Cloud-based Project Management Software - online resource management, resource scheduling, project planning, time & expense tracking, project billing & cost reporting

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Compliance

DCAA Compliance with Tenrox Cost Accounting Software

The Defense Contract Audit Agency reviews US Department of Defense (DoD) contracts with “cost-plus” or other cost reimbursement provisions. The DCAA audits the contractor's project accounting systems and their compliance with cost accounting standards and guidelines. At any time, the DCAA can audit the contractor's internal control systems, including timekeeping and cost reporting. DCAA compliance guidelines are also used as the standard for monitoring and auditing all government contracts and service providers.

Download a White Paper on Cost Accounting and Tenrox DCAA Compliance

Streamlining DCAA Compliance with Tenrox

Contractors with the right tools, policies and procedures can substantially simplify DCAA compliance. Tenrox Project Workforce Management helps contractors:

Implement comprehensive time and expense tracking controls
Allocate indirect costs appropriately to multiple contracts
Respond to auditors' requests quickly
Eliminate manual processes and gain efficient, consistent tracking of time and expenses
Maximize revenue by minimizing disallowed or disputed charges
Demonstrate robust administration and reporting (which DCAA considers a key deliverable of every DoD contract)

DCAA Requirements:	Project Workforce Management Solution:
DCAA Compliance: General
Access to data must be controlled	Windows NT authentication and role-based security that complies with DCAA requirements for format, history, aging, and lockout after multiple failed login attempts
To substantiate costs, sufficient records must be retained three years after the final contract billing	All data is stored in a central and secure database. Internal auditors can generate real-time reports on all government contracts and overhead costs
Time and expense process includes a verifiable audit process for all changes and transaction entries	Audit of all approvals, changes, entry deletions/creations; audit reports
DCAA Compliance: Time
Every employee must record their own time charges	Users login using NT authentication or secure passwords.
Time charges must be recorded daily	Timesheets can be locked for previous days; system requires a note entered by the user to change any past entries
Changes to time entries require an explanation by the employee and management's approval	Any change creates an audit event. Users and managers can be required to provide explanations for any modifications or corrections
If the resource is shared, the resource time charges should be split across multiple projects	Split billing
DCAA Compliance: Costs
Identify direct project costs versus overhead costs	Define types of expenses; and identify which ones are billable expenses. With appropriate controls/note enforcements, allow billable flag override on a per entry basis
A verifiable process for identifying why an incurred expense is a direct cost	Approval process for expense reporting and money charge entries

Download a White Paper on Cost Accounting and Tenrox DCAA Compliance

“One of the biggest reasons for choosing Tenrox project management software is that it’s flexible enough to let us replicate the work processes that we developed in-house, but robust enough to give us much more powerful workflow management and rules application.”

Autodata Solutions,
Chris W.,
Executive V.P.

Tenrox web based enterprise project management software is a modular solution that helps simplify your, project planning, project tracking, project accounting, expense tracking, enterprise resource / capacity planning, and time and billing.

Traditional project planning and project management software tools put the burden of creating and updating project plans on the managers shoulders. Tenrox makes your project planning and management quicker and easier by using simple and effective workflow tools to help you get the job done quicker and easier.

Our online business project planning and project accounting system is workflow-driven and replaces the spreadsheets and band-aid applications that leave your project-driven work force and processes disconnected. With work breakdown structures to mirror the way you do business, Tenrox allows you to easily map your projects to your corporate structures: Capture and track project data at any level of detail, mirror every business operation area with distinct functional and approval hierarchies, and summarize or drill down into your project workforce financials. Tenrox is the perfect online enterprise project management software solution to align your projects and workforce with your business goals.

With online project management tools by Tenrox, you obtain real-time information on costs, expenses, revenue, profits, project status, schedules and issues, ensuring successful project management planning and delivery. Tenrox Project Workforce Management Software meets the needs of both service organizations for professional services automation and for internal project management offices so you can manage and view both process and financial impact in real time.

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