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We are pleased to announce the release of version 2.1.1. The following features are now available in GovBooks.
Wrap Rate Calculator
You can now calculate your wrap rate and bill rate in GovBooks for labor categories and save the calculation for future reference. As an option, you can associate the wrap rate with a Project. Wrap rates, also known a multipliers, are used to calculate an hourly bill rate for a labor category on a T&M contract by multiplying the wrap rate with the direct labor hourly rate. Three calculation methods are supported; three-tier, two-tier and single pool. The Wrap Rate Calculator can be found in the Pools module.
Awards and Line Items
You will notice that GovBooks no longer is using the nomenclature of Contracts and CLINs and instead replaced those terms with Awards and Line Items. The functionality remains the same. Awards are handled in the same manner as Contracts. Line Items are handled just like CLINs. This change is a reflection of how GovBooks is used not only for DoD contracts but also for contracts and grants from other federal agencies. In addition to DoD contracts, GovBooks manages contracts and grants from NIH, NSF, DOE, DOT, NASA and any other federal or state agency when cost reimbursement, funding and indirect rates are important.
Transaction Detail Report
We have added two additional fields to the Transaction Detail Report; Class and Location. You can now filter, sort, and sub-total on these fields, as well as select which columns to display on the report. The Transaction Detail Report allows you to easily customize and bookmark just about any detailed transaction report with GovBooks' easy to use filters and controls.
Additional Enhancements
Account Assignment. Improved and highlighted button control when selecting a filter to display accounts.
Multi-currency. GovBooks can now report on multi-currencies if being utilized in QuickBooks Online.
Award Setup. Added the selection option of "All" in the Projects field. Added a "Notes" field.
Labor Distribution. Allow employees to be selected only once in the Employee screen.