S2 Incorporated & Sage Software brings you closer to Government Contracting! Sage MAS 90 ERP or Sage MAS 200 ERP, S2 Project Accounting™ & S2 e-Timesheet™ all  together offer clients a complete solution for Government Contracting & Project-Driven Firms

Government Services:  Government contractors face numerous challenges in order to remain in compliance with complex federal laws and regulations. Sage MAS 90, S2 Project Accounting™ and S2 e-Timesheet™ are designed to meet these unique needs of government contractors and project driven businesses. Designed and developed over the past 15 years, the S2 Project Accounting™ module delivers features such as cost-collection, multi-tier project setup, unlimited pool setup, cost- allocation, reporting, automated billing and other powerful attributes so necessary for government contractors. The resulting benefits make this solution the preferred choice of mid-market government contracting firms.

S2 Incorporated exclusively designed the S2 Project Accounting™ for Sage MAS 90, and Sage MAS 200 for businesses that sell to the US government. Becoming a successful business takes vision, time, ambition, energy, and a clear understanding of your market niche. Selling to the government poses even more challenges, as government contractors must work within a different set of unique and specialized rules, regulations and standards. 
Unlike the commercial world, your government customer can ask to see numerous items in order to find out how money was spent on all elements that contribute to fulfilling a contract such as Timesheets, Overhead Analysis Report, Project Cost Report, Indirect Cost Analysis, Indirect Pool Rate calculations are just a few examples. Throughout the various stages of the ongoing contracting lifecycle –starting from bidding through proposals, and to financing, training and expanding – having the right tools at the right times can make or break your hard-earned business. After all, a business that revolves around projects should use software that does so as well.

Compliance: An inadequate accounting system can be a detriment. Unable to segregate direct costs from indirect costs? Don't have a system that excludes unallowable costs when billing the government? No timekeeping system for identifying labor hours? These are just some of the limitations that can affect your ability to compete for government business.

S2 Incorporated's Project Accounting™ & e-Timesheet™ modules will help you manage the accuracy of project cost data by reducing double entry, supporting business needs while putting man-hours where you need them most, significantly reducing set-up time for new projects and eliminating manual complexities in data-discrepancy handling. The module is 100% compliant with Standard Form 1408 and contains a GSA schedule and non-schedule Revenue Recognition a feature that is unique in government project accounting systems. 

The Federal Acquisition Regulations (FAR) were created to ensure that government contractors deliver on a timely basis and provide the best value in the product or service sold to the US government. As a contractor your company bears the regulatory burden of striking a balance between ‘meeting the minimum requirements’ and ‘fair and reasonable price’. Under these rules, government contractors are required to disclose all aspects of their pricing methodology, as well as information considered proprietary and sensitive. MAS 90 along with the S2 Incorporated’s Project Accounting™ module will help you do just that. Developed in conjunction with FAR, costs are tracked by contract so that, in the event of an audit, you can quickly retrieve and accurately report procurement funds with ease.

Defense Contract Audit Agency (DCAA) is the agency that performs contract audits. The DCAA’s major points of focus are identifying and evaluating all activities that contribute to, or have an impact on, proposed or incurred costs of government contracts. In fact, a contractor’s financial capability to perform on a contract, the adequacy of the firm’s accounting system and the ability to comply with government regulations are assessed by DCAA. To view DCAA's own website www.dcaa.mil  

The labyrinth of government auditing can be overwhelming. From pre-award audits, post award audits, price proposal audits, incurred cost audits, contract closing audits, internal control audits, purchasing system reviews and EDP audits – it is wise to be prepared meet the rules and regulations. The life of your business depends on it.
From accumulating and reporting costs, as well as maintaining adequate transaction records, S2 Incorporated’s S2 Project Accounting™ and S2 e-Timesheet™ will assure your company’s compliance with FAR, DCAA & CAS audit guidance.

S2 Project Accounting™ module and S2 e-Timesheet™ meet all of the cost accounting guidelines specified on Standard Form 1408 mentioned below: (Accounting System Evaluation Checklist)

• Accumulation of actual direct costs by labor category and job 

• Accumulation of costs under General Ledger Control

• Bid & Proposal and Independent Research & Development Treatment 

• Calculation of multiple indirect rates per job or task 

• Identification and accumulation of direct costs by contracts

• Inception-to-date job or task detail 

• Indirect cost accumulation & allocation using provisional, budgeted, or actual burden rates 

• Labor distribution system that charges direct &indirect labor to appropriate cost objectives

• Proper segregation of direct costs and from indirect costs

• Segregation of preproduction costs and production costs

• Time-keeping system that identifies employees’ labor by intermediate or final cost objectives 

• Tracking and segregation of unallowable costs 

• Tracking of employee labor by intermediate or final contract objectives 

• Uncompensated Overtime

Cost Accounting Standards (CAS): were passed by Congress to prescribe a uniform methodology in contractors’ cost accounting practices. Basic CAS requirements include consistency in estimating, accumulating and reporting costs. The S2 Project Accounting™ module was created in accordance with those Standards, so these special, and complex, rules – like separating pools of costs – are directly built into your system, enabling you to accrue and report costs the way a government contractor should. The software makes sure you follow the CAS guidelines.
For accumulating costs, reporting costs and maintaining adequate transaction records, The S2 Project Accounting™ application combines a powerful project accounting solution with numerous built-in reports.

Labor: Aggressively reviewed and enforced by the government, the Service Contract Act (SCA) requires specified minimum wage rates and fringe benefits for employees working on service contracts and subcontracts. It is a complex statute – failure to comply may precipitate contract cancellations, the withholding of payments and even complete disqualification.
To help contractors navigate the maze of labor regulations, S2 Incorporated enables you to collect labor hours, labor and non-labor cost and unit transactions; and allocate indirect costs to each project or contract.

Cash Flow: A healthy cash flow is an essential part of any successful business. And with a margin of two of three percent, the return on investment for a government contractor has to come from turnover. You’ll need to spot some of the problem areas in the cash flow cycle of your business so you can chase down cash.

Billing: You’ve delivered. All you have to do now is submit an invoice to the billing office specified in your contract. Under law, the government is required to pay you within 30 days. What’s the catch? If your invoice is not deemed ‘proper,’ according to FAR, it will get sent back to you. The 30-day clock is reset. 
Time is money. For a government contractor, proper billing is crucial. S2 Incorporated gives you the front-end validation and controls necessary to ensure accuracy and data integrity across the entire system, along with the tools to automate your billings. (Automated Billing) What’s more, you can create and print invoices in standard government specified formats with no manual processing – and keep track of them.

Rate Tracking: Calculating indirect rates are an essential component to profitability for the government contractor. You must also be able to calculate those indirect rates and allocate indirect costs. The secret to success is managing the operation to these rates. If your rates are out of control, your business will quickly feel the impact. 

Sage Software & S2 Incorporated gives you the automated tools you need to monitor and manage rates daily. Uniquely designed to comply with government contracting requirements, S2 Incorporated’s Project Accounting™ delivers features that let you determine fringe rates, overhead rates, and G&A rates. Furthermore, indirect expense pools can be structured according to company requirements. And now, with the newly added GSA Revenue Recognition feature and seamless integration to a web enabled time-keeping solution, the S2 e-Timesheet™ & the S2 Project Accounting™ modules have become the ONLY solution that contain all this in one complete package.  

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