WrkPlan’s fully integrated, all-in-one ERP platform makes it easy to manage the accounting and financial aspects of federal government contracting.  This is possible because our system includes all the necessary components, which are synchronized and in communication with each other.

Consider your labor distribution and the associated cost accounting. In WrkPlan, setting up contracts and labor categories will automatically set up the necessary cost accounts. The human resources module is linked to a built-in timesheet & expense reporting system. In the HR module, employees are assigned timesheet charge numbers and their labor categories.

Once those timesheets are approved, the posting process will do the following:

• Calculate the Effective Hourly Rate for salaried employees
• Apply the Health & Welfare supplement to Service Contract Act employees
• Apply any special rates, including time and a half overtime for non-exempt employees
• Set up journal entries to all the labor accounts
• Accrue additional vacation and sick leave per the policies assigned to each employee
• Set up journal entries for vacation and adjust employee PTO balances
• Export hours data to the payroll service of choice

All this in a single click of a button in your WrkPlan system.  If you’re interested in learning more or seeing our platform in action, click here to schedule a demo:  https://www.wrkplan.com/contact-us

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