RGCI-Unanet_ Maximizing your PlanningUnanet’s robust project management and budgeting features are primary reasons some of our clients choose Unanet as their accounting system of choice. One of our main goals during an Unanet implementation is to utilize as many of the project management features in the system as possible and train our clients on maintaining the correct information to manage their work properly. What are your project management and budgeting needs? The following options are available in Unanet:

 

Not All Budget Needs are the Same. It Varies Between Contract Billing Types.

For example, on a Time and Material (T&M) contract, it is beneficial to budget labor categories and/or people, so that management can strictly limit hours reported on a timesheet based upon the assigned budget. This is an excellent control for T&M contracts that are awarded and billed based on a rate for hours worked.

On the other hand, for a Fixed Price effort, other tools should be used for project management since hours worked is (in most cases) not a strict contractual requirement. The profitability of Fixed Price contracts needs to be monitored since profit is not a fixed amount. It is essential to make sure that the costs incurred to support the fixed price effort are within the anticipated and profitable range.

For a cost-plus fixed-fee billing type contract, the profitability is a less critical metric to monitor, since it is a fixed amount. Cost type contracts generally contain FAR Clause 52.232.22- Limitation of Funds. This requires a contractor to notify the customer when they expect to reach 75% of the total funding in 60 days. To comply with that requirement, project managers should track burn rates, estimated-to-complete, and estimated totals for cost-type contracts.

Some Reports are Key Reports, Regardless of the Contract Mix

The Resource Allocation Report is a person planning/budgeting tool that gives managers the customizable matrix to ensure that their employees are not over-worked or under-whelmed. What month is Person B going to run out of billable hours? Will I be able to complete the hours requirements for this contract within the POP, or do I need to ask for an extension? The configuration of this report is tantamount to the success of an Unanet Portfolio license type. This report can also function as another purpose by tracking actual versus expected hours by the person for a year-to-date time.

The Performance Line and Bar Chart can be run for hours, time, and/or expenses. It compares the plans, budgets, and actuals at a periodic interval within a bar chart as well as cumulatively with a line graph. The customizability makes this report flexible enough to be useful on every type of billable project.

If you would like assistance with your project management plan and/or assist with key reports for your management, please let us know how we can help! The Redstone GCI team can provide you with a variety of methods to support you with your Unanet software.

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Written by Katie Donnell

Katie Donnell Katie is the Unanet Practice Lead at Redstone Government Consulting, Inc. based in our Huntsville, Alabama office. Her areas of expertise include supporting government contract businesses with a special focus in DCAA-compliant Unanet Time and Expense Tracking, Project Portfolio and Financials. QuickBooks, and Deltek GCS. Katie is a QuickBooks ProAdvisor, Certified Unanet Systems Implementer and has completed the Unanet Advanced Project Management training. Katie was one of the first Unanet Certified Implementers and was part of the initial pilot offering to non-Unanet consultants. As part of her certification process, Katie invested over 300-hours of instruction, out of class database development time and testing to obtain her certification. Since certification, Katie has assisted numerous Redstone GCI clients with implementation and post-implementation support services. Katie is frequently called upon by Unanet to join their implementation teams as an external resource and is considered a subject matter expert in the implementation of all Unanet software offerings. In her role with Redstone Government Consulting, Inc., Katie not only provides software systems expertise, but also frequently assists clients with preparation and support of DCAA audit activities including SF1408 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 government cost accounting/compliance and assists monthly with the close of those contractor’s accounting systems and reporting to program management and executives. Her industry experience, software systems expertise and compliance knowledge provides a rare combination of knowledge to clients looking for a consultant to become an integral part of their team. Professional Experience Prior to joining Redstone Government Consulting, Inc., Katie worked in public accounting as well as small to mid-sized government contractors. She has prior operational experience with the many types of software such as Unanet, Deltek GCS, QuickBooks, SpringAhead, Deltek T&E, ADP, Paychex, and QB Payroll. Education Katie earned a Bachelor of Science degree in Accounting from The University of Alabama in Huntsville in 2010, where she was President of Beta Alpha Psi (an honor organization for finance and accounting students and professionals). She received her Master of Business Administration (MBA) from The University of North Alabama in 2014, graduating Cum Laude. Decades of Consulting, Training and Helping Government Contractors Succeed Redstone GCI offers a variety of services for large and small government contractors including evaluation, education and training, monitoring and DCAA audit preparation. Through our consulting and training programs, government contractors develop and learn to maintain compliance processes that help them succeed by mitigating risk and maximizing profitability. Our consulting team is comprised of senior leaders from government agencies and industry executives creating balance and an informed approach to our client services. Our services span the entire government contract lifecycle from proposal assistance, accounting, audit readiness, purchasing, project controls, contract administration, system implementation through to contract closeout. We specialize in preparing contractors for growth through our deep knowledge of common pitfalls companies face as they progress from small business in CAS, DFARS Business Systems and other common gates to contractor growth. In addition to almost 30 full-time consultants we also maintain a trusted network of independent contractors and other service providers who work with our team on specialized areas like ITAR, facility security, EVMS and other areas.

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, Unanet