Budgeting in a Total Project World - General (GL) are Important

MYCO - My Company Page: 1 of 2 Statement Run Time: 4/4/2019 9:48 AM User: FCONTROLLER As of FY18-12 Compare Actuals to Standard

Actuals Budget As Of 9/30/2018 As Of 9/30/2018

10 - 10.01 - 10.01.01 - Operating Bank Account 4,547,577.22 1,225,582.19 10.01 - Cash Total 4,547,577.22 1,225,582.19 10.02 - 10.02.01 - Accounts Receivable 0.00 458,633.56 10.02 - Accounts Receivable Total 0.00 458,633.56 10.03 - Unbilled 10.03.01 - Unbilled 13,959.83 0.00 10.03 - Unbilled Total 13,959.83 0.00 10.06 - Net Fixed Assets 10.06.01 - Fixed Assets 10.06.06 - Furniture & Equipment 5,000.00 0.00 10.06.01 - Fixed Assets Total 5,000.00 0.00 10.06.08 - Total Accumulated 10.06.13 - Acc Dep - Furn & Equip (499.98) 0.00 10.06.08 - Total Accumulated Depreciation Total (499.98) 0.00 10.06 - Net Fixed Assets Total 4,500.02 0.00 10 - Assets Total 4,566,037.07 1,684,215.75

20 - Total Liabilities and Stockholders' 20.01 - Total Liabilities 20.02 - Current Liabilities 20.03 - Accounts Payable 20.03.01 - Accounts Payable 91,956.46 43,472.82 20.03.02 - Credit Card Payable 47,737.68 2,466.00 20.03.05 - Report Liability 5,669.46 12,367.58 20.03 - Accounts Payable Total 145,363.60 58,306.40 20.02 - Current Liabilities Total 145,363.60 58,306.40 20.01 - Total Liabilities Total 145,363.60 58,306.40 20.04 - Other Accrued Liabilities 20.04.02 - Accrued 26,910.32 6,310.00 20.04.03 - Deferred 87,910.24 0.00 20.04.05 - Accrued Subcontractor Labor 103,394.00 0.00 20.04 - Other Accrued Liabilities Total 218,214.56 6,310.00 20.05 - Accrued Payroll/Benefits 0.00 12,345.00 20.05.01 - Accrued Leave 74,978.32 0.00 20.05.03 - Accrued Wages 1,404,012.07 125,865.71 GL budgeting?? Oh, that thing we all know we SHOULD do? What exactly is a GL budget? A budget is what the organization believes and agrees is achievable. There should be an action plan in place to achieve the budget. It is a target which the organization sets for itself and becomes management’s commitment to action. It’s also the tool that provides insight into the company’s financial performance, from both an organizational and project level. When we think of budgets, we typically think first of project budgets, but aren’t the project budgets made up of components that are collected ultimately in the GL? That answer is yes of course, even the indirect are allocated to projects! Since rate calculations are yearly, the GL budget is typically done on an annual basis.

Characteristics of a Great Budget

• All scope and planned expenditures are included

• The Budget is time-phased

• There is an understanding of the timing of the expenditures

• Assumptions are monitored and updated to reflect current circumstances

• All stakeholders agree that the budget is achievable and have a path to achieve the desired result

Why is budgeting so hard and time consuming? Budgeting is one of the most challenging activities for accounting, finance, functional, and project teams. The teams in the trenches often do not realize the impact they have on the company’s overall forecast and ultimately the direction of the organization’s strategy. The building blocks of the Annual Operating Plan (AOP) and Long-Range Plan (LRP) are the project budgets. There is not a magic budget that comes from the corporate finance team; it is the grass roots project plans that guide the business. These plans (AOP and LRP) are critical for all decision-making and for companies that do a great job, budgeting will be more efficient and successful.

Why is budgeting so hard to do? There are so many moving parts, making it hard to get arms around all the components of a budget at one time.

Who influences the project and budgets?

Customer PMO Project Manager Resource Manager Subcontractors Business Development Functional Managers Contracts Manager Control Account Managers Human Resources Work Package Manager Accounting Financial Analysts Information Technology

Communication and collaboration is the most challenging aspect of budgeting. The number of touches above tells the story of why it is so hard to produce an accurate budget! In this paper, we will discuss methods, techniques, and tools that will help make your budget a strategic tool vs. a static point in time that quickly becomes obsolete.

