What Is So Unique About a Government Compliance Accounting Solution Anyway?

Visit Website View Our Posts

Compliance, compliance, compliance! As a software professional with over 15 years in the government contracting market, I find the that the fear of failing a DCAA audit is the biggest driver for government contractors to search for a new financial accounting package.  Whether you are a start-up, have won your first cost-plus contract, or are facing the growing pains of international compliance, EVM or ACRN billing, compliance drives your decision.

Does your system meet the following test?

  • FAS 31.2, CAS and FAR -  Does your system address constantly changing federal regulations for Billing, Revenue Recognition, and Audit Ability?
  • Time and Expense Collection  -  Does your system require daily entry, allow for time entry at the phase/task level, and handle JTR requirements?
  • Work Breakdown Structure - Does your system easily automate your WBS as required by each contract?
  • Government Billing - Are your bills automated?
  • Automated Retroactive Rate Adjustments - When your final rates are approved can you automate any adjustments?
  • Indirect Cost Allocations -  Does your system calculate and accurately allocate your indirect rates to projects?
  • Management Reporting - Are your executives and PM’s getting the reports they need in a timely manner?

If you answered no to any of these questions, you could be putting your company at risk of non-compliance,  experiencing inefficiencies, or leaving money on the table.    Microsoft Dynamics SL is the only Microsoft solution with out of the box functionality for government contractors including  an automated work breakdown structure, automated cost allocations, government reports, and bills, along with integration with Microsoft Outlook, Project, and Sharepoint.

As both a Microsoft and Deltek partner for Government Contractors, RSM McGladrey works with our clients as a trusted adviser to evaluate your unique requirements for billing, revenue recognition, reporting, information technology preferences, and business process requirements to match the best solution to your needs, budget, and staff.

By:  Patty Kennington, RSM McGladrey - Gold Certified Dynamics ERP Partner

Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Show Buttons
Hide Buttons