Redstone Government Consulting Blog | Heather Stroud

The Costpoint group at Redstone Governtment Consulting concluded a great event with Deltek in April during which DCAA representatives gave a keynote session on Accounting System Requirements (or SF1408). Just reading the SF1408 can be confusing or make the requirements seem complicated. However, if you understand the basics and know how Deltek Costpoint can achieve the requirements it can be easier to ensure you are ready for a DCAA review.

Redstone GCI's Deltek Costpoint group is hosting Redstone GCI's Day with Deltek on April 11th. This FREE event will include sessions with Deltek and Redstone Government Consulting experts, networking opportunities, and 4 CPE credits. This year's event includes sessions on CMMC, system audit preparation, and even a live report writing training session. We will also have a special lunch and learn session with a DCAA representative.

In government contracting, Deltek Costpoint stands out as a comprehensive enterprise resource planning (ERP) solution designed to meet the specific needs of government contractors. One crucial aspect of financial management is the indirect rate true-up process, a fundamental component of invoicing within the Deltek Costpoint system. In this blog, we will explore the intricacies of Deltek Costpoint indirect rate true-up invoicing, shedding light on its significance, the process involved, and its impact on government contractors.

As we approach the end of the year, it is time to shift our focus on closing the fiscal year and preparing the upcoming fiscal year. Closing the fiscal year in Deltek Costpoint involves a series of steps to ensure accurate reporting, compliance, and a smooth transition into the new fiscal period. In this blog, we'll provide a guide on the steps for closing the fiscal year in Deltek Costpoint, focusing on both the General Ledger and Project aspects.

One key feature that makes Deltek Costpoint the top solution for government contractors is its ability to manage the segregation of direct and indirect costs, especially through its Project Account Groups. In this blog, we'll discuss Project Account Groups in Costpoint, what they are, their importance, and how to use them to segregate costs properly.

While it may be tempting to change the Project Account Group (PAG) in Deltek Costpoint, revenue and billing formulas, revenue and billing formula levels, or a combination of both, you must consider the risks and consequences accompanying this decision.

Now that year-end and quarter 1 is behind us, what is next? If you guessed Incurred Cost Submissions (ICS), you are correct. June 1^st is fast approaching and there are a few housekeeping items you can do to ensure that your accounting team has an efficient and painless process ahead of them.

Heather Stroud is a Senior Consultant in Redstone Government Consulting's Deltek Costpoint group. She primarily works in the Accounting, Projects, and Planning modules for Deltek Costpoint. The Costpoint Group works with our clients to implement Deltek Costpoint, create customized training, and assist with day-to-day processing. This two-part video and article discuss some common Deltek Costpoint questions and complaints we hear from our clients.

Did you miss Part 1? You can view it here

Heather Stroud is a Senior Consultant in the Deltek Costpoint group at Redstone Government Consulting. She primarily works in the Accounting, Projects, and Planning modules. Redstone GCI's Costpoint Group works with our clients to implement Deltek Costpoint, create customized training, and assist with day-to-day processing. This two-part video and article discuss some common Deltek Costpoint questions and complaints we hear from our clients.

Deltek Costpoint Planning provides access to up-to-date, accurate information for developing, adjusting, auditing, approving, and re-forecasting project budgets and annual operating plans. We usually see three types of users in the Planning module: Business Development, Project Managers, and Project Control/Financial Analysts. Business Development users have access to develop new business budgets. Project Managers can create project budgets and run meaningful reports allowing them to make real time decisions and properly manage their programs. Project control/financial analysts can develop organization budgets and reconcile corporate and project budgets more accurately to better forecast their indirect rates.