Glossary of Terms for Deltek Vantagepoint

Deltek Vantagepoint

Deltek Vantagepoint is a comprehensive enterprise resource planning (ERP) software designed for professional services firms. It integrates project management, accounting, and business development into a single, user-friendly platform. At EVstudio, we utilize Vantagepoint for all our accounting and project management functions, enhancing efficiency and collaboration across our teams.

To help you navigate Vantagepoint, here is a glossary of essential terms and acronyms, organized alphabetically and with a few links for additional support:

1. Account Types
   Categories that group general ledger accounts, such as assets, liabilities, and expenses.
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2. Asset Management
   Module for tracking, capitalizing, and depreciating company assets over time.
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3. Billing Terms
   Settings that define how invoices are generated for projects.
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4. Business Intelligence (BI)
   Tools and reports that analyze data to support informed decision-making.
5. Chart of Accounts (COA)
   A structured list of a company’s general ledger accounts.
6. Client Relationship Management (CRM)
   Module for managing interactions with current and potential clients.
7. Custom Labels
   User-defined terms that replace default labels to match firm-specific terminology.
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8. Data Dictionary
   A resource detailing all data tables, columns, and indexes in the Vantagepoint database.
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9. Deltek Cloud
   Hosting options provided by Deltek, including Basic Cloud, Flex Cloud, and Enterprise Cloud.
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10. EAC (Estimate at Completion)
    Projected total cost of a project upon completion.
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11. ETC (Estimate to Complete)
    Estimated cost required to finish the remaining project work.
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12. Fee Billing Terms
    Settings that control how clients are billed for project-related fees.
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13. Firms Hub
    Centralized area for managing information about external companies and organizations.
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14. General Ledger (GL)
    The primary accounting record summarizing all financial transactions.
15. Invoice Approval
    Workflow process for reviewing and approving invoices before sending to clients.
16. Key Performance Indicators (KPIs)
    Metrics used to evaluate the success of an organization or project.
17. Labor Codes
    Classifications assigned to employee work hours for billing and reporting purposes.
18. Milestone
    Significant project event or achievement used to measure progress.
19. Multi-Company
    Feature that allows management of multiple legal entities within a single database.
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20. Opportunity
    Potential project or business venture tracked within the CRM module.
21. Overhead Rate
    Percentage applied to direct costs to cover indirect expenses.
22. Phase
    A distinct segment of a project, often corresponding to a specific scope of work.
23. Project Budget Worksheet
    Tool for entering and managing project budgets, including EAC and ETC values.
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24. Project Management (PM)
    Module for planning, executing, and monitoring project performance.
25. Project Plan
    Comprehensive document outlining project scope, schedule, and resources.
26. Project Template
    Predefined project structure used to standardize new project setups.
27. Proposal
    Formal document submitted to a client outlining the approach and cost for a project.
28. Purchase Order (PO)
    Document authorizing the purchase of goods or services.
29. Resource Allocation
    Assignment of personnel and materials to specific tasks or projects.
30. Revenue Forecasting
    Process of estimating future revenue based on current projects and opportunities.
31. Role Security
    Permissions assigned to user roles, controlling access to features and data.
32. SQL (Structured Query Language)
    Programming language used to manage and manipulate databases.
33. Submittal
    Document or sample submitted for review and approval during a project.
34. Task
    Specific work item within a project phase, assigned to resources.
35. Timesheet
    Record of hours worked by employees, used for payroll and billing.
36. Unit Billing
    Billing method based on predefined units, such as hours or materials.
37. User-Defined Fields (UDFs)
    Custom fields created to capture additional information specific to a firm’s needs.
38. Vendor
    External supplier of goods or services to the company.
39. WBS (Work Breakdown Structure)
    Hierarchical decomposition of a project into phases, tasks, and subtasks.
40. Workflow
    Automated sequence of tasks and approvals within a business process.