Financial Accounting


The core of Deltek Vision's back-office infrastructure, the Accounting module automates and integrates all aspects of financial and project control so that project managers, business managers, principals and accounting staff have immediate access to the management information they need. Vision takes a unique approach to financial accounting by integrating the general ledger and project functionality and offers a powerful suite of integrated financial management applications, including accounts payable, accounts receivable, revenue recognition, overhead allocation, billing, payroll and financial reporting. And Vision Accounting provides a superior project-focused audit trail to track costs from the lead stage through project completion. Managers can closely monitor individual business units in your firm - right down to transaction detail.


Vision offers a flexible work breakdown structure (WBS) to handle your firm's most complex projects. The WBS provides up to three levels of project structure, with each level's label user-defined to meet your firm's individual needs. You can determine the total number of levels your firm needs globally, then determine how many levels you need to manage each individual project. You can also categorize labor activity using globally-labeled codes.


The core of Vision's Accounting module is its project control functionality, which lets your firm to create a pool of detailed project and client information that is shared with other Vision applications, including Vision Resource and Project Planning.


The Accounting module provides several standard, interactive reports that include the ability to drill down into detail labor and expense transactions. Vision Accounting also controls the types of cost and expenses that can be charged at a specific level of the WBS.



The Office Earnings Report shows at a glance which of your projects are profitable by providing
summarized costs, billings, receivables, revenue and profit/loss amounts and percentages.

The general ledger component of Vision Accounting handles standard accounting tasks and provides a superior audit trail, all with a project focus. Vision allows for multi-period processing and both accrual and cash-basis accounting. Features include:


o Automated general ledger overhead allocation based on square footage, head count or account groupings
o Automated revenue recognition and work-in-process calculations
o The ability to track revenue, billed and unbilled amounts by revenue category
o Financial statements uniquely designed for professional services firms
o Interactive accounting reports that support drill-down functionality
o A graphical user interface that lets you enter accounting transactions with a minimum of keystrokes


The accounts payable component automates payment processing throughout the organization, providing comprehensive data capture, customized vendor grouping, and instant payables analysis and payment scheduling. Accounting staff can:


o Customize payment terms for each vendor, including a pay-when-paid option
o Generate reports to monitor cash requirements and vendor invoice aging
o Generate non-employee, rent and interest 1099s


Vision's Consultant Tracking feature helps manage consultant costs, a significant expense for almost all professional services firms. Consultant Tracking helps you monitor this major cost component by providing:

o The ability to budget consultant expenses by project
o Automated consultant accruals based on percentage of completion, estimate-at completion or estimate-to-complete
o A consultant accrual ledger that lets you view consultant expenses by project
o A pay-when-paid feature, which monitors your clients' invoices and releases consultant payments when you receive payment from your clients


Vision's Organizational Reporting feature allows management to define and closely monitor individual business units -- companies, divisions or departments practicing in one or more locations -- in an organizational structure of up to five levels. Reporting features include the ability to maintain separate general ledgers and produce separate financial statements and project reports for each organization.