The Budgeting Ecosystem Direct project budgets reflect the cost to do work for clients. They are made up of labor by category, materials, and other direct costs. In a project-based ERP system, all costs budgeted at the project level are tied to a department/ organization as well as a general ledger account. The same goes for indirect projects. You should budget indirect projects with the same rigor as or even MORE than direct projects. There are so many variables with indirect costs.

2 Budgeting in a Total Project Accounting World - General Ledger (GL) Budgets are Important Document what is included in each major cost pool. For instance, make sure you reference the insurance contract when estimating employee health care expenses for fringe. Budget each expense by general ledger account and make sure you understand the timing of the expense. Rate impacts can and do cause major issues for a project.

Account * Organization * Project

OJECT PR S General Ledger – Chart of Accounts (CoA) is where expenses are MEN RT T A /O posted. It is the structure for reporting and budgeting. P R E G D GENERAL Department/Org – Functional groups define who is doing the work. LEDGER

Projects - What work is being done.

Proposed

Firm Projects Crystal Ball

Selling Capital Direct Projects Total Project Accounting Indirect Projects IRAD Other Indirect

B&P

Total project accounting is simply accounting for all projects in your portfolio. Total project accounting consists of reporting on both direct and indirect projects. In other words, every cost or transaction is attributed to a project. This gives executives, accounting, and insight of true costs and forecasts, ensuring that all stakeholders have the information needed to make optimum decisions. Examples of indirect costs are fringe benefits, overhead, and General & Administrative Expenses (G&A).

General Ledger Budgeting General ledger budgeting takes a village. There are so many direct and indirect projects that are being accounted for. With total project accounting in place, every transaction is associated with a GL Account, Organization, and a Project. This concept allows us to take the budgets that are prepared for all projects and associate them directly to the general ledger chart of accounts. This is very powerful! It will provide you with a trending with comparisons of actuals/forecast to budget. In addition, the balance sheet will have a comparison of actuals to budget. Other reports such as revenue & funding, cost summary & status, and performance reports are also available with budget compared to actuals. This level of reporting is very powerful for the finance organization as it will reflect the barometer of revenue as well as overall spending. The largest benefit may well be the ability to calculate indirect rates utilizing the GL budgets. This is a level of insight few enjoy.

3 Budgeting in a Total Project Accounting World - General Ledger (GL) Budgets are Important MYCO - My Company Page: 1 of 2 MYCO - My Company Run Time: 4/4/2019 10:13 AM Page: 1 of 2 Trending Income Statement Report User: FCONTROLLER Compare Totals to Standard Budget Run Time: 4/4/2019 10:13 AM Trending Income Statement Report User: FCONTROLLER Compare Totals to Standard Budget

FY18-01 FY18-02 FY18-03 FY18-04 FY18-05 FY18-06 FY18-07 FY18-08 FY18-09 FY18-10 FY18-11 FY18-12 Total Budget Variance Variance %

