VPVI-47...HANBURY Deltek Insight 2019 Success Story: How We Moved Fixed Assets from Excel to Deltek Vision 1. Configure the Equipment Module 2. Enter Existing Assets 3. Reconcile and

VPVI-47:Success Story: How We Moved Fixed Assets from Excel to Deltek Vision

Chrissy Gahm, Hanbury

HANBURY Deltek Insight 2019

HANBURY

Chrissy Gahm, CMA, CPA, CGMA

Finance Director


Fixed Assets

What We Were Doing


Success Story: How We Moved Fixed Assets from

Excel to Deltek Vision

1. Configure the Equipment Module

2. Enter Existing Assets

3. Reconcile and Post Accumulated Depreciation

4. Create and Manage New Assets


CONFIGURE

Vision Configuration

1. Asset Management

2. Purchasing & Inventory

3. Security Roles

HANBURY Configuration: Asset Management

General Tab: • Capitalization Minimum

• Periods per Year

• Asset Item Source

• Gain/Loss Account Setup

• Default Project Setup


Additional Books Tab: • We do not use

Methods Tab: • Insert – SL Straight-Line


Property Type Tab: • Insert to add types (high level)

• Can add subtypes under Asset Type

Improvements Tab: • Insert to add

• We do not use


Section 179 Tab: • We do not use

Asset Type Tab:• Insert

• Add Default Values


Side Note

Prepaids:

Could be used for Prepaid Expenses

Only allows full year for life

Prepaid Types could be set up for different GLs

HANBURY Configuration: Purchasing & Inventory

Purchasing & Inventory Setting

System Settings: Items • Insert

• Add Capital

Company Settings: Items • Insert

• Add Capital

HANBURY Configuration: Purchasing & Inventory

Items Master: • New

• Add Generic Item

HANBURY Configuration: Security Roles

Select Role

Record Access Tab:

Accounting Tab:

Security RolesGeneral Tab:

HANBURY Configuration: Security Roles

Access Rights Tab:

1. Application Tabs

2. Reports

Security Roles


STARTING POINT

Last Fiscal Year End

Need Beginning Balance of Assets and Accum. Depreciation to tie to GL balances

Steps

Enter Active Assets as of Last FYE

Depreciate Assets as of Last FYE

Reverse Duplicate Depreciation


ENTER ASSETS

As of October 31, 2017

HANBURY Enter Existing Assets

AP Voucher

Will create the asset in the Equipment Info Center AND the General Ledger

To be used in the normal course of business

Manually through Equipment Info Center

Will NOT create an entry to the General Ledger

*Use when: cost already exists in the General Ledger Capital Asset account on Balance sheet, but

is not included in the sub ledger, Equipment, which is your Asset sub ledger

Useful if forgot to add asset during AP Voucher or if purchased with credit

Useful to setup assets already in progress

ENTER ASSETS – Ways to Enter

HANBURY Enter Existing Assets

AP Voucher










HANBURY Enter Existing Assets: Oct 31, 2017

Asset Listing at FYE

Asset ID Number

Acquisition Date, In-Service Date

Description

Life (years)

Cost

Accumulated Depreciation

Other Information

Location

Employee Assignment

HANBURY Enter Existing Assets : Oct 31, 2017

Vision Info Center: Equipment

• Add New – New Equipment

ENTER ASSETS MANUALLY

Required Tabs:

• General

• GL Cost

• GL Book

Optional Tabs:

• Assignments

• Attachments

Not in Use:

• Purchase Order

• Status

• Links

• Additional Books


General Tab:

• Equipment Number

• Item Number (this is not editable once saved)

• Description (use Equip #)

• Model or Serial Number

• Project

• Location is custom field (example at end)




GL Cost Tab:

• Insert

• Cost Amount

• Period Purchased

• Description

• Account


GL Book Tab:

• Calculation

• Asset Type

• Property Type

• Method

• Asset Status

• Dates

• Useful Life

• GL Accounts



Assignments Tab:

• Associate to Employee


Attachments Tab:

• Upload copy of receipt


Repeat Steps: Enter All Assets



Equipment (FA) Report

CHECK POINT

General Ledger: Balance Sheet


DEPRECIATE ASSETS


HANBURY Depreciate Existing Assets: Oct 31, 2017

Verify Period (Utilities – Change Period)

DEPRECIATE ASSETS

Asset Management

• Depreciation Processing

• Select Run


DEPRECIATE ASSETS


RECONCILE DEPRECIATIONReconcile Depreciation

• Export to Excel

• Best to extract and use a Vlookup to

compare the accumulated

depreciation by asset

• Differences may be due to in-service

dates (begin or end of month)

• Update in-service date and re-run

depreciation (delete batch and re-run).

• If variance is minor (rounding), edit in

batch.


