Finance / Project Accounting
JAMIS. GovCon Software.
- Real-time Key Contract & Project Reports
- Cost Accounting & Billing Systems
- Optimize Contracts, Contract Line Items & Contract Task Orders
- Manage Indirect Cost Structures
- Minimize the Risk of Misallocations & Mischarges
JAMIS Prime’s Finance/Project Accounting Suite is designed to meet the critical accounting, back-office, and operations needs and challenges of the most demanding government contractors while offering real-time insight into key contract and project management performance metrics. Proper use and configuration of JAMIS Prime provides government contracting clients with an ERP system that will enable full compliance with DCAA, FAR, and CAS requirements. JAMIS Prime enables government contractors to:
- Comply with applicable laws and government contracting regulations
- Maintain and sustain acceptable cost accounting and billing systems
- Optimize the ability to control and manage all types of contracts, contract line items and contract task orders
- Manage, control, and adjust indirect cost structures and support the generation of annual incurred cost proposals
- Provide reliable cost and pricing data to support management decisions
- Streamline operations with a comprehensive accounting suite capable of managing multiple companies, currencies, and branches.
The JAMIS Prime ERP Finance/Project Accounting Suite features include these capabilities:
JAMIS Prime’s job/project cost accounting system satisfies the requirements of government contracting by supporting the four basic features necessary in government job cost accounting:
- Tracking of detailed cost information (direct, indirect, and overhead expenses) for each contract, project, and subtask
- Allocation of indirect costs to final cost objectives
- Treatment of unallowable expenses which are required for cost reimbursable contracts
- Special treatment of Research and Development (R&D) and Bid & Proposal (B&P) expenses
- Comply with Federal Acquisition Regulation (FAR) Part 31
- Satisfy the audit requirements of the Defense Contract Audit Agency (DCAA)
- Manages proper segregation of direct costs from indirect costs
- Supports identification and accumulation of direct costs by contract, contract line, or task order
- Enables estimating, tracking, and controlling project costs, billing, and revenue
- Manages proper allocation of indirect costs to intermediate and final cost objectives including flexible indirect rate pool and base setup built to support multiple sites and unlimited sets of indirect rates
- Automates exclusion of unallowable costs (FAR 31 or other contract provisions); can designate certain cost elements as unbillable, unallowable, or both
- Promotes proper job charging by identifying which areas of the ERP system can use specific jobs (for example, a job could be set up to be used for expense only or time and labor reporting only)
- Automates retroactive burden rate adjustments for truing up provisional rates
- Supports real-time calculation of actual burden rates and comparison to budgeted or target rates
The General Ledger module provides a central repository for collecting and analyzing your financial information. Entries can be made directly into the General Ledger or from other application modules before being posted to the General Ledger software module. Government contractors may choose to keep their general ledgers at a highly summarized level while having all the project information contained in the fully integrated job cost sub-ledger.
- Provides flexible GL Account Structure—Meet your reporting and analytical requirements by defining segments, segment lengths, and segment values
- Incorporates full GL Account Security—Control which users and roles can view and create transactions for specific General Ledger accounts to protect sensitive data and improve the accuracy of data entry
- Provides integrated reporting tools that utilize the GL account structure so you can design financial statements that are tailored for your business; publish reports on the web or distribute them through email in Excel or PDF formats
- Offers flexible configuration of financial periods—select monthly, bi-monthly, or annual, or define a custom set of financial periods; keep financial periods open as long as required to complete data entry and audit the balances
- Incorporates a complete set of inquiry screens and reports that can be utilized to gain immediate access to GL balances; drill down to the originating document from any inquiry screen or report, even if the transaction was created in another module
- Enables the creation of recurring transactions based on specific schedules and time periods
The Accounts Receivable module allows you to manage receivables and automate billing operations tasks. The AR module is used to enter customer invoices, send customer statements, collect and apply payments, verify customer balances, track sales commissions, and deliver customer reports.
- Automates invoice and statement delivery—format statements for printing or generate documents in HTML or PDF formats for delivery via email; stores copies of all documents with the customer record for future reference and auditing
- Provides easy access to all prior Invoices—copies of all invoices can be stored and searched for by customer or contract
- Integrates automated credit card processing while providing flexibility to manually enter charges, void transactions, and issue refunds
- Includes inquiry screens to view credit card transactions and issue warnings about expiring credit cards; connect to any bank processing center by using one of the included processing plug-ins or by building a custom plug-in using our SDK
- Supports Recurring Billing, including recurring monthly fees, setup fees, renewal fees, consumption-based fees, overage charges, and minimum charge amounts, enabling you to bill any type of customer agreement
- Includes Customer Account Security, allowing you to specify which individuals and roles can view and modify customer account information and balances, preventing unauthorized account access and restricting sensitive customer information
The Accounts Payable Module allows you to manage liabilities for purchased and received goods and services. It helps you automate payment processing, predict cash requirements, track vendor balances, and gather statistical information. Comprehensive reports and inquiry screens provide complete overviews of current AP state and analysis of historical vendor performance.
- Provides complete payment approval process that enables you to automatically approve bills for payments or go through a payment approval process to prioritize or delay the bill payment, select the account the bill should be paid from, and select a method of payment. Once the bill is approved for the payment you can print the check or issue an electronic payment.
