The Project Accounting component of Dynamics NAV for Government Contractors from PBVS enables detailed accounting and planning for all costs and billings for a project or job. The solution allows companies that provide services to the Federal Government essentially create balance sheets for each project, which you typically cannot do with the average accounting application. Program managers can make decisions now that would be in the best interest of the program. You can look at the contract from an overall perspective and at a very granular level as well. Program managers can drill down for detailed job costing and labor utilization; executive users can easily spot trends with contract profitability and managing indirect rates. It is fully DCAA (Defense Contract Audit Agency) and FAR (Federal Acquisition Regulation) compliant.
Benefits:
Provide executives the ability to drill down to transactions without having to wait until month’s end for reports to be produced.
Monitor progress and profitability of each project and make mid-course corrections to help ensure program success.
Makes great usage of common Microsoft look and feel and is very intuitive; special staff skills are not required.
Out of the box, the solution is structured around Standard Form 1408 (Pre-award Survey of Prospective Contractor (Accounting System)) for pre-award survey of accounting system adequacy. Government contractors need a project accounting solution that will do the following:
Segregate direct costs from indirect costs
Accumulate costs under general ledger control
Provide project cost ledgers that summarize incurred direct and indirect costs by cost element
Indirect costs are allocated to final cost objectives using logical and consistent method
Unallowable costs can be identified and segregated from billed costs to government
Actual costs can be determined on an interim basis (for billing & reporting purposes)
Special types of costs can be identified per terms of contract
Pre-production costs can be segregated from production costs
PVBS has enhanced the foundation of the Dynamics NAV software for government contractors. Fields within Dynamics NAV have been renamed to be government contractor appropriate. Such fields as “task orders” have been added and other features specific to government contractors. The solution will produce actual direct costs by contract or job and represents the appropriate indirect cost centers which collects homogeneous costs, and provides a method of equitable assignment of those costs to final cost objectives. The solution also identifies unallowable costs.
You can define projects and related tasks, work breakdown structures (WBS), project cost elements, labor categories, and contract line items (CLINs). This will help you manage contracts, purchase order numbers, limitation of funds, and contract modifications. Contract information such as task orders, contract amount, and funded amount are readily available.
Microsoft Dynamics for Government Contractors from PVBS provides you the capability to manage multiple invoicing requirements and automate your billing process. This lets your company take control of growth, cash flow, operations, and profits. Whether you are billing fixed price, time & materials, or cost plus contracts, you can systematically generate invoices and record these transactions for future detailed review.
