What is the “Reversal Tool” built by Saunders Consulting Group for Deltek Vision? (versions 7.x)
I just wanted to let you know about another little gem that has come out of a pretty extensive Vision stabilization project I’ve been working on. This particular firm had a couple years’ worth of accounting transactions they needed to correct because of incorrect entries, use of general ledger accounts or other issues. Since the idea of un-posting and re-posting all these entries (in order to re-class items) or even generating re-classing entries for each file is rather daunting… I developed a very useful tool to help us through the process. It’s called at the moment the “reversal tool”.
What does it do? It allows you to:
1. See a list of posted files for any period. (currently only journal entries or cash disbursements)
2. Choose from the list which ones you want to “reverse”
3. Click a workflow button and autogenerate reversing files (journal entries or cash disbursements) for those posted files.
Why is this useful?
Rather than just unposting files (which has its own merit) sometimes it’s better to leave a transaction trail of “what happened” and add additional entries to correct errors that were made. This is the whole idea behind journal entries in the first place. Thus, the reversal tool allows you to “reverse” any Deltek Vision standard journal entry or cash disbursement you’ve posted, by generating a matching file which reverses the debits and credits to the same accounts. This allows you to leave the original file there in case you need to refer back to it.
Some of the cool features:
1. You don’t have to remember any file name, period or posting sequence… it provides you with a list of what’s been posted
2. It re-creates the file if the file was not archived… (What? It re-creates the file? Yes… it does.) This means it works for recurring transactions where Vision doesn’t actually store each file. (annoying)
3. It’s easy peazy, and of course, has a good log to show you what you’ve already done.
Interested in providing this power tool to your accounting department using Deltek Vision?
Get in touch. I’d love to hear from you. See screen shot below to see an example in action… as always names have been blocked out to protect the guilty.
Looking forward to hearing from you soon!