- Creates recurring bills to reduce data entry and reduce potential errors and enables you to set the frequency of the payment as well as the time frame. Once established, recurring bills will appear in the recurrent transaction processing screen so you can modify and release them.
- Manages vendor refunds—you can apply a refund towards a debit adjustment or prepayment document.
- Provides a full set of aging reports for analyzing your AP obligations. Aging reports provide total outstanding balances as well as past due accounts to help you analyze your AP, cash requirements, and vendors performance.
- Tracks 1099 payments for each vendor and produces the appropriate 1099 reports
- Provides vendor account security that allows you to specify which individuals and roles can view and modify vendor account information and balances to prevent unauthorized account access and restrict sensitive vendor information.
The Cash Management module allows you to manage day-to-day operations related to cash transactions, cash balances, funds transfer, and bank account reconciliation. The Cash Management module is integrated with the General Ledger and other financial modules.
- Provides seamless integration between the Cash Management module and the General Ledger, Accounts Payable, and Accounts Receivable modules; all cash account transactions entered in these modules are automatically collected by the Cash Management module for clearing and reconciliation while transactions entered in the Cash Management module—which is linked to a vendor or customer account—will create entries in the Accounts Payable or Accounts Receivable modules and update the appropriate balances
- Allows funds to be transferred between bank accounts and tracking of funds that are in-transit; record any associated bank expenses directly in the transfer form
- Simplifies the process of reconciling account balances with bank statements—for each bank account, you can enter the statement information provided by the bank and reconcile it with cash account transactions in the system; during reconciliation, you can add bank charges, bank interest, and record any omitted cash-related transactions directly from the reconciliation screen
- Maintains complete remittance and payment information from vendors and customers when accounts are established by linking required information to the type of payment preferred (for example, if a customer wants to pay by credit card you will need to gather specific information, while if a customer wants to pay by wire transfer, you may need to include specific information on your customer remittance form)
- Allows you to configure the list of processing centers that you will use for cash collection and associate customer payment methods with a particular processing center; this information is used in the Accounts Receivable module for automated credit card processing.
- Enables cash account reporting to reconcile cash accounts balances and manage short-term cash reserves as well as cash forecasts and projections—drill down inside summary reports to review the detailed transactions
The Tax Management module provides a centralized tax configuration, management, and reporting. The system stores taxation settings and provides tax audit and tax reporting functionality. Taxation settings are used across the system to provide an accurate and consistent collection of tax information. Provides functions required for preparing reports for tax agencies and preparing supporting documents required for tax audit and filing.
- Flexible Tax Configuration—Provides support for sales, use, withholding, VAT and reverse VAT taxes. For each tax, you can specify multiple rates with different start and end dates as well as minimum and maximum tax amounts. Taxes can be calculated on each line item or the entire document amount. Taxes can also be calculated on other taxes or only online item charges.
- Integrates with all modules that require tax calculation. Tax calculation is performed automatically based on the tax zone assigned to the customer, employee or vendor record, and the tax category assigned to inventory items. Manual tax adjustments are also possible. Calculated tax is posted to a dedicated tax liability account in the general ledger and to designated accounts in the tax management module for future tax reporting.
- Automatic Offset with Accounts Payable—Allows you to represent tax agencies as vendor accounts. Within the tax vendor account, you can specify the frequency of tax reporting and assign a vendor code to the tax. Each tax period, you can prepare tax reports for the tax vendor and close the tax period upon completion. JAMIS Prime automatically generates a bill in accounts payable that will offset tax liability for the reported period with the AP account associated with the tax agency.
- Flexible Tax Reporting—Enables you to configure the tax reporting requirements for various taxes you are required to pay or report for each tax authority. By configuring different tax categories, you can generate summary reports or retrieve the tax details for each tax zone. These flexible options enable you to prepare all of the statistical information required by tax authorities for filing tax reports.
JAMIS Prime automates inter-company accounting and inter-entity transfers for organizations with multiple business entities. It seamlessly manages financial reporting, centralized bill payment, centralized cash management, and inter-entity transfers, allowing you to monitor, manage, and create reports across multiple subsidiaries or functional groups within your organization. The system automatically creates due-from and due-to entries for inter-company transactions so your accounts stay in balance, and your consolidated reports accurately reflect company-wide results.
- Supports centralized accounting for functions such as cash management, vendor payments, and customer invoicing. Inter-company accounting features attribute income and expenses to the entity that initiated the transaction, even though administration is done centrally.
- Supports automatic eliminations and reporting. Individual ledgers are maintained for each organizational entity. Inter-company transactions are automatically eliminated when rolling up financial statements across multiple organizations.
- Enables you to create roles and groups of users that have access to specific organizations and the associated transactions. Users with access to multiple organizations or branches can rapidly switch views without logging in again.
- Provides account-based controls that let you define which accounts allow inter-company transactions—for example, you may allow inter-company transactions for your balance sheet accounts while excluding others.
- Integrates with the fixed asset management module, allowing you to assign and track fixed assets to specific organizations. When assets are transferred, depreciation and purchase history move with the asset.
- Provides overhead expense management so you can allocate account transactions to other entities to associate shared activities among multiple organizations. Use predefined allocation rules or define company-specific allocation rules.
- Links inter-company accounting features to all other modules to provide a complete audit trail of all inter-company transactions. The system keeps the details of all scheduled transactions, including the user who entered the transaction and the user who modified the record.