Manage time & expense without wasting time
Government contractors need to ensure that their billable employees can easily enter their time and expenses on-line. This capability has become a major requirement for government contractors managing multiple contracts in multiple locations. Microsoft Dynamics NAV for Government Contractors is based on the typical workflow government contractor employees experience when working on contracts.
It is flexible enough to consider any variables that may occur, so that time can be reported at the task level or at any acceptable level of the work breakdown structure (wbs). It also includes management tools to ensure that employees enter what they are required to do and can be managed appropriately. The process flows effectively to allow you to properly and quickly invoice your Government client. Plus, with the proper business process you can achieve real time reporting on a daily basis.
The Web-based Time and Expense feature ensures that proper and reliable direct or indirect labor costs are billed to the customer via a system of accurate, timely, and complete postings. Timekeeping is critical for government contractors for the following reasons:
- Most service contracts are labor intensive, with the majority of contract costs comprised of labor charges
- Government auditors need to ensure that the entries are true and correct
- Timekeeping fraud will lead to criminal investigations
- DCAA records significant timekeeping deficiencies during an audit and any indications of discrepancies will result in expanded audits.
- Government contract managers need to ensure that contractors are properly charging and billing labor costs.
- The web time and expense entry component was built to consider all applicable DCAA requirements for automated timekeeping systems.
- Provides for the accurate and current recording of labor hours by authorized employees.
- Controls to ensure corrections to labor charges are accurate and authorized.
- Includes a verifiable audit trail process that collects all initial entries and subsequent changes.
- Web-based time and expense approval to quickly see resource time and projects; easily approve/reject and enter comments for timesheets, expense reports, PTO, and requisitions all from one application.
- Quickly import and validate resource hours that directly drive billing and watch as transactions automatically flow to the G/L for financial analysis.