Calculating the full cost of a project is a key to setting up accurate proposals and profitability reports. However, it is a huge challenge for managers to estimate the true cost of a project that includes expenses such as rent, utilities, IT support, fringe costs, bookkeeping, and even managers' salaries. It becomes even more critical with government projects, where government will reimburse you for such costs.
The greatest benefit of our DCAA-on-Demand SuiteApp for Netsuite is that it enables government contractors to meet Federal contractor regulatory compliance requirements. Using our world-class fully customizable solution paired with NetSuite brings one of the most compelling solutions for DCAA compliance in the cloud today.The modules extend NetSuite's Industry Specific Bundle Editions to meet Cost Accounting Standards (CAS) and to comply with DCAA regulations. DCAA-on-Demand benefits from the following::
The DCAA On-Demand solution consists of integrated modules that support the following functionality:
DCAA Compliant Timesheet Module
The DCAA Timesheet functionality prohibits entry of time in advance (vacation, holiday, sick, and PTO are allowed). It also provides mandatory change tracking with employee comments after initial entry, and generates a missing time sheet report and alert to the employee and supervisor when timesheets are not completed on a daily basis. In addition, the module requires an employee “certification” as part of the submittal process and prohibits changes by employee once the time sheet has been approved.
Payroll Cost Allocation Module
The Payroll Cost Allocation module provides an automated solution to allocate labor costs to pro-jects in compliance with the Cost Accounting Standards and DCAA Regulations by:
This module works with your existing payroll provider such as NetSuite Perquest, ADP, or any other payroll provider, as well as with any pay period increments, e.g., weekly, bi-weekly, monthly, or twice a month. It can also accommodate overtime, bonus, commissions, etc. The application is flexible, enabling the user to exclude certain pay types from effective hourly rate calculations, such as overtime and bonus pay; and exclude certain special payments from automated journal entry.
Indirect Cost Allocation Module
Indirect cost allocation is simply a mechanism for determining fairly and conveniently--within the boundaries of sound administrative principle-- what proportions of departmental/organizational administration costs each program should bear. Indirect cost allocations are performed using an indirect cost rate, where an indirect rate represents the ratio between the total indirect costs and benefiting direct costs.
The DCAA-on-Demand Indirect Cost Allocation module enables users to easily and simply:
Allocate the indirect costs to each base using system calculated “actual” rates, “target” rates, “provisional” rates for billing, or optionally “standard” rates for service centers. Daston’s solution is compliant with the Cost Accounting Standards and DCAA Regulations, including Cost of Money al-locations. It works with existing charts of accounts and organizational structure, and supports an unlimited number of user-defined allocation pools or service centers, tiers or processing sequences. In addition, the module automatically accumulates pool costs and bases, and supports allocations based on dollar amounts, labor hours, or units. Pre-configured reports, such as Statement of Indirect Costs and Indirect Cost Trend Analysis, are also included.
Project Status Report Module
The Project Status Report module generates a single report that will provide government contractors with ability to:
In addition, this module interfaces with Daston’s Indirect Cost Allocation module, and is able to report using actual or target indirect rates and month-to-date (MTD), year-to-date (YTD), and/or inception-to-date (ITD) numbers. The module can provide budget vs. actual reporting with variance and features flexible data columns, allowing users to choose up to six data elements to be displayed at a time from a list of fourteen data elements such as Current Month Actual, Prior Month Actual, Current Month YTD Actual, Prior Month YTD Actual, Current Month ITD Actual, etc..Sub-project costs and revenue may also be included in the parent-project.