Deltek Vantagepoint Help

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Units

Use units to bill internal or overhead labor and expense charges as unit transactions.

Units are used to recover internal (overhead) expenses and charge them directly to the project (whether or not the expense is reimbursable). For example, a specific lab test performed by your enterprise is charged to a project. The offset to the charge is a credit to an overhead account and project that will help you monitor the charges for lab tests. Each test is considered as one unit.

You must set up units in Settings > Accounting > Units before you enter unit transactions in Transaction Center > Transaction Entry.

Posting

During a unit posting, Vantagepoint:

  • Debits explicitly the amount specified on each detail line to the specified account (typically a reimbursable expense account).
  • Credits implicitly the total unit amount to the Credit Account specified in Units Settings (typically, account 792.00 - Miscellaneous Expense Recovery).

Posting Log

A posting log enables you to view information about a batch of transactions. Vantagepoint produces a Unit posting log each time that you post units, including those transferred from Billing. The log describes all units posted during that session. Depending on the type of rate defined for the unit, Vantagepoint displays the following information:

  • If the unit has only a billing rate defined, then Vantagepoint displays the following for each unit: the unit number, name, project (and task, if any), account, quantity, and extended billing amount.
  • If the unit has only a cost per unit rate defined, then Vantagepoint displays the following for each unit: the unit number, name, project (and task, if any), account, quantity, and extended cost amount. A general ledger posting summary also displays listing the debit and credit amounts for this unit.
  • If the unit has both a billing and a cost per unit rate defined, then Vantagepoint displays the following for each unit: the unit number, name, project (and task, if any), account, quantity, and the extended billing and cost amounts. A general ledger posting summary also displays listing the debit and credit amounts for the costed portion of this unit.
  • If the billing amount for project reporting is not extending correctly for cost only units, you must run the Refresh Billing Extensions routine to correct the problem.
  • If you must undo the posted transaction, you can use the Undo Postings utility. Use this utility with caution: undoing a completed posting erases all transactions associated with the posting. When you undo a posted transaction, the posting log review includes a new posting that states the name and number of the removed transaction. For example, if you undo Journal Entry number six, the Posting Log Review for journal entries will include the listing: "Journal Entry posting run number 6 removed."