When Can Too Much Access Put You and Your Company at Risk?

Companies, especially small businesses, often need employees to wear multiple hats and perform business functions in multiple areas. When assigning tasks and providing system access to staff management might not think about a potential conflict in the functions being assigned. While it’s nice at times to have a jack of all trades it can also be an audit issue.

Segregation of controls is something that most people don’t think about or consider. In fact, it’s not unusual to find that people might not be aware of what access could cause a potential conflict. If strong segregation of controls are not in place, it could be identified as a find during an audit. This can not only put the employee at risk but the company as well. Limiting access and maintaining segregation is part of good business and accounting practices. The question is, what creates or causes a problem with system access? How do you protect yourself and your company?

If you are a Deltek Costpoint 7 user there’s an application that once configured can assist you in identifying potential conflicts that could create an issue with segregation of controls. Infotek Consulting LLC. can review your current system security and user access, identify where there might be a potential risk and assist you and your company in establishing and maintaining strong, efficient segregation of controls that will help protect everyone. 

Time and Expense 9 (TE) – Creating a Paperless Audit Trail for Employee Timesheets and Business Travel Expenses

Every company is subject to audits. Government contractors have to deal with annual financial audits as well as audits conducted by various government organizations. No one enjoys audits, it’s no party that’s for sure. Audits create a lot of additional work and stress for staff. Then you receive the infamous, PBC list and begin your search to locate all of the items on the list. You are faced with locating the requested pieces of paper amongst boxes and file cabinets full of paper files.
We’ve all been there, either you can’t find a voucher and/or the back-up is missing from the A/P package, you can find every timesheet for an employee except for the one that auditors have requested. When you have employees who are heavy travelers, your AP files become overloaded with travel expense receipts and back up. While modern technology has excelled by leaps and bounds, many companies still have tons of paper files. And if you’re like most companies, the paper files seem to multiply over time and before you know it you have to rent a storage unit and pay to store paper.
Time and Expense 9 will not only provide a mechanism to track employee timesheets it also allows for receipts associated with an expense report to be stored on your companies server. TE9 provides an audit trail for all changes and actions associated with the timesheets and expense reports.
If you’re tired of spending endless hours trying to locate timesheets and business travel records TE9 could be the answer. It’s time to make a change and start using modern technology to not only record labor but also to process expenses associated with business travel. Let modern technology allow staff to spend more time processing costs and less time trying to locate paper files. Let us help you survive your next audit by implementing Time and Expense 9. 

Period defaulting in Costpoint 7

If you typically process a high volume of accounts payable vouchers, journal entries or other transactions in a given month, setting up a default period may make sense for you. It will save key strokes and speed data entry.
The easiest method to set this up is to selecting the “Options” item from the drop down menu located at the top of your screen, and then select “User Preference”, the Configure User Preference screen will now be displayed. From here select the “Change Default Period” link, located in center right of the screen. Costpoint lists 41 modules that are available for period data entry defaulting. Only select the modules that you desire defaulting for and enter a year, period and sub-period, then save the record. You will have to log out and back into Costpoint for the new default period to become activated.
One warning is that we stay cognizant of the period being defaulted onto the transaction screen when multiple periods are open at the same time, since transactions will frequently belong to a different period than the default. Also remember to change the default when the majority of transactions are shifting to the next period.

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User Security in Costpoint

How good is your company’s user security when it comes to accessing sensitive Costpoint data? It’s an all to frequent occurrence that CFO’s and CTO are surprised by the holes in a company’s user security, such as data entry clerks having full access to control and configuration screens, or access to employee salary and personnel data when no need exists.

Here are some questions to ask when evaluating your company’s security state:

  • How long ago was the security model designed? Was it converted over from an earlier version of Costpoint?
  • During the Costpoint implementation was user security give full attention or did it get pushed to the backburner to accommodate other tasks?
  • Has there been staff turnover, is new user security setup cloned from exiting users?
  • Are override rights being used excessively?
  • Does a policy exit that details the controls associated with user access to Costpoint, is it being followed, and is there clear delineation of who is responsible?
  • When was the last security or policy review conducted? Costpoint 7 has added additional security functionality that can be used to simplify maintenance and tighten it up. The first step should be a well thought-out security review.

Infotek has conducted many security reviews and can employ its cost effective proven methodology in reviewing your system and providing best practice recommendations.

How your entire organization can benefit from importing credit card transactions into Deltek Time & Expense™

What is one of the top complaints within your organization concerning expense reports? Most likely one of those complaints would be from the users on how long it takes to fill out the expenses on the report. Another common complaint may be from your accounting department that expenses are not processed in a timely manner, particularly company paid expenses that employees are slow to complete. Importing credit card transactions into Deltek Time & Expense™ can alleviate these frustrations.

Deltek Time & Expense™ has a feature, Batch Expenses, which allows the ability to import batch expenses, or “Credit Card Feeds”, for American Express and/or Visa credit card transactions. Importing credit card transactions make entry of expenses much easier for the user, saves time on entry, and cuts down on common data entry mistakes. The transactions can be imported as often as necessary: monthly, weekly, even daily. Once the transactions are imported and posted, they are available for the user to select when entering expenses on an expense report.

A list of outstanding expenses will be the first screen displayed once the user selects a category on an expense report. The list will contain all outstanding expenses for that particular category, such as lodging or airfare. After selecting the outstanding expense, the user will be taken through the expense with required fields already completed so that the only thing that the user may have to identify would be the charge type the expense should be charged to. Once the transaction is applied to an expense report, it is no longer considered outstanding and will not display to be applied again.

An up to date balance of outstanding expenses can be helpful in reconciling company paid expenses. For faster expense processing, an outstanding aging inquiry can be used in Deltek Time & Expense™ to notify employees to apply expenses to expense reports so that they can be processed and recognized by the project in Costpoint and/or GCS. The outstanding expenses also are displayed on the employee’s MyDesktop within Deltek Time & Expense™. Past due expenses will display in Red to remind the employee that they need to apply the expense to an expense report. The employee may delete the outstanding expense from the desktop if they already claimed the expense by manually entering on an expense report before the transaction was imported. After applied to the expense report, the transaction is no longer considered “outstanding” and is removed from the employee’s desktop as well as no longer displayed to apply to other expense reports.
I am sure that your employees will appreciate the ease of entering the imported transactions on the expense report and your accounting department will appreciate the expedited processing for recognition of billable expenses.

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Costpoint Multi-company Comparison

A company’s setup of multi-company depends on the processing needs of the organization and its associated organization codes. There are several ways to set up a new company:

  • One single company containing multiple organizations where the organizations represent separate taxable entities or geographical locations.
  • Single database with each company set up as a separate company for each entity and the organizations represent different groups, regions, or other user-defined criteria within the multiple companies. NOTE: This structure is necessary if the companies have different functional currencies.
  • Multiple databases with each company set up as a separate company for each entity and the organizations represent different groups, regions, or other user-defined criteria within the multiple companies. NOTE: This structure allows unique set up and structure for each company.

Please find attached matrix for most popular options:

Multi Company Matrix


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