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UNANET FOR GOVERNMENT CONTRACTORS

Financials

KEEP YOUR EYE ON THE BOTTOM LINE IN REAL TIME

Are you confident in the status of your transactions? Are you able to plan ahead with accurate revenue and utilization forecasting? Automate processes, eliminate inefficiencies, and earn revenue faster with Unanet’s purpose-built Enterprise Resource Planning (ERP) solution for GovCons. Unanet’s Financials software includes Project Accounting, cost pools, GL, AR, AP, Billing & Revenue Recognition, Purchasing and more in one centralized, integrated solution.

robust FINANCIALS & ACCOUNTING in one solution

Increase your financial clarity and confidence by managing all your transactions, costs, and revenue in one single solution. Unanet’s integrated set of capabilities delivers real-time performance management of your projects, people, and financials in one application, eliminating the need for reconciling data between different systems and increasing efficiencies and revenue.

FEATURES

TECHNOLOGY

  • Totally Integrated, 100% Cloud-based, accessing one database
  • Vendor-independent to fit your technology infrastructure. Cloud or On-Premises
  • Scalable, reliable, available
  • Published data model for external report writers
  • Fits easily in your application architecture

MANAGED INFORMATION 

  • Role-based for security—administrator, user, manager, project manager, financial roles, and/or customer
  • Single sign-on for one entry of username and password
  • Integration Manager to ensure automated data exchange with third-party systems
  • Powerful selection criteria for critical services business reports

 

ROBUST FEATURES 

  • Functional depth, including project management, DCAA Compliance, Per Diems, and Time In/Time Out
  • Government contract solutions and government contract reporting
  • Extensive audit trails for auditors
  • Manage all aspects of project-based business operations
  • Analytics and reporting delivering real-time information and insights

 

IMPROVE EFFICIENCY & PLANNING 

  • Streamline professional services business processes for improved margins
  • Provide new insights with historical, current and future project work
  • Expedite real-time information and decision-making
  • Eliminate time wasted managing transactions with one software for projects, people, and financials
  • Improve resource capacity planning
  • Drive business decisions with actionable insights – analytics, dashboards, and reporting

 

TECHNOLOGY
  • Totally Integrated, 100% Cloud-based, accessing one database
  • Vendor-independent to fit your technology infrastructure. Cloud or On-Premises
  • Scalable, reliable, available
  • Published data model for external report writers
  • Fits easily in your application architecture
MANAGED INFORMATION
  • Role-based for security—administrator, user, manager, project manager, financial roles, and/or customer
  • Single sign-on for one entry of username and password
  • Integration Manager to ensure automated data exchange with third-party systems
  • Powerful selection criteria for critical services business reports
ROBUST FEATURES
  • Functional depth, including project management, DCAA Compliance, Per Diems, and Time In/Time Out
  • Government contract solutions and government contract reporting
  • Extensive audit trails for auditors
  • Manage all aspects of project-based business operations
  • Analytics and reporting delivering real-time information and insights
IMPROVE EFFICIENCY & PLANNING
  • Streamline professional services business processes for improved margins
  • Provide new insights with historical, current and future project work
  • Expedite real-time information and decision-making
  • Eliminate time wasted managing transactions with one software for projects, people, and financials
  • Improve resource capacity planning
  • Drive business decisions with actionable insights – analytics, dashboards, and reporting

 

PROJECT ACCOUNTING INSIGHTS FOR GREATER DECISION-MAKING

Unlock the advanced power of real-time data for your projects and project accounting. Unanet’s cloud-based ERP for GovCons provides unique and powerful Project Accounting capabilities. Utilize real-time reporting on direct and indirect project costs as well as true costs and forecasts and leverage this information to make optimum decisions about your project portfolio. You can access all this right at your fingertips along with resource requesting and management, project management, timesheet management, expense management, and teamwork collaboration capabilities in one integrated solution. 

