New White Paper - Developing a Chart of Accounts for Federal Contracting Compliance: Requirements and Recommendations



now available

Why Government Contractors are Upgrading from QuickBooks to PROCAS

QuickBooks is a user-friendly accounting system that accommodates simple fixed-price and time & material contracts but lacks many features that help government contractors achieve DCAA compliance. That’s where PROCAS comes in. If you’re a government contractor required to meet DCAA requirements in accounting, timekeeping, and project management – consider switching to PROCAS. Our software is designed and built to help you achieve DCAA compliance.

PROCAS vs. QuickBooks

Includes Features Essential to Pass an Audit (Audit Friendly)
Purpose-built for DCAA Compliance requirements

Meets CMMC Level 1 Requirements
Hosting environment meets the standards for NIST 800-171

Fully Integrated Timekeeping, Expense Reporting, & Management Reporting (No Add-on Systems)
The setup of people and projects are centralized to eliminate any redundant data entry. Time and expense data is automatically converted to financial transactions

Bank Integration Assigns Direct Expenses to Contracts
Create rules to assign recurring direct expenses to project, task, CLIN, & Customer

Integrated Project Based Accounting
Integrated job cost ledger with job costing by project, task, and CLIN

Project Funding and Reporting
Project budget reporting with revenue earned and funds remaining calculations

Project Profitability and Reporting
Integrated job cost ledger calculates profitability at multiple levels, including employee level

Project Cost Tracking that Meets Government Reporting Requirements
Direct costs are tracked by project inception-to-date

Invoicing System that Meets GovCon Requirements
Uses information from the integrated Timekeeping and Expense Reporting. Supports complex cost reimbursable contracts (CPFF), in addition to Time & Materials (T&M) and Firm Fixed Price (FFP) contracts. Handles provisional to actual true-up invoicing

Standard Chart of Accounts Designed for DCAA Compliance
Accounts are identified as either direct or indirect, providing proper segregation of costs and integration with indirect rates

Built-in Indirect Rate Calculations
Point and click rate structure setup is used to automatically calculate and allocate indirect rates. Rates are stored by year. Supports provisional, budgeted, projected, and actual indirect rates. Final fiscal year indirect rates stored for future reporting needs

Incurred Cost Submission Support
Includes rate support schedules A-F as well as schedules H, I, K, & L

Interested in Learning More?

Talk to our software consultants to learn how PROCAS can support your government contracting business. Find out how PROCAS scales with your company’s growth and leverages integrations to streamline your business processes.

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