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4 Signs That Your GovCon Business is Outgrowing Quickbooks

You Need Accurate, Fully Burdened Cost Data

QuickBooks has no native ability to calculate and allocate burdened costs. When you need burdened costs to support a cost-plus proposal or an audit, you don't want to calculate them "off-line" in a spreadsheet. And, per the DFARS 252.242.7006 (15) "Cost accounting information, as required—To readily calculate indirect cost rates from the books of accounts". To wit, indirect rate calculations should be performed from within your accounting software and not in a disconnected spreadsheet.  

You Spend More Time Working Around QuickBooks Than Working In It

If you are wrangling multiple spreadsheets to manage data that should be available easily from your project accounting system, and you are creating invoices offline, it is time to look for an accounting system that can work for you and not against you.

You Are Entering The Same Data Into Two Or More Systems

Manually moving data from a timekeeping system to QuickBooks, or moving data from QuickBooks manually back to Excel for analysis and reporting purposes wastes time and introduces opportunities for error. An integrated system improves work flow and reduces errors. If you like utilizing Excel for financial analysis, SYMPAQ includes a reporting tool that seamlessly reads your General Ledger and updates your reporting spreadsheets with the most current data automatically. If you have cost plus contracts and need to produce the annual ICE schedules, SYMPAQ can save you hours and hours of work. SYMPAQ provides your indirect cost profile anytime you need it.

More Than One Person Needs Access to Core Financial Data

QuickBooks lacks the internal controls and audit trail features that are necessary for an adequate system in a multi-user accounting department.

QuickBooks is a mighty fine bookkeeping tool, but as you grow, good internal controls and getting visibility into your true cost structure become more important, and not just for DCAA reasons. These are important factors for your business even you don't worry about DCAA audits. For example, SYMPAQ will automatically generate your invoices accurately to ensure quick processing by your customers, and cash flow is the lifeblood of every business. 

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