Unanet’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:
- General Ledger Budgeting
- Project/ Task Level Budgeting
- Person Planning/Budgeting
- Expense Planning/Budgeting
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.
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.