40 - Revenue 40.01 - Revenue FY18-01 FY18-02 FY18-03 FY18-04 FY18-05 FY18-06 FY18-07 FY18-08 FY18-09 FY18-10 FY18-11 FY18-12 Total Budget Variance Variance % 40.01.01 - Revenue - Government 9,160.00 9,320.00 9,320.00 9,320.00 9,320.00 9,320.00 -- 18,640.00 9,320.00 9,320.00 9,320.00 -- 102,360.00 6,449,456.00 (6,347,096.00) -98.41% 40.01 - Revenue Total 9,160.00 9,320.00 9,320.00 9,320.00 9,320.00 9,320.00 -- 18,640.00 9,320.00 9,320.00 9,320.00 -- 102,360.00 6,449,456.00 (6,347,096.00) -98.41% 40 - Revenue 40.02 - Revenue - Adjustments 40.02.03 - Revenue - Write Offs ------0.00 1.00 (1.00) -100% 40.01 - Revenue 40.02.04 - Revenue - Accounts ------0.00 1.00 (1.00) -100% 40.01.01 - Revenue - Government Receivable 9,160.00Discount 9,320.00 9,320.00 9,320.00 9,320.00 9,320.00 -- 18,640.00 9,320.00 9,320.00 9,320.00 -- 102,360.00 6,449,456.00 (6,347,096.00) -98.41% 40.02 - Revenue - Adjustments Total ------0.00 2.00 (2.00) -100% 40.01 - Revenue Total 40 - Revenue Total 9,160.00 9,320.009,160.00 9,320.009,320.00 9,320.009,320.00 9,320.009,320.009,320.00 9,320.009,320.00 -- --18,640.0018,640.009,320.00 9,320.009,320.00 9,320.009,320.00 -- 9,320.00102,360.00 6,449,458.00 --(6,347,098.00)102,360.00-98.41% 6,449,456.00 (6,347,096.00) -98.41% 40.02 - Revenue - Adjustments 50 - Direct Costs 50.01 - Direct Labor - Client Site 40.02.03 - Revenue - Write Offs ------0.00 1.00 (1.00) -100% 50.01.01 - Direct Labor - Client Site ------0.00 1,813,483.00 (1,813,483.00) -100% 40.02.04 - Revenue - Accounts 50.01.96 - Fringe Allocation-- to Direct ------0.00-- 1.00 -- (1.00) 0.00-100% 1.00 (1.00) -100% Receivable Discount Labor Client Site 50.01 - Direct Labor - Client Site Total ------0.00 1,813,484.00 (1,813,484.00) -100% 40.02 - Revenue - Adjustments Total50.20 - Direct - Non-Labor ------0.00 2.00 (2.00) -100% 40 - Revenue Total 50.22 - Direct9,160.00 Travel 9,320.00 -- 9,320.00-- 9,320.00-- --9,320.00 -- 9,320.00------18,640.00 -- 9,320.00-- 9,320.00-- -- 9,320.000.00 540,027.00 -- (540,027.00)102,360.00-100% 6,449,458.00 (6,347,098.00) -98.41% 50 - Direct Costs 50.24 - Other Direct Costs 3,000.00 3,000.00 3,000.00 3,000.00 3,000.00 3,000.00 3,000.00 3,000.00 3,000.00 3,000.00 3,000.00 -- 33,000.00 72,182.00 (39,182.00) -54.28% 50.26 - Direct Subcontractors ------0.00 613,904.00 (613,904.00) -100% 50.01 - Direct Labor - Client Site 50.30 - Direct Materials 5,000.00 5,000.00 5,000.00 105,000.00 105,000.00 105,000.00 5,000.00 5,000.00 5,000.00 5,000.00 5,000.00 -- 355,000.00 105,144.00 249,856.00 237.63% 50.01.01 - Direct Labor - Client Site50.20 - Direct - Non-Labor-- Total --8,000.00 8,000.00-- 8,000.00 --108,000.00 108,000.00-- 108,000.00-- 8,000.00 --8,000.00 8,000.00-- 8,000.00 -- 8,000.00 -- -- 388,000.00-- 1,331,257.00 -- (943,257.00) 0.00-70.85% 1,813,483.00 (1,813,483.00) -100% 50 - Direct Costs Total 8,000.00 8,000.00 8,000.00 108,000.00 108,000.00 108,000.00 8,000.00 8,000.00 8,000.00 8,000.00 8,000.00 -- 388,000.00 3,144,741.00 (2,756,741.00) -87.66% 50.01.96 - Fringe Allocation to Direct ------0.00 1.00 (1.00) -100% GM - Gross Margin Total 1,160.00 1,320.00 1,320.00 (98,680.00) (98,680.00) (98,680.00) (8,000.00) 10,640.00 1,320.00 1,320.00 1,320.00 -- (285,640.00) 3,304,717.00 (3,590,357.00) -108.64% Labor Client Site IE - Total Indirects 50.01 - Direct Labor - Client Site 60Total - Fringe Expenses ------MYCO-- - My Company------Page: 1-- of 2 0.00 1,813,484.00 (1,813,484.00) -100% Run Time: 4/4/2019 9:48 AM 50.20 - Direct - Non-Labor 60.01 - Fringe Labor Balance Sheet Statement 60.01.01 - Paid Time Off 1,242.00 0.00 (6,802.46) 156,000.00 (161,715.22) 123,780.23 0.00 0.00 0.00 0.00 56,219.77 -- 168,724.32 213,503.00Page:User: 1FCONTROLLER of(44,778.68) 2 -20.97% 50.22 - Direct Travel ------MYCOAs-- - ofMy FY18-12 Company------0.00 540,027.00 (540,027.00) -100% 60.01 - Fringe Labor Total 1,242.00 0.00 (6,802.46) 156,000.00 (161,715.22) 123,780.23 0.00 0.00 0.00 0.00 