S2 Project Accounting

A software system designed by S2.

About S2 Project Accounting

Designed for MAS 90 & MAS 200 Platform

Government contractors know all about the Defense Contract Audit Agency. So do we! In fact, S2 Incorporated originally designed the S2 Project Accounting module after extensively working with government contracting agencies and providing consulting for products such as Deltek’s GCS Premier", Costpoint " and MAS 90". Having completed numerous presentations and product demonstrations for government contracting firms and CPA’s, some being former DCAA auditors, we have continually developed our products with a constant eye toward FAR -Federal Acquisition Regulations, DCAA -Defense Contract Audit Agency and CAS -Cost Accounting Standards. Many of our clients after passing their audits using our system, tend to recommend our solution to many other growing companies.

Very few commercially available cost accounting systems provide true compliance with the DCAA’s stringent requirements for government contractors. S2 Project Accounting" module, S2 e-Timesheet" for MAS 90 are among those very few that can lay claim to that qualification. Again with an eye toward giving the government contractors the tools they need to operate successfully in the market they serve. S2 Incorporated raised the bar by adding a new and exciting feature; GSA Schedule and Non- Schedule Revenue Recognition. This allows users to record, post and report contract revenue in multiple revenue buckets. They can easily separate their GSA Schedule Revenue and non --Schedule Revenue from other contract revenue items with the simple click of a button, thereby saving countless hours and other associated costs in preparing for GSA & DCAA audits.

It’s All About the Reports & the Audit Trail. Both S2 Project Accounting" Module and S2 E-Timesheet" Meet All of the Cost Accounting Guidelines Specified on Standard Form 1408 Mentioned Below: (Accounting System Evaluation Checklist)

  • Accumulation of actual direct costs by labor category and job
  • Accumulation of costs under General Ledger Control
  • Bid & Proposal and Independent Research & Development Treatment
  • Calculation of multiple indirect rates per job or task
  • Identification and accumulation of direct costs by contracts
  • Inception-to-date job or task detail
  • Indirect cost accumulation and allocation using provisional, budgeted, or actual burden rates
  • Labor distribution system that charges direct and indirect labor to the appropriate cost objectives
  • Proper segregation of direct costs and from indirect costs
  • Segregation of preproduction costs and production costs
  • Time-keeping system that identifies employees’ labor by intermediate or final cost objectives
  • Tracking and segregation of unallowable costs
  • Tracking of employee labor by intermediate or final contract objectives & Uncompensated overtime

Government Compliance: An inadequate accounting system can be a detriment. Unable to segregate direct costs from indirect costs? Don’t have a system that excludes unallowable costs when billing the government? No timekeeping system for identifying labor hours? These are just some of the limitations that can affect your ability to compete for government business.

Developed from ground up the S2 Project Accounting" module has gone through rigorous testing by government contractors, commercial contractors, architects, engineers while surpassing all their needs the module has become a leader in the industry. It is specifically designed to meet all the stringent requirements set forth by the DCAA Standard Form 1408, FAR & CAS.

Our ‘Success Stories’ come when clients pass their DCAA & CPA Audits. Having passed 11 DCAA audits in the past two years, we have proved to our clients that what we are doing is in fact the right thing! The S2 Project Accounting" has a built in Invoice Writer, which allows its end users to create any government & non-government invoice format they may require. Complex forms such as the AIA, 1034/1035 Invoices, DD250 Form, can simply be added as templates to your existing invoice formats.

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