Here are some key advantages of Unanet for small government contractors:

For small government contractors, QuickBooks is a common and cost-effective starting point for accounting. But as your business grows and you take on more complex contracts, you’ll likely find its limitations.

Unanet is built specifically for the challenges of government contracting. It’s an all-in-one system that combines project management, timekeeping, and financials. This gives you a single, reliable source of information, eliminating the need to juggle multiple software programs and manually enter data. Moving from QuickBooks to Unanet is a strategic step that sets you up for greater efficiency, easier compliance, and long-term growth.

Four metrics that suggest when Unanet may be beneficial:

1. Financial Resources: Resources to invest $25k to $50k+ in a setup plus $5k to $10k+ additional monthly fees (vs. QBO for 200 employee firm)
2. Multiple project managers
3. Employees: 50-200
4. Revenue: $10m+

Here are benefits:

DCAA Compliance Out-of-the-Box:

• Unanet is built to meet DCAA requirements, including compliant timekeeping, expense tracking, and indirect cost allocation methodologies.
• It provides audit trails and robust reporting capabilities essential for passing DCAA audits with confidence.
• This inherent compliance significantly reduces the risk of costly penalties and contract disputes.
• Comparison – QBO is not built for DCAA and cannot follow all requirements out of the box, often spreadsheets are required as well as other third part add-ons and there is stress of passing DCAA audits. This approach wastes time, increases errors and can hinder a contractor’s willingness to take on larger, more profitable projects.

Integrated Project Costing & Management:

• Real-time visibility into project profitability and performance empowers project managers to make informed decisions and stay within budget.
• Features like resource planning and forecasting ensure optimal utilization of labor cost efficiency.
• Built in project management features that allow multiple people to view details without changing them.

Streamlined Time and Expense Reporting:

• Unanet’s electronic timekeeping and expense reporting modules are designed for DCAA compliance, with built-in approval workflows and audit trails.
• This automation reduces manual errors, accelerates payroll and invoicing processes, and ensures accurate labor cost allocation.

Robust Reporting and Analytics:

• Unanet provides a wealth of customizable reports specifically tailored for government contracts, offering insights into contract performance, profitability, and compliance.
• Access to real-time data and advanced analytics enables data-driven decision-making, helping contractors identify trends and optimize operations.

Scalability for Growth:

• Unanet can handle increasing transaction volumes, more complex contracts, and a larger employee base without requiring significant overhauls.
• Comparison – QuickBooks may suffice for initial ventures, Unanet is built to scale with a growing government contracting business.

Improved Efficiency and Reduced Manual Work:

• By consolidating various functions into a single system, Unanet automates repetitive tasks, eliminates data silos, and reduces the reliance on manual spreadsheets.
• This frees up valuable time for accounting staff and project managers to focus on strategic initiatives rather than administrative burdens.
• Unanet provides a streamlined invoicing process with inception-to-date tracking built into the system.
• Comparison – Since QBO is not designed for government contracting, there are many manual workarounds required on a monthly basis taking up valuable resources.

While the initial investment in Unanet is higher than QuickBooks, the long-term benefits in terms of compliance assurance, operational efficiency, reduced audit risk, and enhanced growth potential far outweigh the upfront cost. For small government contractors serious about expanding their footprint in the federal market, making the transition to Unanet is not just a smart choice; it’s a necessary one.

Bay Business Group has worked with many clients to transition from QBO to Unanet. BBG clients have seen the following results upon switching to Unanet –

1. Client closing improved from end-of-month to typically by 15th of following month
2. Invoicing takes fewer days and has significantly fewer corrections needed
3. Consistent closing times achieved – same timeframe for two consecutive years
4. Better visibility into missing items (expense reports, uncoded transactions) for faster resolution