56,219.77 -- 168,724.32 Run213,503.00 Time: 4/4/2019(44,778.68) 9:48 AM-20.97% 50.24 - Other Direct Costs 60.02 - Fringe Non3,000.00 Labor 3,000.00 3,000.00 3,000.00 3,000.00CompareBalance3,000.00 Actuals Sheet to Standard3,000.00 Statement Budget3,000.00 3,000.00 3,000.00 3,000.00 -- 33,000.00 72,182.00 (39,182.00) -54.28% 60.02.01 - Employer Taxes 9,826.00 9,826.00 9,826.00 9,826.00 9,826.00 9,826.00 9,826.00 9,826.00 9,826.00 9,826.00 -- -- 98,260.00 317,152.00User: FCONTROLLER(218,892.00) -69.02% 50.26 - Direct Subcontractors ------As-- of FY18-12 ------0.00 613,904.00 (613,904.00) -100% 60.02.03 - Employer 401K 3,930.54 3,930.54 3,930.54 3,930.54 3,930.54Compare3,930.54 Actuals to3,930.54 Standard3,930.54 Budget 3,930.54 3,930.54 -- -- 39,305.40 173,820.00 (134,514.60) -77.39% 50.30 - Direct Materials Contribution5,000.00 5,000.00 5,000.00 105,000.00 105,000.00 105,000.00 5,000.00 5,000.00 5,000.00 5,000.00 5,000.00 -- 355,000.00 105,144.00 249,856.00 237.63% 60.02.04 - Benefits Administration 2,700.00 2,700.00 2,700.00 2,700.00 2,700.00 2,700.00 2,700.00 2,700.00 2,700.00 2,700.00 2,700.00 -- 29,700.00 41,916.00 (12,216.00) -29.14% 50.20 - Direct - Non-Labor Total 8,000.00 8,000.00 8,000.00 108,000.00 108,000.00 108,000.00 8,000.00 8,000.00 8,000.00 8,000.00 8,000.00 -- 388,000.00 1,331,257.00 (943,257.00) -70.85% 60.02 - Fringe Non Labor Total 16,456.54 16,456.54 16,456.54 16,456.54 16,456.54 16,456.54 16,456.54 16,456.54 16,456.54 16,456.54 2,700.00 -- 167,265.40Actuals532,888.00 (365,622.60)Budget-68.61% 50 - Direct Costs Total 60.02.99 - CONTRA8,000.00 Fringe Allocation 8,000.00 -- 8,000.00-- 108,000.00-- 108,000.00-- -- 108,000.00-- 8,000.00-- -- 8,000.00 -- 8,000.00-- 8,000.00-- -- 8,000.000.00 1.00 -- (1.00)388,000.00-100% 3,144,741.00 (2,756,741.00) -87.66% As Of 9/30/2018 As Of 9/30/2018 GM - Gross Margin Total 60 - Fringe Expenses1,160.00 Total 1,320.0017,698.54 1,320.0016,456.54 (98,680.00)9,654.08 172,456.54(98,680.00)(145,258.68) (98,680.00)140,236.77 16,456.54(8,000.00)16,456.5410,640.0016,456.54 16,456.541,320.00 58,919.771,320.00 -- 1,320.00335,989.72 746,392.00 -- (410,402.28)(285,640.00)-54.98% 3,304,717.00 (3,590,357.00) -108.64% 62 - Facility Expense Actuals Budget IE - Total Indirects 62.01 - Facility Expense As Of 9/30/2018 As Of 9/30/2018 60 - Fringe Expenses 10 - Assets62.01.01 - Facilities Rent Expense 7,000.00 7,000.00 7,000.00 7,000.00 7,000.00 7,000.00 7,000.00 7,000.00 7,000.00 7,000.00 7,000.00 -- 77,000.00 107,204.00 (30,204.00) -28.17% 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 -- 5,500.00 7,986.00 (2,486.00) -31.13% 60.01 - Fringe Labor 62.01.06 - Utilities 10.0162.01 - Cash - Facility Expense Total 7,500.00 7,500.00 7,500.00 7,500.00 7,500.00 7,500.00 7,500.00 7,500.00 7,500.00 7,500.00 7,500.00 -- 82,500.00 115,190.00 (32,690.00) -28.38% 60.01.01 - Paid Time Off 1010.01.01 - Assets - Operating1,242.00 Bank Account 0.00 (6,802.46) 156,000.00 (161,715.22) 123,780.23 0.00 0.00 0.00 0.00 56,219.774,547,577.22 -- 168,724.321,225,582.19 213,503.00 (44,778.68) -20.97% 60.01 - Fringe Labor Total 10.01 - Cash Total1,242.00 0.00 (6,802.46) 156,000.00 (161,715.22) 123,780.23 0.00 0.00 0.00 0.00 56,219.774,547,577.22 -- 168,724.321,225,582.19 213,503.00 (44,778.68) -20.97% 60.02 - Fringe Non Labor 10.01.0110.02 - Accounts - Operating Receivable Bank Account 4,547,577.22 1,225,582.19 60.02.01 - Employer Taxes10.0110.02.01 - Cash - Accounts Total9,826.00 Receivable9,826.00 9,826.00 9,826.00 9,826.00 9,826.00 9,826.00 9,826.00 9,826.00 9,826.00 --4,547,577.220.00 -- 1,225,582.1998,260.00458,633.56 317,152.00 (218,892.00) -69.02% 10.02 - Accounts Receivable Total 60.02.03 - Employer 401K 10.02 - Accounts3,930.54 Receivable 3,930.54 3,930.54 3,930.54 3,930.54 3,930.54 3,930.54 3,930.54 3,930.54 3,930.54 -- 0.00 -- 39,305.40458,633.56 173,820.00 (134,514.60) -77.39% Contribution 10.02.0110.03 - Unbilled - Accounts Receivable 0.00 