Mayvin Eases the Challenge of Federal DCAA Regulation Compliance Using Journyx
What Journyx did for us:
Journyx Timesheet provides a cost-efficient system that is highly user friendly, online accessible, auditable, and has easy options for accounting system interface.
The Mayvin Consulting Group, Inc. – a small, women-owned, veteran-owned consulting firm specializing in program management support services – formerly used Quickbook’s Timetracker Service for employee time tracking. As Mayvin expanded its footprint in the government contracting environment, Quickbooks Timetracker Service didn’t provide the managerial controls, customization options, or reporting features needed for Mayvin’s proposal efforts or compliance requirements with the Defense Contract Audit Agency (DCAA).
“We support federal contracts and need a timekeeping system with timekeeping controls, segregation of cost requirements, and approval processes that comply with DCAA regulations,” said Mayvin Chief Financial Officer, Victor Pirowski. “Journyx Timesheet™ provides a cost-efficient system that is highly user friendly, online accessible, auditable, and has easy options for accounting system interface.”
“Our employees log their hours on a daily basis in Journyx Timesheet and submit final timesheets twice a month. We have approval plans for supervisors to review submitted timesheets and leave requests, daily reminders for time entry, and we use the Journyx AccountLink interface with our Quickbooks Accounting System. We segregate billable hours from indirect and overhead hours to help us efficiently bill clients, collect costs, and meet government DCAA audit standards.
One hundred percent of the company – every employee, manager and executive in the organization – uses Journyx Timesheet on a daily basis. We collect hours against federal government contracts as well as our overhead accounts, and we are able to track paid time off accrual balances.”
“Journyx Timesheet allows us to collect hours in a user-friendly, efficient, and intuitive format that interacts easily with our other accounting systems. It also collects an audit trail for timesheet creation, approvals and allows for user and manager comments. The accounting and billing departments find the custom reports helpful; the reports make booking and billing more efficient than ever before.
We have been able to establish timekeeping rules and enact policies across a geographically dispersed organization. Timesheet allows us to push the burden of time approval and submittal reminders to each employee’s direct supervisor, ensuring more accuracy and accountability.”
The Mayvin Consulting Group: http://www.mayvin3.com
Article: Understanding and Complying with Federal DCAA Regulations