Post on 03-Jun-2020
GC-43 - Product Overview: CostpointMulticurrency Labor and LeavePhilip Parry, Product Director, Deltek
Susan Pucciano, Partner, Lexell Blue
Rick Stumpf, Principal Consultant, Deltek
Agenda
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Multicurrency Labor
Overview
Capabilities
Multicurrency Features
Overview
Capabilities
Implementation Considerations
Q&A
Wrap Up
Overview
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Prerequisites
Must be licensed for Multicurrency
Settings
Turn on/off feature Define accrued salary accounts by transaction currency
Employee
Associate currency and rate group to employee Capture rate/salary based on employee currency Ability to maintain via screen or preprocessor
Pay Types
Ability to provide premium amounts in by transaction currency
Timesheets
Timesheets are costed based on employee currency and rate group
Processing/Reporting
Option to include functional and transactional currency info on reports Posts Multicurrency transaction to GL Detail and timesheet history tables
Settings
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Define accrued salary accounts by transaction currency
Employees
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Associate currency and rate group to employee
Hourly/Salary/Annual amounts based on currency
Maintain via screen or employee preprocessor
Pay Types
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Ability to provide premium amounts in by transaction currency
Timesheet
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Costs timesheets based on employee currency and rate group
Ability to cost timesheets via screen, preprocessor, or T&E interface
Processing\Reporting
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Option to include functional and transactional currency info on reports
Posts Multicurrency transaction to GL Detail and timesheet history tables
Overview
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Prerequisites
Must be licensed for Multicurrency
Settings
Control how currency and exchange rate is determined for accruals Allow configuration of monthly block grant with different leave cycle Define Leave Type accrued salary accounts by transaction currency
Initialization
Ability to set beginning balances based on transaction currency
Processing\Reporting
Compute leave based on employee currency Multicurrency posting to GL detail and leave history tables Display transactional amounts on reports
International
Provide ability to provide T&E with leave balance and accruals in days Ability to do monthly block grant when leave cycle not monthly
Settings
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Configure whether the currency and exchange rate shall be based on the first or
last day of the leave period.
Needed if employee currency changes during leave period
Settings
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Define leave accrual accounts by transaction currency
Accrual accounts must be unique across currencies
Expense Accounts can be duplicated
Initialization
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Ability to enter transaction amounts for accrued leave, deferred leave, and lost
leave for an employee’s Leave Year beginning balances.
Processing\Reporting – Accrual
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When leave is computed for the employee, the transaction amount will be based
on the accrual rules set up for the Leave Type
The Exchange Rate will be based on the employee’s Currency & Rate Group as
of the first or last day of the leave period being computed.
After computing, leave accruals can be reviewed in the Manage Leave Edit Table
screen or by running the Leave Accrual Report
Processing\Reporting – Posting
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Accrued leave will be posted to the General Ledger, Employee Balances, and
Employee Leave History tables
Any edits or corrections to posted leave will need to be done through manual
entry of the adjustments into the Leave Edit table
Used leave is entered on timesheets and will therefore be posted in the Post
Timesheets application
Processing\Reporting – Gain\Loss
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Unrealized and Realized Gains and Losses
This existing application can be used to calculate the unrealized gain/loss on
the value of the Leave Accrual liability account
Users will need to do their own entries each month to revalue the beginning
fiscal year balance for Accrued Leave (and any other balance sheet accounts
revalued by that G/L process)
The Month-End Revaluation Entry is a reversing JE, so will be reversed in
following period, and therefore have no lasting effect. A new revaluation will be
done in the following month.
Upon posting used leave, the realized gain or loss will be determined based on
the average exchange rate for the employee’s leave balance. The average
exchange rate is the average rate applied to the beginning balance and the
accrued leave or the deferred leave.
Processing\Reporting - Transfers
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The necessity to transfer leave balances can arise from any one or more of the
following:
Employee’s Home Organization changes, causing the need for transfer of his
leave liability
Employee’s Currency changes, causing the need to transfer the liability to a
new Account/Organization
Employee’s Leave Type changes, causing the need to transfer the liability to a
new Account/Organization. An employee’s Leave Type may change if the
client opts to limit Costpoint setup to one Transaction Currency per Leave
Type. If the employee’s Currency changes, the Leave Type must also change.
Used leave is posted via a correcting timesheet, where the timesheet’s
Currency is not the same as the employee’s current Currency. The new
Account/Organization liability will need to be adjusted
Internationalization – Block Grant
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Allow the client to specify whether the accrual shall be calculated on the first day
of every month or the last day of every month (Only applies if not month leave
cycle)
Internationalization – Work Days
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Add the ability to specify the number of leave hours which constitute one day of
leave
Design Considerations
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Concepts and Data Flows are similar - Multi currency is an enhancement to the application design
Do a global design with all international considerations
Time
Capture
Leave
Labor
Employee
General
Ledger
International & Currency Drivers
Employee Class
Leave Types
Pay Types
Timesheet Cycles
Leave Cycles
Labor Groups
Organization
Work Schedules
Location
Business requirements and currencies should have similar groupings among the controls. (This Location gets this TS Cycle).
Communication between
business owners is critical.
Design Considerations
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Multi Currency means Multi Country - adding complexity and volume
Before you start designing, ensure you:
Have clean policies – location, leave, TS cycles and etc.
Document business practices & requirements
Determine & document data flows for legacy interfaces and payrolls
Determine the roll out plan – big bang or 1 country every period
Staffing Representation of country requirements
Determine your reporting needs
Clean data Employee Class
Leave Types
Pay Types
Timesheet Cycles
Leave Cycles
Labor Groups
Organization
Work Schedules
Location
Plan, Plan... Plan!
Optimize the full Capability
Implementation Considerations –Opportunities
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General Ledger
Transactional and Functional Currency stored for
Labor and Leave
Reporting options
Foreign Payroll
Gross labor costs in pay currency available
Conversion factor hours to days
Support ability to generate extract to send to
payroll provider
Implementation Considerations –Thoughts from the Field
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Monthly payroll and alignment with accounting
calendar
Complex labor laws
Overtime rules
Maximum hours per week/year
Many pay types/employee classes
Tracking Days vs. hours worked
Proration in Time Collection
Factor for converting leave hours to days
Implementation Considerations – It’s not Just the Software
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Cultural Differences
Communication: low-context vs. high-context Evaluation: direct vs. indirect negative feedback Persuasion: principles-first vs. applications-first Leadership Style: egalitarian vs. hierarchical Decision Making Process: consensual vs. top-down Earning Trust: task-based vs. relationship-based Disagreement: confrontational vs. non-confrontational Scheduling: linear-time vs. flexible-time