458,633.56 60.02.04 - Benefits Administration10.0210.03.01 - Accounts - Unbilled2,700.00 Receivable Total2,700.00 2,700.00 2,700.00 2,700.00 2,700.00 2,700.00 2,700.00 2,700.00 2,700.00 2,700.00 13,959.830.00 -- 29,700.00458,633.560.00 41,916.00 (12,216.00) -29.14% 10.03 - Unbilled Total 13,959.83 0.00 60.02 - Fringe Non Labor Total 16,456.54 16,456.54 16,456.54 16,456.54 16,456.54 16,456.54 16,456.54 16,456.54 16,456.54 16,456.54 2,700.00 -- 167,265.40 532,888.00 (365,622.60) -68.61% 10.03.0110.06 - Net - Unbilled Fixed Assets 13,959.83 0.00 60.02.99 - CONTRA Fringe Allocation ------0.00 1.00 (1.00) -100% 10.0310.06.01 - Unbilled - Fixed AssetsTotal 13,959.83 0.00 17,698.54 16,456.54 9,654.08 172,456.54 (145,258.68) 140,236.77 16,456.54 16,456.54 16,456.54 16,456.54 58,919.77 -- 335,989.72 746,392.00 (410,402.28) -54.98% 60 - Fringe Expenses Total 10.0610.06.06 - Net Fixed - Furniture Assets & Equipment 5,000.00 0.00 62 - Facility Expense 10.06.01 - Fixed AssetsAssets Total 5,000.00 0.00 62.01 - Facility Expense 10.06.0810.06.06 - Total - Furniture Accumulated & Equipment Depreciation 5,000.00 0.00 62.01.01 - Facilities Rent Expense10.06.0110.06.13 - Fixed - Acc 7,000.00Assets Dep - Furn Total & Equip7,000.00 7,000.00 7,000.00 7,000.00 7,000.00 7,000.00 7,000.00 7,000.00 7,000.00 7,000.00 5,000.00(499.98) -- 77,000.000.00 107,204.00 (30,204.00) -28.17% 62.01.06 - Utilities 10.06.08 - Total AccumulatedAccumulated500.00 Depreciation Depreciation500.00 Total500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 (499.98) -- 5,500.000.00 7,986.00 (2,486.00) -31.13% 62.01 - Facility Expense Total 10.0610.06.13 - Net Fixed- Acc7,500.00 Dep Assets - Furn Total & Equip7,500.00 7,500.00 7,500.00 7,500.00 7,500.00 7,500.00 7,500.00 7,500.00 7,500.00 7,500.00 4,500.02(499.98) -- 82,500.000.00 115,190.00 (32,690.00) -28.38% 10.06.0810 - Assets - Total Total Accumulated Depreciation Total 4,566,037.07 (499.98) 1,684,215.750.00 10.06 - Net Fixed Assets Total 4,500.02 0.00 1020 - AssetsTotal Liabilities Total and Stockholders' Equity 4,566,037.07 1,684,215.75 20.01 - Total Liabilities 2020.02 - Total - Current Liabilities Liabilities and Stockholders' Equity 20.01Say20.03 - Total - Accounts LiabilitiesNo Payable to Spreadsheets and Get Rid of Chaos 20.02 - 20.03.01Current Liabilities - Accounts Payable 91,956.46 43,472.82 20.0320.03.02 - Accounts - Credit Payable Card Payable 47,737.68 2,466.00 20.03.0120.03.05 - AccountsExpense ReportPayable Liability As companies grow, so do the number91,956.465,669.46 of 43,472.8212,367.58 20.0320.03.02 - Accounts - Credit Payable Card Payable Total 145,363.6047,737.68 58,306.402,466.00 20.02 -20.03.05 Current -Liabilities Expense ReportTotal Liability spreadsheets required to prop up145,363.605,669.46 a legacy ERP12,367.5858,306.40 20.0120.03 - Total - Accounts Liabilities Payable Total Total 145,363.60 58,306.40 20.0220.04 - CurrentOther Accrued Liabilities Liabilities Total XLS system. Many have love-hate relationships145,363.60 with58,306.40 20.0120.04.02 - Total - Accrued Liabilities Expenses Total 145,363.6026,910.32 58,306.406,310.00 20.0420.04.03 - Other - Deferred Accrued Revenue Liabilities 87,910.24 0.00 20.04.0220.04.05 - Accrued ExpensesSubcontractor Labor ACCOUNTING C SUITE spreadsheets. They have become103,394.0026,910.32 comfortable6,310.00 0.00 20.04.0320.04 - Other - Deferred Accrued Revenue Liabilities Total 218,214.5687,910.24 6,310.000.00 20.04.0520.05 - Accrued - Accrued Payroll/Benefits Subcontractor Labor 103,394.000.00 12,345.000.00 20.05.01 - Accrued Leave using them for budgeting, forecasting,74,978.32 and 0.00 20.04 - Other Accrued LiabilitiesXLS Total XLS 218,214.56 6,310.00 20.0520.05.03 - Accrued - Accrued Payroll/Benefits Wages 1,404,012.070.00 125,865.7112,345.00 XLS 20.05.01 - Accrued Leave PPT variance analysis. They have taken74,978.32 you to where0.00 20.05.03 - Accrued Wages 1,404,012.07 125,865.71

