Deltek Vantagepoint Help

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Labor and Expense Charges

After you enter project and employee information in the Vantagepoint hubs, you can begin processing project-related labor and expense transactions.

All of the work that your enterprise does and all of the money that it spends and receives is associated with a project. Every labor and expense transaction must have an associated project number.

Transaction Types

The transactions you can process include the following:

  • Timesheets: Use timesheets to record employee labor charges.
  • Labor Adjustments: Use labor adjustments to record corrections to labor charges that have already been posted.
  • Employee Expenses: These transactions are designed to record employee travel and automobile expenses, but can be used for all expense reporting purposes.
  • Employee Repayments: Use employee repayments to record payments that employees make when they do not use the full amount of their expense advances.
  • Units: Units are goods or services that you cost and bill at a fixed rate. Use unit transactions to record expense charges made using units.
  • Miscellaneous Expenses: Use miscellaneous expense transactions to record expenses that do not fit into another expense category, including telephone, postage and shipping, models, and photography. This transaction type is designed to take previously costed overhead items and distribute their cost to revenue-producing projects.
  • Prints and Reproductions: Use prints and reproductions transactions to record expenses related to printing and photocopying.
  • Invoices: Use invoice transactions to records bills that you have sent to clients. If you use Vantagepoint billing applications, these transactions are created automatically as part of the billing process.

You can also enter cash receipts and disbursements, journal entries, and other accounting-related transactions.

All of the labor and expense transactions that you process and associate with projects ultimately appear on your project reports, allowing you to review and track current, year-to-date, and/or total labor and expense costs for each of your projects.

Effect of Posting Timesheets

When you post employee timesheets, Vantagepoint does the following:

  • Debits your labor expense accounts (for example, Direct Labor, Indirect Labor, and Vacation) for the amounts entered on the timesheets.
  • Credits an indirect expense account (Job Cost Variance) for the total labor cost.

    The Job Cost Variance account (703.00 in the standard chart of accounts) holds the labor cost credit balance until you pay your employees. When you pay your employees, Vantagepoint debits the Job Cost Variance account for the total payroll amount. What remains in the account is the difference between the amount of labor costed to projects and the amount that you paid employees for that labor. Because Job Cost Variance is an indirect expense account, this difference becomes part of your overhead and therefore is distributed among all of your enterprise's revenue-producing projects when you allocate overhead.

Effect of Posting Employee Expenses and Advances

When you process employee expenses and advances, Vantagepoint:

  • Debits the appropriate expense accounts (Reimbursable Expenses, Direct Expenses, Indirect Expenses, Other Expenses) for the amounts entered on employee expense reports.
  • Credits an asset or AR account for the amount of the expense or advance.