VI-47 Streamline Accounts Payable with Vision. Deb Eastberg Senior Consultant SilverEdge Software Systems, Inc.

Transcription

1 VI-47 Streamline Accounts Payable with Vision Deb Eastberg Senior Consultant SilverEdge Software Systems, Inc.

2 Focus on 3 areas to save you time Credit Card transactions AP Voucher Approvals EFT Payments 2

3 Credit Cards Timely Entry of Information More Accurate Project Assignment Ability to Track Purchases to Merchants 3

4 Credit Card Process the Old Way Receive the credit card statement once a month. Create an AP voucher with hundreds of lines of detail. Or Enter expenses through expense sheet and indicate charges are company paid. Print the Account Analysis to reconcile to credit card statement. Charges are not entered in a timely manner Reconciliation is difficult There is no way to track amounts paid to certain merchants. 4

5 We need a way to: Get charges on projects now rather than when the credit card statement arrives. Quickly import hundreds of records Review the status of the credit card charges Tie out charges imported to statement Review amounts by credit card, by Merchant, by account, etc. 5

6 Who would use Credit Card Import? Someone who has more credit card charges than they want to enter that come from: A single company credit card Multiple cards for specific employees Road warriors that use their personal credit cards 6

7 New Credit Card Process Download credit card transactions (weekly) from your credit card website. Import through Accounting\Credit Card Reconciliation\Import. Notifications can immediately go out to employees. Charges will be posted through expense sheets for those employees linked to a credit card. Credit card charges credit your credit card liability and debit expense (or whatever was purchased). Reconcile to your credit card statement. Verify that all charges have been assigned\posted. Create an AP Voucher or AP/Cash Disbursement and relieve the credit card liability. 7

8 Credit Card Setup 1. Configuration\Time & Expense Configuration\Company Expense Sheet Enable use of Company Credit. 2. Configuration\Accounting\Company Settings Enable use of Credit Cards. 3. Configuration\Security\Roles Give access to Configuration\Accounting\Credit Cards and Accounting\Credit Cards 4. Create Credit Cards in Configuration\Accounting\Credit Cards 8

9 Configuration\Accounting\Credit Card 9

10 Configuration\Accounting\Credit Card\Import Download transactions from your CC website to determine how to set up the import dialog. 10

11 Clean up the import file and save it as CSV or Tab Delimited. Delete the header row 1. Vision checks the reference number for duplicates. Amounts should be positive. Remove or don t download payments. Make sure the employee account name or number is listed. 11

12 Accounting\Credit Card Reconciliation\Import 12

13 Expense Sheet Employees see only their charges 13

14 Employee Expense on Invoice Each expense sheet belongs to a particular employee. That employee is stored as Description 1. Description 2 is the expense record description. 14

15 Accounting\Credit Card\Charges Review the status of your imported charges. Has everything been assigned and posted? 15

16 Credit Card\Cash Transactions Credit Card charges are never paid on the employee expense sheet. If you use the Cash set of books, Vision can create a cash entry for reconciled charges. 16

17 Credit Card Review Use Credit Card Review to see purchases by Merchant. 17

18 Recap Download your charges on weekly from your credit card website. Import through Accounting\Credit Card Reconciliation\Import. Notifications can immediately go out to employees. Get charges posted through expense sheets so that Project Reports and Billing are update to date. Credit card charges credit your credit card liability and debit expense (or whatever was purchased). Reconcile to your credit card statement. Verify that all charges have been assigned\posted. Create an AP Voucher or AP/cash Disbursement and relieve the credit card liability. 18

19 Questions about Credit Card Import? 19

20 AP Invoice Approvals Workflow Approval Configuration AP Invoice Approval Process 20

21 Before we enter the vouchers we want to know: What projects are these expenses for? Did the vendor actually do the work? Are these the agreed upon rates? Does anybody know who this vendor is? Are these costs within approved parameters? 21

22 Ditch the paper. Route approvals electronically No paper sitting on someone s desk Check on status Ability to see which items are still in the approval process Reminders or dashboard reminders are sent based on your criteria History Approval date and notes on previously approved vouchers are available Project or other manager approval prior to posting Multi Step approval process and separation of duties 22

