Topic: Aerospace & Defense Companies
Subject: Accounting Software for Government Contracts
Submitted on 10-09-12 6:19 pm
Message:
I am seeking input from fellow members who have experience with accounting software that complies with FAR and satisfies DCAA audit requirements. This is for a small software and services business that operates in both the private and public sectors. The business currently uses Quickbooks.
I welcome any recommendations or comments regarding add-on modules for Quickbooks (timekeeping/labor distribution, job cost), or new standalone software solutions, or people/firms who may be able to help.
Thank you.
Debrah
Message:
I am seeking input from fellow members who have experience with accounting software that complies with FAR and satisfies DCAA audit requirements. This is for a small software and services business that operates in both the private and public sectors. The business currently uses Quickbooks.
I welcome any recommendations or comments regarding add-on modules for Quickbooks (timekeeping/labor distribution, job cost), or new standalone software solutions, or people/firms who may be able to help.
Thank you.
Debrah
Replies
Subject: Re:Accounting Software for Government Contracts
Submitted on 10-11-12 8:36 am.
Message:
The key requirement in the FAR is the ability to track cost by project (job order accounting). In my 30+ yr career, i have found that Deltek Costpoint is probably the best equipped s/w package to do this job. It is 100% project oriented (even G&A accounts are tied to a project - albeit a G&A one). Think of the type of systems your CPA firms use. You have the same requirement as they do - tracking cost to a client/project (you can set up projects in Costpoint at a CLIN or SubClin or even a WBS level). The system has an associated timekeeping module (web based) that captures employee time at teh project level and has the associated bells and whistles for account/project validation (or even if the employee is defined to charge the particular project) upfront. You also have to do things like set up unallowable accts on your G/L, but that is not hard. Costpoint's shortfall is in the manufacturing arena, where operationally you likely want to track cost at a partnumber level, not a project, but it sounds like you are more in the services mode so it should fit your company.
Message:
The key requirement in the FAR is the ability to track cost by project (job order accounting). In my 30+ yr career, i have found that Deltek Costpoint is probably the best equipped s/w package to do this job. It is 100% project oriented (even G&A accounts are tied to a project - albeit a G&A one). Think of the type of systems your CPA firms use. You have the same requirement as they do - tracking cost to a client/project (you can set up projects in Costpoint at a CLIN or SubClin or even a WBS level). The system has an associated timekeeping module (web based) that captures employee time at teh project level and has the associated bells and whistles for account/project validation (or even if the employee is defined to charge the particular project) upfront. You also have to do things like set up unallowable accts on your G/L, but that is not hard. Costpoint's shortfall is in the manufacturing arena, where operationally you likely want to track cost at a partnumber level, not a project, but it sounds like you are more in the services mode so it should fit your company.
Subject: Re:Accounting Software for Government Contracts
Submitted on 10-12-12 4:27 am.
Message:
Thank you, Steve for your input. I'll look into this. Worked with Deltek a while back but in a much larger environment.
Message:
Thank you, Steve for your input. I'll look into this. Worked with Deltek a while back but in a much larger environment.
Subject: Re:Accounting Software for Government Contracts
Submitted on 11-04-12 10:42 am.
Message:
Hi,
I am not sure that Quickbooks would satisfy DCAA requirements, it just isn't robust enough. Two other possible solutions that are mid market software are Great Plains Dynamics and Deltek. Most auditors are familiar with both packages so that can give you a leg up. With any software package the most critical issue for the auditors is being able to trace the "source" documents through the system.
Good Luck!
Message:
Hi,
I am not sure that Quickbooks would satisfy DCAA requirements, it just isn't robust enough. Two other possible solutions that are mid market software are Great Plains Dynamics and Deltek. Most auditors are familiar with both packages so that can give you a leg up. With any software package the most critical issue for the auditors is being able to trace the "source" documents through the system.
Good Luck!
Subject: Re:Accounting Software for Government Contracts
Submitted on 11-12-12 7:16 pm.
Message:
Debrah,
We are in the same boat as you and after researching different accounting software we have decided to go with PROCAS. The sofware applications mentioned by Steve and Sharon are excellent (based on feedback that I have received), but PROCAS is much more economical and the initial outlay is only around $5,000 and we pay $600/month for two users. Other softares require an investment of $50,000. Good Luck
Hani Wazzan
Message:
Debrah,
We are in the same boat as you and after researching different accounting software we have decided to go with PROCAS. The sofware applications mentioned by Steve and Sharon are excellent (based on feedback that I have received), but PROCAS is much more economical and the initial outlay is only around $5,000 and we pay $600/month for two users. Other softares require an investment of $50,000. Good Luck
Hani Wazzan
Subject: Re:Accounting Software for Government Contracts
Submitted on 11-29-12 7:07 am.
Message:
Another one to look at is JAMIS. I used it for 10+ years on our own server. I am now working from Texas and installed Jamis in January and we now operate it over the web and pay a monthly service fee. Their support staff is very good, the product is very good and it is significantly less expensive than CostPoint. I have also used Deltek GCS Premier. It might be worth contact Jamis and ask for a demo. They are located in San Diego.
Tom Johnson
Message:
Another one to look at is JAMIS. I used it for 10+ years on our own server. I am now working from Texas and installed Jamis in January and we now operate it over the web and pay a monthly service fee. Their support staff is very good, the product is very good and it is significantly less expensive than CostPoint. I have also used Deltek GCS Premier. It might be worth contact Jamis and ask for a demo. They are located in San Diego.
Tom Johnson
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