RGCI-GL Budgeting in Unanet - Copy

The budgeting process for any company can be a daunting process.  But, like most things, hard work pays off, and establishing a detailed budget is a critical element to ensure a healthy and profitable company.

For Government Contractors, budgeting at the project level is generally the main focus.  This is also a key attribute in the budgeting function within the Unanet accounting system.  However, it is helpful to remember that budgeting at the company level for company-wide expenses is also available and equally as important.

Reports

Within the standard reports, income statements and balance sheets have a comparison column option so there is the ability to report on budget versus actual costs. The data integration with Unanet provides users with the ability to analyze and improve management and budgeting. GL budgets can be entered for both the balance sheet as well as the income statement accounts.

Company Budget Options

Another benefit of entering the company budget into Unanet is that you can run the indirect rate calculation based on budget for a time period to ensure that the cost pool setup is accurate, and the rates are calculating as designed. The rates can also be monitored on a monthly basis if fluctuation throughout the year is expected.

Multiple versions of a company budget can be entered into Unanet to provide for multiple scenarios. The budget is performed at the account level, but the company can decide how detailed the budget should be.

Creating GL budgets in Unanet is a quick and easy process that can be done within the User Interface or via import/export. Redstone GCI offers expertise to help you set up and utilize your Unanet platform effectively. Visit the Knowledge Center (kc.unanet.com) for more information or I’ll be happy to speak with you on this topic.

 

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Written by Katie Donnell

Katie Donnell Katie is a Consultant with Redstone Government Consulting, Inc., located in our firm’s Huntsville, Alabama office. Her areas of expertise include supporting government contract businesses with a special focus in DCAA-compliant QuickBooks, Deltek GCS, and Unanet accounting operations and project management functions. She is also a QuickBooks ProAdvisor, assisting many small businesses in maintaining a compliant accounting system. She also provides risk assessments, indirect rate calculations, proposal support, and audit support for our clients. Professional Experience Ms. Donnell’s experience includes government contract accounting in QuickBooks, Deltek GCS, and Unanet. Katie assists our clients with the maintenance and development of DCAA compliant accounting systems as well as various other client services. She has prior experience with the implementation and operation of many types of software, such as Deltek GCS, QuickBooks, Unanet, SpringAhead, Deltek T&E, ADP, Paychex, and QB Payroll. In her role with Redstone GCI, Katie primarily assists clients with preparation and defense of DCAA audit activities including SF 1408 Pre Award Accounting System Audits, provisional billing rate submission, development of forward pricing rates for proposals, incurred cost submission preparation and development and design of policies and procedures necessary to support an adequate (DCAA-approved) accounting system. Katie serves as the primary point of contact for many small business clients in the area of government cost accounting and assists on a monthly basis with the close of those contractor’s accounting systems and indirect rate calculation. Her industry experience provides a unique insight to clients looking for a consultant to become an integral part of their team. Prior to joining Redstone Government Consulting, Inc., she worked in public accounting as well as privately for a local government contractor. During that time, Katie provided support for various implementations for timekeeping systems as well as accounting system implementations. She also operated and maintained a compliant accounting system for multiple small businesses. Education Katie graduated with a Bachelor of Science Degree in Accounting from The University of Alabama in Huntsville in 2010, where she was President of Beta Alpha Psi (Accounting and Finance Honors Fraternity). She received her Master’s in Business Administration (MBA) from University of North Alabama’s in 2014, graduating Cum Laude.

About Redstone GCI

Redstone Government Consultants are a team of the most senior industry veterans and the brightest new talent in the industry. Many have held senior government positions including leadership roles in the DCAA. Our new talents bring significant accounting and software experience along with fresh perspectives, inspiration and energy to our team. Through our leadership and combined experience, we provide a unique perspective, bringing both government and contractor proficiencies to bear and ensuring rock-solid government compliance for our clients.

Topics: Compliant Accounting Infrastructure, Accounting & Billing System, Unanet