FEATURES

PROVIDE MANAGERS WITH TRUE PROJECT COSTS IN REAL TIME

  • Calculate project burdened costs (indirect charges)
  • Show direct costs, indirect charges, hours, average labor rate, revenue, and margin on a single report
  • Report by customer, project, or task level
  • See detailed direct charges by labor and ODC cost element
  • Provide new opportunities for project managers to manage performance
  • Manage burn rate using real-time data

 

REVENUE & MARGIN 

  • See revenue and true margin for Fixed Price, Cost Plus, and Time and Materials projects
  • Show backlog, remaining budget, and variance
  • Provide real-time data to project managers, getting the finance department out of the business of producing reports
  • Streamline project reporting by offering managers insight into true margin
  • Forecast direct and indirect charges and revenues
  • Improve margins through actionable information based on work in progress

FEATURE-RICH 

  • Define unlimited numbers of cost structures and pools for each organization
  • Support target, provisional, or actual rates
  • Flexible report writer allows Job Summary Report to include the rows and calculations you need
PROVIDE MANAGERS WITH TRUE PROJECT COSTS IN REAL TIME
  • Calculate project burdened costs (indirect charges)
  • Show direct costs, indirect charges, hours, average labor rate, revenue, and margin on a single report
  • Report by customer, project, or task level
  • See detailed direct charges by labor and ODC cost element
  • Provide new opportunities for project managers to manage performance
  • Manage burn rate using real-time data

 

REVENUE & MARGIN
  • See revenue and true margin for Fixed Price, Cost Plus, and Time and Materials projects
  • Show backlog, remaining budget, and variance
  • Provide real-time data to project managers, getting the finance department out of the business of producing reports
  • Streamline project reporting by offering managers insight into true margin
  • Forecast direct and indirect charges and revenues
  • Improve margins through actionable information based on work in progress
FEATURE-RICH
  • Define unlimited numbers of cost structures and pools for each organization
  • Support target, provisional, or actual rates
  • Flexible report writer allows Job Summary Report to include the rows and calculations you need

FINANCIALS: GL, AR, AP, COST POOLS

Eliminate unproductive time managing transactions and create more time to transform the performance of your organization with Unanet Financials. Unanet’s solution offers unique capabilities to project-driven organizations with general ledger, accounts receivable, accounts payable, and cost pool calculations (allocations) integrated with project management, project accounting, and resource scheduling. Real-time visual insight of true costs (direct and indirect), margin, revenue, and forecasts ensures managers have the information needed to make optimized decisions about the project portfolio and resource effectiveness.

FEATURES

GENERAL LEDGER 

  • Integrated insight for managers with a single source of truth on projects, people, and financials with no need for reconciliation
  • Full-featured general ledger tightly integrated with existing project capabilities
  • Multi-version budgeting
  • Bank account reconciliation
  • Journal Entry supports automatic recurring and reversing entries, document voiding, role-based posting authorization, and attachments
  • Flexible chart of accounts and organization hierarchies require no hard-coding
  • Unlimited legal entities, organizations and cost pools
  • Attachments and comments throughout to support transaction entry
  • Forecast direct and indirect charges and revenues
  • “Know now” with unposted and posted data in the same report to provide real-time insight
  • Improve margins through actionable information based on work in progress

 

ACCOUNTS RECEIVABLE 

  • Tightly integrated with powerful billing capabilities
  • Customer payment application and deposits
  • Automated receipts discount calculations based on invoice terms
  • Small-balance write-offs

ACCOUNTS PAYABLE 

  • Tight integration with Projects
  • Recurring Vendor Invoices
  • Period-sensitive AP Aging and Bank Account Reconciliation reports
  • Flexible automated system check Payment Selection and Check Printing process
  • 1099 support

 

COST POOL CALCULATIONS

  • On-demand indirect cost rates calculations from general ledger or from GL budgets
  • Drill-down inquiry and reporting on rate calculations
  • Optionally post indirect costs in the general ledger
GENERAL LEDGER
  • Integrated insight for managers with a single source of truth on projects, people, and financials with no need for reconciliation
  • Full-featured general ledger tightly integrated with existing project capabilities
  • Multi-version budgeting
  • Bank account reconciliation
  • Journal Entry supports automatic recurring and reversing entries, document voiding, role-based posting authorization, and attachments
  • Flexible chart of accounts and organization hierarchies require no hard-coding
  • Unlimited legal entities, organizations and cost pools
  • Attachments and comments throughout to support transaction entry
  • Forecast direct and indirect charges and revenues
  • “Know now” with unposted and posted data in the same report to provide real-time insight
  • Improve margins through actionable information based on work in progress

