Financial

  • John Burson on Income Statements

    What should a design firm's compiled financial statement look like? John Burson details some pointers for highlighting financial details in the A&E accounting environment.

  • Planning and Control for the Non-Financial Manager

    The managing principal of a design firm is often an architect or engineer who is a non-financial manager not trained in accounting. In this article first published in A&E Business, John Burson details the key metrics non-financial managers should be aware of in their decision making process.

  • Document Retention Policies: How Long Should You Keep Things On-File?

    When should you hold on to documents and when should you toss them? This reference guide from Watkins Meegan should help you keep your documents under control.

  • Financial Audits – Deficiencies & Material Weaknesses & Their Meaning

    A financial statement audit is designed to express an opinion on the financial statements, not on the entity's internal controls. However, obtaining an understanding of these controls remains a key part of every financial statement audit. Phil Philips, CPA of Watkins Meegan helps explain the language surrounding control gaps and deficiencies.

  • Uncompensated Overtime & How It Impacts Government Contractors

    Many government contractors have found themselves in a “discussion” with DCAA auditors regarding uncompensated overtime at one point or another. The following article by CPA Kristen Soles of Watkins Meegan helps provide guidance regarding how to properly account for uncompensated overtime.

  • Comp Time Policies – Accounting Impacts for Government Contractors

    The term “Comp Time” is often overused and can mean different things to different people. These suggestions by CPA Stephanie Widzinski of Watkins Meegan, will help guide you as you develop your firm's comp time policy.

  • Year-End Hints for Time & Expense

    Unlike your accounting system, T&E does not have a complex year end close process, however there ARE a few things you can do to make your transition into the new calendar or fiscal year seamless if you follow the steps from this guide from Cordia Partners and TBS.

  • Changing Pay Frequencies in GCS

    Aside from backing up your data, what other steps should you take in order to change pay frequencies? These steps from Cordia Partners will help you make the changes in a smooth and straightforward manner.

  • Reconciling Accounts Payable – General Ledger Out of Balances in Deltek GCS

    Track down out of ballance discrepancies quickly with this guide from Cordia Partners. In it you will find seven common causes for the Open A/P report to differ from the amount in the General Ledger for the A/P account.

  • CAS Coverage and Disclosure Statement Determination

    For Government contracters looking to determine compliance requirements based upon contract (project) values, Cordia Partners offers this detailed flow chart "CAS Coverage and Disclosure Statement Determination".

  • Requirements for an Acceptable Accounting System

    By ensuring that your accounting system is set up properly, Cordia Partners show you how you can limit risk, reduce costs, and improve the quality of financial and operational information that is critical to make informed business decisions. 

  • Why Use Deltek's Time & Expense?

    Deltek’s Time & Expense is a time/expense entry system designed to provide greater flexibility and control in project/task and expense report management through the electronic entry and approval of employee timesheets and expense reports. Based on 15 user defined tables for data collection and a solid foundation of thoughtful design, Deltek’s Time & Expense (T&E) can meet the needs of a high number of business clients today.

  • Loading Per Diem Rates for Deltek’s Expense Module

    Periodically the United States government will update the per diem rates for locations around the globe. These rates can be lumped into two groups, “CONUS”, which stands for Continental United States (includes all of the states except Hawaii and Alaska), and OCONUS which stands for Outside Continental United States. It is the responsibility of each Expense user to periodically download and upload the new rates to ensure accurate per diem amounts.

  • Calculator: Costpoint Hosting with TBS

    Typically, we save our clients between 25 and 35% in raw costs with every implementation, not to mention internal personnel cost and opportunity costs.

  • Time Events

    The Events in Deltek’s Time are a powerful workflow management tool that can help users direct notifications and e-mail to the proper people an make the daily management of time more efficient.

  • Charge Trees

    There is often quite a bit of confusion for new users with the concepts of Charge Trees. In reality however, Charge Trees do not have to be complex or difficult to manage.