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!
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.