Accounting System
PROCAS Accounting is a financial and project cost accounting system, all-in-one.
It was developed for service-based government contractors to provide them with a powerful tool for making informed business decisions. The software includes built-in financial, project backlog, and profitability reports, all while supporting Defense Contract Audit Agency (DCAA) compliance.
PROCAS Quick Start means that setup information that meets DCAA requirements is already built into the software saving you valuable time. We understand that not every government contracting company is the same so our team of professionals will help customize the setup specific to your company. Learn more about DCAA Compliance.
Accounting Dashboard
Make informed business decisions with easy access to your current cash, accounts receivable, accounts payable balances, financial statements, and financial ratios (KPIs).
Labor Distribution and Utilization
Labor flows right from the employee’s timesheet into the accounting system, where you can review labor distribution and utilization reports.
Chart of Accounts
DCAA compliance is simplified with a customizable default chart of accounts.
Financial Journals
Recording transactions in any of the journals is available in real-time on all financial and project reports.
Financial Accounting
PROCAS Accounting provides useful financial reports right out of the box to help you manage your business.
Our real-time accounting system records financial information directly to the general ledger, eliminating the need for batch processing. The system maintains full details from every period—even after the period or year has been closed.
- Full Disclosure General Ledger
- Default Chart of Accounts
- Budgeting
- Accounts Payable
- Accounts Receivable
- Labor Distribution
- Labor Utilization Reports
- Financial Statements
Automated Billing
Invoicing for Cost Plus Fixed Fee (CPFF), Time and Materials (T&M), and Firm Fixed Price (FFP) comes right from the General Ledger. Government Forms 1034/1035 and many other standard formats are included and are easy to customize.
Project Status Report
Record your project budgets so you can review funding backlog by project at whatever level of detail is desired.
Indirect Rates
Calculate your actual, budgeted, and projected indirect rates at any time. Support reports are available in summary and detail and include a description of your rate structure for transparency.
Job Cost Ledger
Managing your project costs is simplified with Job Cost Ledger and Project Cost Reports that can display as little or as much detail as you need.
Project Accounting
Managing your projects can be easier with the right tool. The PROCAS accounting system helps you record your project costs so that nothing slips through the cracks. Every transaction recorded to a direct account is validated to ensure a project is associated with it. You can calculate and apply your indirect rates at the end of each month to get an accurate picture of your profitability by project.
Indirect rate support reports tell you exactly what’s in the pool and base for each rate. The point and click indirect rates setup makes it easy to set up your indirect rate structure.
- Automated Billing
- Indirect Rate Calculations & Allocations
- Job Cost Ledger
- Project Cost Report
- Project Status Report
- Project Funding Backlog
- Incurred Cost Submission Support
Compliance
The Federal Acquisition Regulations (FAR) are the requirements for doing business with the government. The DCAA helps the government ensure you are meeting the accounting system requirements outlined in the FAR. PROCAS Accounting is designed to help you meet those requirements.
- Designed with Generally Accepted Accounting Principles (GAAP) in mind
- Segregates direct costs from indirect costs
- Identifies direct costs by contract
- Supports the allocation of indirect costs in a logical and consistent manner
- Accumulates cost directly to the general ledger
- Distribution of direct and indirect labor costs are recorded automatically from PROCAS Time
- Supports monthly job cost ledger reporting
- Excludes unallowable expenses from indirect rate calculations