In real-time, the team can see labor and purchasing commitments. Not only can they run the detailed reports on their own, they can export to Excel to do additional analysis. Reports can then easily be scheduled, produced and delivered, and the Inbox of the person who needs to act on the information.
Primary concerns to executives at government contractors that provide services to the Federal Government are contract profitability, compliance, and employee utilization. The ability for an ERP solution to provide effective reporting on the above begins with an effective and clear project accounting functionality. Everything a government contractor needs to manage project accounts is included in Microsoft Dynamics NAV for Government Contractors from budgeting, to invoicing, to managing a variety of cost pools.
Benefits of project accounting in Microsoft Dynamics NAV for Government Contractors include the elimination of tedious and expensive paper-based approvals and the streamlined process through workflows which allows you to focus on completing your project on time and within budget. The solution allocates expenses in real-time to increase data accuracy and timely completion of reporting. It is compliant with what DCAA auditors expect to see, as well as FAR and CAS standards.
Web-based Role Center to track funding and budgets; resource utilization; tasks; notifications; timesheets
- Reduces time spent creating manual reports, comparing information, and executive manual labor-intensive analysis
- Internal controls to control visibility of projects/job and tasks for specific PMs, Admins, Resources. Gives greater control for PMs on their projects; improve performance and insight into project funding, spending, budgeting, and utilizations
- MS Project Integration with Dynamics NAV allows PMs to easily integrate and send data to/from Jobs in Dynamics NAV. Integration with MS Project allows for reduced time spent between two applications; automate tasks, resource assignments and schedules between Dynamics NAV and Project with the integration.
- SharePoint integration to display and/or customize Dynamics NAV pages on SharePoint; set up team sites that integrate, store, retrieve data from Dynamics NAV. Create web-based portals or information center with SharePoint integration; create time sites to increase project visibility and communication and standardize PM processes with the ability to easily retrieve data on projects/company performance from Dynamics NAV.
- Create detailed budgets and forecasting for projects, reduce time spent locating/finding information on project performance; automate reporting and decision making with real-time results
- Detailed, drill-down capability to gain greater access to important data and metrics for reporting
- Greater control on resource planning, reporting and decision making
- Funding and budget control – set alerts, not to exceed, restraints on tasks. Decrease funding/budgeting issues with controls, visualizations, and real-time reporting on the current status of projects and tasks; reduce time forecasting spend plans by using the Project Spend template for greater visibility into project performance and forecasting.
· Segregate direct costs from indirect costs
· Accumulate costs under general ledger control
· Provide project cost ledgers that summarize incurred direct and indirect costs by cost element
· Indirect costs are allocated to final cost objectives using logical and consistent method
· Unallowable costs can be identified and segregated from billed costs to government
· Actual costs can be determined on an interim basis (for billing & reporting purposes)
· Special types of costs can be identified per terms of contract
· Pre-production costs can be segregated from production costs