Deltek Vantagepoint Help

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Revenue Generation and QuickBooks Integration

When you run the revenue generation process in Vantagepoint, the journal entries created for it in Vantagepoint are added in QuickBooks Online.

Because Vantagepoint is an accrual-based system, you can use the revenue generation process get to a more accurate view of a project's financial status. When you use revenue generation, a project's revenue is recognized when it is earned, based on the project's assigned revenue method (such as percent complete or JTD billings) instead of the amount billed. The project's earned revenue is matched to the project's expenses as they are incurred.

Steps to complete when you use the revenue generation process with QuickBooks Online:

  1. To enable revenue generation, select the Enable Revenue Generation Feature check box on the Revenue tab in Settings > PSA > Revenue.
  2. Create and post a billing invoice for a specific customer (client).

    When the invoice is added to QuickBooks Online, a journal entry is also added to QuickBooks Online that reverses the revenue on the general ledger. Revenue (P&L) is debited and unearned revenue (balance sheet) is credited.

  3. In the Vantagepoint, run the revenue generation process in PSA > Revenue Generation.

    A Rev Gen journal entry is created in Vantagepoint to recognize the appropriate amount of revenue. Revenue is credited and unearned revenue is debited.

  4. Ppost the RevGen journal entry transaction file in Transaction Center > Transaction Entry > Journal Entries.

The journal entries from Vantagepoint are added to QuickBooks Online. You see them in the following locations in QuickBooks Online:

  • Reports > Accountant Reports > Journal
  • Search (magnifying glass icon in the toolbar) > Advanced Search: In the transactions search field, select Journal Entries
  • Accounting > Chart of Accounts

For more information about revenue generation, see the following topics:

Note: These help topics direct you to the Revenue Generation application in Accounting > Revenue Generation. However, when you use the PSA module and QuickBooks integration, you will not see Accounting in the Navigation pane. Instead, you see PSA.