Penta Research

Penta Research provides Government and Defense Contractors with exceptional engineering and aerospace research services including Weapon Systems Engineering, Missile Systems Engineering, Radar Engineering/Analysis, Modeling and Simulation, and Software Development.

OfficeMinder Solutions worked jointly with Penta Research to develop a job cost system for tracking and forecasting employee time against projects, creating detailed invoices to exacting government standards, integrating timecards and invoices with Quickbooks Enterprise, providing necessary database and process validation to pass DCA audits, and for providing management with complete financial information to effectively manage projects for maximum profitability.


System Features:

Data Capture:

  • provides employees with list of authorized projects
  • enables management signoffs of timecard submissions
  • notifies delinquent submissions or approvals
  • prints weekly timecards
  • posts labor costs to QuickBooks
  • supports on site and off site time entry
  • imports vendor list from QuickBooks
  • posts project costs to QuickBooks

Planning, Tracking, and Forecasting:

  • provides flexible forecasting of employee's hours
  • uses employee cost and billing data to generate accurate forecasts
  • updates forecasts with actual costs as they are incurred
  • generates complete financial projection monthly through end of contract

Invoicing:

  • Automated invoicing collects costs from time cards, Material, SubContract, and ODC bills, creates template driven invoices, then records the Invoice transaction in QuickBooks.
  • generates invoices based on user-defined billing dates
  • calculates year end billing to adjust for actual vs billed G&A and Overhead
  • uses government or user defined templates

Outputs and Reports:

  • A wide variety of reports enable management to plan, forecast, and track project labor, costs, revenues, and profitability.
  • Weekly timecards
  • Invoices on government or user defined templates
  • Excel based planning and forecasting tool
  • Rollups of all projects, including costs, projections, and profitability
  • By job or employee, by hours, costs, or revenues, for any given time period

QuickBooks Integration:

  • Posts clearing accounts to QuickBooks based on timecards
  • Posts direct labor
  • Posts indirect labor (personal leave, holidays, R&D, proposals, etc.)
  • Posts G&A and Overhead
  • Posts employee bonus, pensions, or other pools based on profitability, revenues, etc.
  • Posts Travel, Materials, Subcontractors, and ODC bills
  • Posts Invoices and Credit memos
Link to Penta Research www.PentaResearch.com
Logo