DCAA compliant, easy-to-use QuickBooks compatible software.
ICAT enables contractors to continue using their QuickBooks accounting system rather than implementing much more costly systems.
ICAT installs easily and works with QuickBooks, computing indirect rates and allocating indirect costs to contracts. For a new QuickBooks company, ICAT automatically loads the chart of accounts, and configures indirect cost pools and bases for computing rates. For existing QuickBooks companies, cost pools and bases can be easily configured to work with your existing chart of accounts. Many government contractors have successfully implemented ICAT. Using ICAT, contractors have passed their DCAA accounting system review qualifying them for Cost-Plus-Fixed-Fee type contracts. ICAT provides the functionality for computing indirect rates and allocating indirect costs to contracts – a critical requirement for determining the Government’s obligation for reimbursing costs to the contractor.
ICAT is a must have for Government Contractors using QuickBooks.
- Calculate Indirect Rates
- Produce an Indirect Rate Report showing pool components, base components, and indirect costs allocated to each base component
- Allocate Indirect Costs to Jobs
- Produce Contract Cost Reports showing direct costs and allocated indirect costs by job
- Can produce an Incurred Cost Submission Worksheet
- Reports can be run using actual rates or billing rates
- Provide templates for automatic set-up of chart-of-accounts, indirect cost pools and rate calculations
- Choose among many templates for your indirect rate model or custom design your own
- Include transaction search feature to easily identify any direct cost transaction not assigned to a job
Consistent with the requirements of the Federal Acquisition Regulation Part 31.2.