and Synergy, we would be struggling with government
compliance. They make it
so much easier!”
Department of Energy…”
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