XLS XLS you are today, but they will not take you to the PROJECT MANAGER XLS PPT PMO MANAGER next level. Right now, you may be juggling and EPARTMENT MANAGERS hand keying information into 3,4,5…10+ off- book spreadsheets, but can you really rely on

XLS them for disciplines (budgeting, forecasting, XLS resource planning, KPIs, cost calculations, PROJECT TEAM compliance support, etc.) that need accuracy and RESOURCE MANAGER precision? Not only are spreadsheets inefficient Disparate Systems • Lack of Process • Untrained Teams and error prone, they also will prevent you from having consistent processes. The more spreadsheets you have, so go the number of silos created in the organization. Silos just mean that the right people may not have the right information at the right time to make sound business decisions.

4 Budgeting in a Total Project Accounting World - General Ledger (GL) Budgets are Important Strategic Budgeting Requires a Project Based ERP Solution In order to effectively and efficiently create a strategic budget, you will need one totally integrated system that will help you seamlessly run your business. Unanet’s complete Project-Based ERP solution includes Resource Requesting & Management, Project Management, Budgeting & Forecasting, Project Accounting, Invoicing and , Timesheet Management, Expense Management, Teamwork Collaboration and Financials capabilities in a single software solution. This 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 disparate spreadsheets. You will also need a strategic partner like Strategic Consulting Solutions to assist with the setup and implementation of your system.

ONE SOFTWARE FOR PROJECTS, PEOPLE, & FINANCIALS

PLAN EXECUTE MONITOR BILL ACCOUNT

„„CRM and „„Timesheets „„Real-Time „„GAAP Compliance „„General Ledger Pipeline Mgmt Dashboards and KPIs „„Expense Reports „„Billing & Invoicing „„Accounts Payable „„Purchase Requisition & Per Diems „„Project Status, Utilization, & „„T&M, FP, and CP „„Accounts „„Budgeting & „„Purchase Orders Burn Rate Receivable Revenue Forecasting „„Revenue „„Approvals „„Open Commitments Recognition— „„Cost Pools „„Resource Scheduling As Worked, „„Collaboration „„Gross and Net % Complete, „„Indirect Rates „„Skills Mgmt and Notes Margin & Schedules „„PO Match: 2-way „„Scenario Planning „„Contract Mgmt „„% Complete & EVM or 3-way match „„Pricing „„Backlog

Budgeting in a Total Project Accounting World - General Ledger (GL) Budgets are Important

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