Government Contract
Management
Manage every contract from RFP to Billing-
The contract module is the foundation upon which the accounting and the timekeeping system are built ensuring smooth data flow across contract award to invoicing and generation of payment receipt for government contract management and Accounting Software
At the beginning of each contract, WrkPlan guides users through all the DCAA compliance and generates audit ready reports.
WrkPlan includes the following key contract-related functions:
Contract Details
Once entered, all contract information connects with other modules, eliminating the need for duplicate data entry. The Contract’ Module allows straightforward entry and reporting of key contract-related information including:
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Funding status of individual contracts and tasks -
Labor Categories -
Contract Line Item Number (CLIN) funding -
Accounting Classification Reference Number (ACRN) -
Subcontractor assignments and rates -
Direct, indirect and overhead costs
Tasks/ Subtasks
When a task is created, the system automatically generates corresponding cost ledgers which can be tied back to the parent contract. These capture direct labor, subcontractor labor, material, travel and other direct costs (ODCs) at the task level.
- Contracts may have up to 999 tasks or subtasks, each with its own funding and modification history.
- Funding can be specified at the task or subtask level.
- Tasks can support CLINs or Work Breakdown Structure (WBS) elements.
Contract Modifications
Modifications are entered at the task level and automatically update contract and task funding. This saves the effort of making multiple entries and minimizes the opportunity for introducing errors.
Remaining Task Funding and Hours
The Task Forecast provides the necessary information to monitor remaining task funding/ hours and burn rate for Financial Forecasting for Gov Contractors.
Contract Backlog Report
Provides real-time insight into backlog funding status. The backlog report clearly shows funding status (ceiling, funded, billed and remaining) on contracts and tasks, providing management with critical insight into key financial parameters for Contract Tracking for Gov Contractors.
