and Synergy, we would be struggling with government
compliance. They make it
so much easier!”
all the pain points we had… with
indirect rates, unallowable costs,
and our anxiety about complying
with government requirements.”
Compliance Made Easier: Government Contract Cost Accounting
Government contractors who do business with the Department of Defense or other government customers face an enormous challenge: you must provide detailed cost information (direct, indirect, and overhead expenses) for each contract, project, and task in order to remain compliant to government requirements and/or the Defense Contract Audit Agency (DCAA). A solid government contract cost accounting software solution is essential.
In addition, because the majority of your business is on a project basis, you need the capability of tightly integrating project management and financial accounting.
This is why you need a more robust accounting system than most businesses. And why Synergy’s on-premise or hosted solution, Microsoft Dynamics SL, fits like a glove.
Synergy’s Government Contract Cost Accounting Solution
- Build, manage and monitor indirect cost rates
- Allocate costs across multiple cost objectives such as overhead pools and contracts
- Manage direct and indirect time under cost reimbursement contracts
- Perform billing under fixed price and cost plus fee contracts
- Manage time and expense collection in accordance with DCAA regulations
- Monitor and alert government officer of contract status
- Generate government invoices on approved government forms
- Build a traceable document system to drill down from your original purchase requisition through to associated invoices
- Integrate your Government Contract Cost Accounting solution with software your employees already use to increase productivity