Why Government Contractors are Upgrading from QuickBooks to PROCAS
QuickBooks is a user-friendly accounting system that accommodates simple fixed-price and time & material contracts but lacks many features that help government contractors achieve DCAA compliance. That’s where PROCAS comes in. If you’re a government contractor required to meet DCAA requirements in accounting, timekeeping, and project management – consider switching to PROCAS. Our software is designed and built to help you achieve DCAA compliance.
PROCAS vs. QuickBooks
Includes Features Essential to Pass an Audit (Audit Friendly)
Purpose-built for DCAA Compliance requirements
Meets CMMC Level 1 Requirements
Hosting environment meets the standards for NIST 800-171
Fully Integrated Timekeeping, Expense Reporting, & Management Reporting (No Add-on Systems)
The setup of people and projects are centralized to eliminate any redundant data entry. Time and expense data is automatically converted to financial transactions
Bank Integration Assigns Direct Expenses to Contracts
Create rules to assign recurring direct expenses to project, task, CLIN, & Customer
Integrated Project Based Accounting
Integrated job cost ledger with job costing by project, task, and CLIN
Project Funding and Reporting
Project budget reporting with revenue earned and funds remaining calculations
Project Profitability and Reporting
Integrated job cost ledger calculates profitability at multiple levels, including employee level
Project Cost Tracking that Meets Government Reporting Requirements
Direct costs are tracked by project inception-to-date
Invoicing System that Meets GovCon Requirements
Uses information from the integrated Timekeeping and Expense Reporting. Supports complex cost reimbursable contracts (CPFF), in addition to Time & Materials (T&M) and Firm Fixed Price (FFP) contracts. Handles provisional to actual true-up invoicing
Standard Chart of Accounts Designed for DCAA Compliance
Accounts are identified as either direct or indirect, providing proper segregation of costs and integration with indirect rates
Built-in Indirect Rate Calculations
Point and click rate structure setup is used to automatically calculate and allocate indirect rates. Rates are stored by year. Supports provisional, budgeted, projected, and actual indirect rates. Final fiscal year indirect rates stored for future reporting needs
Incurred Cost Submission Support
Includes rate support schedules A-F as well as schedules H, I, K, & L
