, and navigating searches. Let's explore the key improvements that will empower you to find information more efficiently.  

Improved Layout of Search Dialog Box: The Search dialog box has undergone a restyling to offer a clearer presentation of information and facilitate the building and editing of both standard and advanced searches. Key layout and styling changes include:

• A new grid header at the top of the Search dialog box, clearly displays the Select Search drop-down list, a set of Actions, and the Advanced Settings toggle. 
• The removal of the Show Preview toggle. 
• When the Check SQL button is clicked, Vantagepoint provides a SQL Where Clause status message. Validated queries are indicated by a shaded message in the Vantagepoint toolbar, while invalid queries are highlighted in red at the top of the Search dialog box. 

Enhanced Search Navigation and Record Selection Pane: Efficient navigation and record selection are vital for a seamless search experience. Deltek Vantagepoint 6.0 offers the following improvements: 

• Records Selection pane: The Records Selection pane now enables users to quickly add multiple records or all records to an ad hoc Selection search. Instead of relying on the Multiselect toggle, users can now select checkboxes for multiple records and click “Done” to promptly create an ad hoc Selection search. 
• Select All button: A new Select All button has been introduced to include all records in an ad hoc Selection search. By clicking this button, Vantagepoint automatically navigates to the Search Navigation Control for the ad hoc Selection search. 

• Direct record navigation: Users can conveniently navigate to a specific record by clicking any area to the right of the record's checkbox. This direct navigation feature speeds up the process of accessing a record's form. The Saved Search Control displays the saved search used for record navigation, along with its record number, in the paging control. 

Timesheet, Expense Report, and Approval Center 

Deltek Vantagepoint 6.0 introduces an update that enhances the visibility of employee assignments in the Timesheet, Expense Report, and Approval Center areas. If you have the Resource Planning and Time & Expense modules, you can now easily access employee assignment information directly from the following sections: 

• My Stuff » Timesheet
• My Stuff » Expense Report 
• My Stuff » Approval Center 

By opening the employee card within these areas, you can conveniently view and review an employee's assignments that have remaining estimate-to-complete (ETC) hours. This feature eliminates the need to switch applications and navigate to the Resource View form, providing a seamless experience within the current application context. 

The Assignments tab within the Employee Card dialog box allows you to explore the employee's current and future assignments across different projects. You can define the forecast range and customize the type of values displayed in the calendar period columns. These values may include planned hours, scheduled percentages, and utilization percentages. With this information readily available, you can quickly assess an employee's workload and upcoming commitments without leaving the application. 

Looking for More? 

Want to hear more about Deltek Vantagepoint 6.0? Be sure to check out our first blog to get the full picture of all things Vantagepoint. Still not enough? Check out our webinar on the new features of Deltek Vantagepoint and stay tuned for more content in the future!