 

ACCOUNTS RECEIVABLE
  • Tightly integrated with powerful billing capabilities
  • Customer payment application and deposits
  • Automated receipts discount calculations based on invoice terms
  • Small-balance write-offs
ACCOUNTS PAYABLE
  • Tight integration with Projects
  • Recurring Vendor Invoices
  • Period-sensitive AP Aging and Bank Account Reconciliation reports
  • Flexible automated system check Payment Selection and Check Printing process
  • 1099 support

 

COST POOL CALCULATIONS
  • On-demand indirect cost rates calculations from general ledger or from GL budgets
  • Drill-down inquiry and reporting on rate calculations
  • Optionally post indirect costs in the general ledger

POWERFUL BILLING & REVENUE RECOGNITION 

Forecast and track revenue across different contract types, shorten invoice cycles, and provide authorized managers with real-time insight with an automated bid-to-bill lifecycle. Unanet’s ERP Project Billing solution provides Invoicing and Revenue Recognition functionality with robust support for Fixed Price, Time and Materials, and Cost Plus contracts. By using the power of a single integrated system to manage the entire services bid-to-bill cycle, you can replace disparate standalone systems, resulting in greater productivity, fewer errors, and lower costs.

FEATURES

FIXED PRICE SCHEDULES 

  • Create project billing and revenue recognition schedules for Fixed Price items
  • Recognize revenue as “billed” based on percent complete, or on a custom schedule
  • Bill items on task or project completion

 

PRE-BILL LABOR 

  • Issue invoices for labor in advance of work being performed
  • Earn revenue associated with pre-billed labor based on approved timesheets 
  • Automatically bill labor in arrears once Pre-Bill amounts have been earned

INVOICING

  • Create multiple standard invoice formats to be used across projects, showing summary or detailed level information
  • Hide or show Cost Element detail on Cost Plus Invoices
  • Include Fixed Price, Time and Materials, Pre-Bill Labor, and Additional Items on the same invoice
  • Defer items from the current invoice for future invoicing
  • Add one-time items such as additional fees or discounts
  • Enable review of draft invoices by project management roles
  • Automated customer invoice & line item attachments for expenses 

ADDITIONAL FEATURES 

  • Comprehensive reporting on the billing and revenue status of items at summary and detailed levels
  • Calculate billable and earned amounts for individual or multiple projects in a single step, with preview and drill-down to detail before committing data
  • Export journal entries, accounts receivable, fixed price schedules, billable hours, and other data to downstream systems
  • Billable expense markup ensures company or project-specific markups can be applied
  • Manage different contract types including Time and Materials, Fixed Price, Pre-Bill Labor, and Cost Plus
  • Manage bid-to-bill lifecycle in Unanet, or flow data into other systems with accounts receivable or journal transactions at summary or detail level
  • Reflect client needs and level of detail with flexible per project to reflect client needs and level of detail
FIXED PRICE SCHEDULES
  • Create project billing and revenue recognition schedules for Fixed Price items
  • Recognize revenue as “billed” based on percent complete, or on a custom schedule
  • Bill items on task or project completion

 

PRE-BILL LABOR
  • Issue invoices for labor in advance of work being performed
  • Earn revenue associated with pre-billed labor based on approved timesheets 
  • Automatically bill labor in arrears once Pre-Bill amounts have been earned
INVOICING
  • Create multiple standard invoice formats to be used across projects, showing summary or detailed level information
  • Hide or show Cost Element detail on Cost Plus Invoices
  • Include Fixed Price, Time and Materials, Pre-Bill Labor, and Additional Items on the same invoice
  • Defer items from the current invoice for future invoicing
  • Add one-time items such as additional fees or discounts
  • Enable review of draft invoices by project management roles
  • Automated customer invoice & line item attachments for expenses 
ADDITIONAL FEATURES
  • Comprehensive reporting on the billing and revenue status of items at summary and detailed levels
  • Calculate billable and earned amounts for individual or multiple projects in a single step, with preview and drill-down to detail before committing data
  • Export journal entries, accounts receivable, fixed price schedules, billable hours, and other data to downstream systems
  • Billable expense markup ensures company or project-specific markups can be applied
  • Manage different contract types including Time and Materials, Fixed Price, Pre-Bill Labor, and Cost Plus
  • Manage bid-to-bill lifecycle in Unanet, or flow data into other systems with accounts receivable or journal transactions at summary or detail level
  • Reflect client needs and level of detail with flexible per project to reflect client needs and level of detail

