This includes up to 5 users. Our QuickBooks Alternatives study surveyed over 4, cases of QuickBooks users searching for replacements. Common functionality requirements for contractors replacing QuickBooks included better job costing, project management, equipment management, bid management, and field service management. Talk with a Software Expert…. Construction Accounting Software Get the best construction accounting software for your business.
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Every function in Jonas is fully-integrated, with accounting at its core. This deep integration saves you time and ensures accounting integrity by eliminating the…. CoConstruct is a construction management software that offers one of the most robust accounting software integrations for custom home builders and remodelers.
The solution lets you sync your estimates and push time sheets directly into QuickBooks…. Construction payroll includes certified payroll, multiple jurisdictions, unions, ACA reporting, and…. Starting Price.
With ComputerEase you can control costs during the job, produce more accurate estimates; improve job profitability, control vendor and subcontractor costs, manage cash flow, and better know your business from a financial point of view.
ComputerEase has…. QuickBooks for Construction offers cloud-based construction bookkeeping, allowing you to easily track time and expenses for each project. The solution can run valuable profit and full job cost reports to always know where you stand via automated…. PENTA is a construction project management software with integrated job cost accounting and project administration.
PENTA delivers the right combination of accounting functionality to meet all financial management challenges faced by engineers and…. Nothing is further from the truth. It is a first step to get accounting software that is designed to meet FAR and DCAA requirements but the system set up around that software, the consistent operation of that system and the retention of supportable records is also required to pass a DCAA audit. The government wants to see a full system and the compliant operation of the system to assure that they are not overcharged for the goods and services that they purchase.
In addition, since they are the single largest purchasing entity in the United States, they also want to see that they get the "best deal". These seemingly simple goals have resulted in some complex regulations for Contracting Officers and also for government contractors. Today I would like to take just a brief look at the software packages that would be available to a government contractor, especially the small business, to form the backbone of their compliant business system for doing business with the Federal Government.
The accounting software package forms the backbone of a government contract accounting system. The charging of direct labor attracts the greatest audit scrutiny and government auditors closely monitor how well contractors maintain a variety of "labor distribution" reports. The system you choose must accurately capture and report labor costs, provide reports that identify hours to be assigned to contracts, demonstrate that labor time entered via timekeeping is consistent with labor hours and costs that are assigned to contract cost reports and the system can demonstrate a consistent and accurate flow of information between timekeeping, job costs, the general ledger, subsidiary ledgers and financial statements.
For example, effective rates by payroll period should be computed and charged to contracts if the contractor chooses to follow that methodology. Tracking employee expenses is also an important area for audit scrutiny with the objective of verifying that direct and associated indirect costs do not include unallowable costs.
The system must allow expenses to be recorded in a manner consistent with IRS requirements, including the specification of destination, purpose of trip, travel companions, etc. The system should provide expense and travel reporting controls similar to those in timekeeping e. It should provide clear visibility of allowable and unallowable expenses so unallowable costs can be screened and charged to appropriate accounts but so employees can be reimbursed for all their expenses.
The system should provide multiple setup options so indirect labor can be assigned to departments, cost centers, central service, service centers, and distinct projects e. The timekeeping feature must allow time tracking for each indirect cost category. The system should accommodate the set up of an unlimited number of primary and intermediate cost pools for calculating indirect expense rates.
There should be a variety of methods available to adjust cost pools including constants, formulas, or general ledger account balances.
Finally, for each cost pool the system should provide a supporting schedule for use in Incurred Cost Proposal submittals. The system should let you assign labor costs to desired indirect cost groupings and accumulate non-labor costs into these groupings. The system should end the need to maintaining separate spreadsheet models that require tedious importation of cost and, instead, provide for automatic generation of indirect cost data and computation of indirect rates. Cost pools and bases must tie to general ledger balances.
It should let you distribute totals of one pool to other pools, as well as distribute certain accounts to other pools. Once costs of both the pool and base are accumulated, the system should compute indirect cost rates. It should generate numerous reports, incurred cost proposal schedules, and identify and adjust unallowable costs. Though interest costs are unallowable, you can bill the government for the cost of money following the Facilities Capital Cost of Money guidelines.
The system you choose should automatically calculate the FCCOM at any cost center level in which the assets belong and provide accurate reporting such as the Facilities Capital Cost of Money Factors Computation report. It should be easy to assign provisional rates to project charges as a percentage, per unit, or fixed amount. If the provisional rates change during the life of the contract, the system should allow you to track the starting and ending date or effective period for each rate.
It should provide a comparison of the indirect expense rate to the provisional rate for reporting and analysis. And finally, the application should automatically create a work in process transaction to record the difference between the actual and the provisional rate. In addition to just good project profitability analyses, the government may impose a variety of project data requirements on specific contracts or task orders so the system needs to generate a multitude of project data reports.
Estimate-to-complete computations, actual versus budget analyses on costs and time, project status, employee management and even project profitability reports. Accounting for leases embedded in service contracts 2. Subscription-based information technology arrangements accounting for government entities 5.
IFRS and cloud computing contracts 6. Looking ahead 7. Free lease accounting tools. Accounting for leases embedded in service contracts Under the new lease accounting standards ASC , IFRS 16 , and GASB 87 , organizations are required to examine their service contracts such as logistics, security, and data storage , and assess whether those agreements contain any embedded leases.
The equipment portion of this contract meets all of the standards required for an embedded lease: The underlying assets are specifically identified.
Company A has control of the underlying assets. Company A obtains substantially all of the economic benefits of the underlying assets.
LeaseQuery offers an embedded lease test to evaluate each of your contracts for embedded leases: If you find a contract that contains a lease, use our lease asset tracker to keep a detailed record.
Prior to the issuance of ASC , two different accounting treatments for software contracts existed: Contracts containing a software license : organizations could capitalize the cost of the software license and its implementation costs. Service-only software contracts : the guidance was a little more unclear. Subscription-based information technology arrangements accounting for government entities Similar to private organizations, government entities vary widely in their approach to accounting for cloud computing contracts.
Check out our free lease accounting tools.
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