23 Configuration\Workflows\Approval Workflows 23

24 Configuration\Workflows\Approval Workflows 24

25 Approval Steps Who and How Many? Set up Steps for: Conditions: Special situations (large dollar amounts, Charge Type, Organization, etc.) Assigned to: Who Approves? How many approval steps are needed 25

26 Actions: For each step who is notified, when and how 26

27 Configuration\Accounting\ Company AP Assign workflow by company

28 Security Settings for Approvals

29 Security Settings for AP Invoice Approvals

30 Accounting\AP Invoice Approval Start the process by Uploading and Submitting. Will your project manager appreciate getting an for each invoice that is submitted?

31 Approvers will be notified and can then approve or reject AP Vouchers. Will your project manager appreciate getting an for each invoice that is submitted?

32 Approving or Rejecting

33 On last step of approval Voucher is assigned to a batch file and is ready to post. Will your project manager appreciate getting an for each invoice that is submitted?

34 Approval, Progress and History

35 Recap Decide how approvals should be routed. Based on amount? Based on project Charge Type? Based on Organization? Can approvals be reassigned? Set up as many approval steps as you need. Assign the approval workflow you want to use in Configuration\Accounting\Company AP. Reminders or dashboard reminders are sent based on your criteria Change Security for your approvers so they can access new screens. 35

36 Questions about AP Invoice Approval? 36

37 EFT Payments Reduce time and paper notifications to Vendors and Employees Ability to review data prior to uploading bank file 37

38 Easier Payment Processing Let s get rid of: Printing checks Getting signatures Stuffing envelopes Stamping letters Instead let s: Review a payment file for approval Automatically send remittance advices to employees and vendors. Upload data to the bank 38

39 Bank Code\NACHA File Format There are ACH standards, but each bank has certain requirements. 39

40 Additional report option: Export to Text Format Within Payment Processing you can also create another report. 40

41 User Defined File Format Create your own file showing payment information. 41

42 Vendor Direct Deposit To get an EFT Advice a Vendor or Employee must be set up for Direct Deposit, have selection for remittance and an address. 42

43 Employee Direct Deposit Setup Employees can have more than one account. The direct deposit accounts can be used for Payroll and Employee Expenses. 43

44 Direct Deposit Status Add: Vendor or Employee will get a check but be included with zero amount (pre-note) on ACH File Wait: Status will change to wait when check is cut. You must change status to Active once bank verifies employee information is correct. Active: EFT Advice will print from now on. 44

45 ACH Process Select Expense Sheets, Payroll or AP Invoices to Pay Preview and assign payment numbers Export to Text (Optional: For non-usa ACH file, or to provide list of checks and amounts for approval.) Remittance Advices Post payments Create ACH file to upload to bank 45

46 Export to Text (Bank Code User Defined File) 46

47 EFT & Remittance indicators 47

48 Remittance Advice 48

49 After Posting Create the ACH File to Upload to the Bank Menu option Accounts Payable/EFT Employee Expenses/Direct Deposit Payroll\Direct Deposit 49

50 Upload ACH to Bank website 50

51 Accounting\Payment Review No filing (use Accounting\Payment Review for audit) No envelopes No stamps Resend remittance from Payment Review if needed or open Vendor Review Hyper link opens Posting Report Hyper link opens Payment Remittance 51

52 For Employee access use Employee Review No filing (use Accounting\Payment Review for audit) No envelopes No stamps Resend remittance from Payment Review if needed 52

53 Done and done! No filing (use Accounting\Payment Review for audit) No envelopes No stamps Employees and Vendors are notified immediately Resend remittance from Payment Review if needed 53

54 Questions about EFT processing? 54

55 Come visit the SilverEdge booth in the Expo Hall to discuss further! Please submit a survey for this session via the mobile app.

56 Learn More Get plugged in Join a user group (regional, virtual) Interact in Kona Client Advisory Council (CAC) and more! (VisionPSM@Deltek.com) Join the MVP program Visit the Vision kiosks in the Expo Hall Follow the Vision Attend a live VPM, CRM, Resource Planning, demo or sign up for an upcoming webinar at Deltek.com 56