The Contract Management module is the foundation upon which the accounting and timekeeping systems are built, ensuring smooth data flow from contract award to invoicing and receipt of payment. Seamless integration between business functions allow you to manage your contract performance efficiently.
From the beginning of each contract, WrkPlan guides users into DCAA compliance. The Contract Management module collects the information required to generate DCAA compliant invoices and to present reports in auditor-recognized formats.
WrkPlan includes the following key contract-related functions:
Once entered, all contract information connects with other modules, eliminating the need for duplicate data entry.
The Contract Detail Window gives users an overview of key contract-related information in one screen, including:
Total contract ceiling/div>Current contract fundingContract Line Item Number (CLIN) funding
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.
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.
Task Forecast and Funding Status
The Task Forecast provides the necessary information to monitor remaining task funding/ hours and burn rate
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
Extensive Project Cost Accounting Reports
Easily monitor project status and progress with cost reports and the ability to drill down into further financial detail.
Other Contract Reports include:
- Contract/Task Backlog
- Contract Completion vs. Percent Billed
- Subcontractor Costs
- Funding status
- Budget vs. Actual
- Contract Billing vs. Costs
- CLIN Allocations & history
- Subcontractor Costs