Compliance Support

//Compliance Support
Compliance Support 2018-01-11T16:57:08+00:00

Government Contractors

ObviO Enterprise Management System Project Management and General Ledger modules are designed to help you meet the auditing and contract management requirements of the federal government and those of many state & local governments.  By utilizing EMS, your company can tie their distributed overhead and indirect  costs back to a particular revenue stream (also called a “Cost Objective” by the Federal Acquisition Regulation), making it easy to create accurate and auditable billings for cost reimbursement on government projects. The schedules and reports needed for DCAA incurred cost proposal (ICP) submissions are produced  automatically and maintains audit trails of the cost elements that result in changes in cost pool values.

ObviO EMS General Ledger Module enables you to:

  • Create an unlimited number of cost pools and  bases.
  • Create an unlimited number of  indirect expense rates.
  • Assign an unlimited number of indirect cost rates for billing labor and other direct costs, including fringe, G&A, overhead, IR&D, B&P, and offsite labor.
  • Distribute costs in the general ledger form any source of accounts to any set of target accounts using a percentage, units (hours, or square feet, for example) account balances or other basis.
  • Exclude non-allowable amounts from cost pool values.
  • Assign adjustments to cost pool records in any fiscal year desired.

The Project Management Module capabilities specific to government projects include:

  • Tracking multiple contracts per Project
  • Tracking costs and revenue for an unlimited number of Work Breakdown Structure (WBS) elements.
  • Setting up funding limits that can be used as billing limits and to trigger project management alerts.
  • Provide Consultant & Subcontractor reporting to support state and local government construction & engineering project billings.
  • DCAA and FAR compliant cost controls and reporting.

DCAA Compliance

ObviO EMS gives you the tools needed to satisfy the Defense Contract Audit Agency(DCAA) which is responsible for performing all audits for DoD and performs audits and other financial advisory services to other government agencies responsible for procurement and contract administration.  When used as designed  ObviO’s General Ledger, Project Management, Payroll, Accounts Payable, Accounts Receivable, Purchasing, and Human resources modules provide the framework for your company to meet federal government regulations as defined in the DCAA Cost Accounting Standards (CAS) and Federal Acquisition Regulations  (FAR).

Compliance becomes easy with the use of ObviO EMS due to the features that address compliance requirements of time and attendance tracking, project cost tracking, indirect cost allocations and contract management. ObviO EMS DCAA compliance capabilities include:

  • General Ledger Segregation of direct costs from indirect costs
  • Accumulation of direct & indirect costs by contract
  • Methods for allocation of indirect costs to intermediate and final cost objectives
  • General ledger control of cost accumulation
  • Time keeping system that records employee labor to intermediate or final cost objectives
  • Cost distribution system that charges direct and indirect labor and expenses to the appropriate cost objectives
  • Segregation of Allowable and Unallowable costs in the general ledger
  • Identification of costs by units and contract line items.
  • Ability to segregate pre-production costs from production costs.
  • Electronic time keeping with electronic time sheet submission and electronic supervisor approval.

Regulatory Compliance

ObviO provides the tools necessary for other regulatory and standards compliance such as the the Sarbanes-Oxley Act (SOX), International Organization for Standardization (ISO), and others.  You can design corporate work flow procedures that incorporate the level of controls and reporting necessary to meet what  ever standards may be required for your particular industry and product niche.  Audit trails are automatically produced as your employees conduct ordinary business transactions.  Approvals can be required during these processes that allow your business to assign areas of responsibility.