PURCHASING SOFTWARE

Unanet purchasing software delivers powerful functionality to manage and simplify your buying process, designed to address the specific needs of Government Contractors. With Unanet’s one system, purchasing integrates directly with timekeeping, expense, financials, and billing, saving time and money, and increasing accuracy. Our web-based system makes the process easy and visible from Purchase Requisition (PR), issuance of the Purchase Orders (PO), through to customer invoice. With Unanet’s workflow and approval process all purchasing transactions can be tracked efficiently and integrated into the project forecasts.

FEATURES

TIME & EXPENSE INTEGRATION

  • One integrated system for subcontractor labor and expense collection and billing 
  • Automatically pull in the matched labor and expense transactions into the invoice 
  • 2 and 3-way matching for subcontractors and Other Direct Costs 
  • Commitments decrease as time and expenses are entered in Unanet and vendor invoices 

 

REPORTING

  • Real-time visibility for all relevant staff into purchase order commitments. 
  • Period sensitive reporting allows users to see open commitments at a particular time period (ex. End Of Month) 
  • Real-time reporting for continuous status 

COMPLIANCE

  • Designed to support the requirements of Contractor Purchasing System Review (CPSR) 

EFFICIENCY

  • Eliminates reconciliations as the buying, billing, and revenue recognition is all in one tool 
  • Complete traceability and audit trail for audit support 
  • Increase invoice approval speed and decrease the time to collect cash 
  • Track all purchases made against the project (direct and indirect) 
  • Flexible Purchase Requisition, Purchase Order and Vendor Invoice workflows and approvals 
TIME & EXPENSE INTEGRATION
  • One integrated system for subcontractor labor and expense collection and billing 
  • Automatically pull in the matched labor and expense transactions into the invoice 
  • 2 and 3-way matching for subcontractors and Other Direct Costs 
  • Commitments decrease as time and expenses are entered in Unanet and vendor invoices 

 

REPORTING
  • Real-time visibility for all relevant staff into purchase order commitments. 
  • Period sensitive reporting allows users to see open commitments at a particular time period (ex. End Of Month) 
  • Real-time reporting for continuous status 
COMPLIANCE
  • Designed to support the requirements of Contractor Purchasing System Review (CPSR) 
EFFICIENCY
  • Eliminates reconciliations as the buying, billing, and revenue recognition is all in one tool 
  • Complete traceability and audit trail for audit support 
  • Increase invoice approval speed and decrease the time to collect cash 
  • Track all purchases made against the project (direct and indirect) 
  • Flexible Purchase Requisition, Purchase Order and Vendor Invoice workflows and approvals 
Contractor Purchasing System Review- What You Should Know

CONTRACTOR PURCHASING SYSTEM REVIEW

An adequate contractor purchasing system (CPSR) ensures that purchases are made at fair and reasonable prices and in compliance with the applicable contract terms, regulations and public laws.

CASE STUDY

A cutting edge cyber and IT firm, G2 Ops experienced some growing pains and struggled with compliance concerns for their government contracting business. They needed an ERP system to support their organization while also helping to streamline their operations and ensure compliance. With their single-source solution from Unanet, G2 has automated once-manual tasks and has real-time reporting capabilities.    

“With the Automated Analyst tool, we have reduced the number of errors by 27% and we’ve been able to increase bi-weekly labor efficiency by 33%. The Automated Analyst just pointed the way for us. We have decreased overhead burden for data review and validation by 15% since implementing Unanet.”

—Matthew Chadwick, Program Project Manager,
G2 Ops

RESOURCES FOR GOVERNMENT CONTRACTORS

A GovCon’s Essential Guide to DCAA Compliance
WHITE PAPER

Contractor Purchasing System Review- What You Need to Know
WHITE PAPER

Project Accounting – The Basics
WHITE PAPER

Winning More Business With a Sound Indirect Rate Strategy 
WHITE PAPER

WEBINAR ANNOUNCEMENT:

Incurred Cost Submission - An Overview For Government Contractors