POST DEPRECIATION

Post Depreciation

• This will duplicate the General Ledger

• Need to post to set up FA Sub Ledger

• This entry is specifically connected to

the sub-ledger

Print Posting Log

• Using summary, reverse duplicate entry


REVERSE DUPLICATE DEPREICATION


HANBURY Reverse Duplicate Depreciation: Oct 31, 2017

REVERSE DUPLICATE DEPRECIATION

Journal Entry• Transaction Entry

• Journal Entries

• Manually enter entry

• Post Batch

HANBURY Check Point: Oct 31, 2017

Equipment (FA) Report

CHECK POINT

General Ledger: Balance Sheet


CURRENT YEAR

Catch up

If Asset Activity has occurred, enter next and follow same rules for depreciation

Steps

Enter New Assets

Reverse Current Year Estimated Depreciation, if any

Depreciate Assets as of Current Period

HANBURY Current Year

CURRENT YEAR – Catch Up

Enter Assets Manually (slides 20-25)

• Info Center – Equipment

• Tabs: General, GL Cost, GL Book

Reverse All Current Year Depreciation Expense

• Transaction Center – Journal Entries

• In Current Period, Reverse estimated

depreciation posted to date

Run Actual Depreciation (slide 28)

• Run YTD in current period

• This will net with the reversal of estimated

depreciation expense

Variance:

Estimated vs. Actual on reports


GOING FORWARD

Create and Manage New Assets

New Assets:

Enter through AP Voucher

Complete Asset Setup in Equipment Info Center

Month End:

Depreciation Posting

HANBURY Enter Assets

AP Voucher










HANBURY Enter Assets

AP Voucher










HANBURY New Assets Through AP Voucher

ENTER ASSETS – AP Voucher

Transaction Entry• Transaction Type: AP Vouchers

• Select New or Recurring

• Select Allow Asset Entries

HANBURY New Assets Through AP Voucher

ENTER ASSETS – AP Voucher

Transaction Entry• Enter Information as normal

• Select Create Asset

• Select Asset Type

• Select Item Number (generic)

• No project for asset account

• Account will default

• Enter Amount

• Select Document Icon to attach

Transaction Posting• Post Batch as Normal

HANBURY Complete Setup – Equipment Info Center

EQUIPMENT INFO CENTER

Complete Asset Setup• AP voucher will not assign the asset number

• The asset will not be active yet

Search• Select magnifying glass

• Select and Sort by Equipment Number

• Identify Last Equipment Number Used

(1663 so we will use 1664)

• Sort by Equipment Number again to find

the asset with no number assigned

• Select the asset to complete


Complete• Enter Equipment Number

• Update Description, Location, etc



Attachments Tab:• If Uploaded on Voucher, links here

• Can Upload, View, or Delete


GL Cost Tab:• Details from Voucher

• Can update amount here if need


GL Book Tab:• Enter Acquisition Date

• Enter In Service Date

• Asset Status - Active


Save and Close• Save changes

• Asset Setup is Complete

MONTH END - DEPRECIATION

Month End:• Run Depreciation (slide 28)

• Post Depreciation

• Run Reports – Verify GL matches Equipment Reports

HANBURY Month End - Depreciation

HANBURY Month End - Verify

CONFIRM REPORTS BALANCE

General Ledger Report:

• Balance Sheet

Equipment Report:

• Asset Summary


ADDITIONAL

Custom Fields

Dispose Assets

Reports


CUSTOM FIELDS

HANBURY Custom Fields

Custom Fields• Location – Custom Field

• Create in Configuration First

• Place as desired with Designer Mode

CUSTOM FIELDS


Configuration

• General – User Defined Components

• Select Application: Equipment

• Custom Fields Tab:

• Select Insert

• Select the Tab where you want it to appear

• Add Label

• Select Data Type, width

• Edit List of Values as desired (for dropdown)

CUSTOM FIELDS


Equipment Info Center:• Select Designer symbol at bottom

right corner

• Select New Field and place where

desired

CUSTOM FIELDS


DISPOSE ASSETS

Disposal Type:

Scrapped

Sold

HANBURY Dispose Assets

DISPOSAL PROCESSING - Scrapped

• Select Asset

• Disposal Type: Scrapped

• Select Disposal Date

• Select Run – THIS WILL POST


DISPOSAL PROCESSING - Scrapped

• Transaction Center

• Posting Logs

• Journal Entries


DISPOSAL PROCESSING - Sold

• Select Asset

• Disposal Type: Sold

• Select Disposal Date

• Enter Transaction Entry

• This will post cash receipt

• Select Run – THIS WILL POST


DISPOSAL PROCESSING - Sold

• Transaction Center

• Posting Logs

• Cash Receipts******


REPORTS

HANBURY Reports

REPORTS


QUESTIONS?

Contact Information

Chrissy Gahm, CMA, CPA, CGMA

Finance Director

[email protected]

757.321.9635

www.hewv.com

Documents

VPVI-47...HANBURY Deltek Insight 2019 Success Story: How We Moved Fixed Assets from Excel to Deltek Vision 1. Configure the Equipment Module 2. Enter Existing Assets 3. Reconcile and