There are many circumstances where a Unanet customer might manage multiple legal entities in the same Unanet system. There are many benefits as well:
- The accounting staff only accesses one database.
- Share in report format and cost accounts.
- Grouped license costs.
- Automated indirect allocations.
- Consolidated financials.
- Automated shared resources.
Unanet’s most recent enhancements to the multiple legal entity functionality have significantly benefited our clients who manage more than one company in Unanet. This is true, especially in circumstances where the different companies share resources or allocate costs between themselves. This situation is very common with joint ventures and home office allocation situations.
The most recent Unanet enhancements allow for project efforts to be marked as intercompany so that resources can cross from one entity to work on the effort of another. The new enhancements also allow for a grouped indirect rate calculation, so home office or other allocations can be done automatically. All of this enables Unanet users to avoid a few duplications of effort and additional work within journal entries for the Due To/From.
As we work with clients who manage multiple companies, we strive to develop a best practice for separately identifying each entity and the other data associated with the setup. The recommended setup continues to evolve as Unanet continues to invest in the automation of these types of efforts. Please let us know if you’d like to review your multiple-entity setup in Unanet with us!
Katherine (Katie) Donnell serves as the Director of Unanet Practice Services at Redstone Government Consulting, Inc., where she leads the firm’s Unanet consulting practice in delivering expert implementation, optimization, and compliance support to government contractors. With extensive expertise in DCAA-compliant Unanet Time & Expense Tracking, Project Portfolio, and Financials, Katie plays a vital role in helping contractors build and maintain compliant, efficient financial and project management systems. As one of the first Unanet Certified Implementers, Katie was part of Unanet’s initial pilot certification program for non-Unanet consultants, investing over 300 hours in training, system development, and rigorous testing to obtain her certification. She holds Unanet Advanced Project Management training credentials and is also a QuickBooks ProAdvisor. Her technical expertise and real-world implementation experience make her a trusted advisor, frequently called upon by Unanet’s internal teams to support implementation projects as an external expert. Katie is also responsible for the continued growth and strategic oversight of Redstone GCI’s Unanet Practice, ensuring that quality of service, client support, and consultant development remain at the highest standard. She is committed to advancing the professional development and expertise of Redstone GCI’s Unanet consulting team, ensuring they stay at the forefront of industry best practices and evolving compliance requirements. At Redstone GCI, Katie serves as a primary point of contact for numerous small business clients, providing ongoing government cost accounting and compliance support. She regularly assists with monthly accounting close processes, ensuring accurate financial reporting for program management and executives. Her unique combination of software system expertise and compliance knowledge allows her to provide strategic, hands-on guidance to government contractors navigating complex regulatory and financial landscapes. With extensive experience in government contract accounting and compliance, Katie has assisted contractors with DCAA audit readiness, including SF1408 pre-award accounting system audits, provisional billing rate submissions, forward pricing rate development, and incurred cost submissions. She also helps clients design and implement compliant policies and procedures to support an adequate DCAA-approved accounting system. Prior to joining Redstone GCI, Katie worked in public accounting and government contracting, gaining operational experience with Unanet, QuickBooks, SpringAhead, Deltek T&E, ADP, Paychex, and QB Payroll. Her extensive background in accounting, compliance, and financial systems ensures that Redstone GCI’s Unanet clients receive the highest level of technical and regulatory expertise.