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Step 1:
Import data into GovBooks to bring in the current general ledger accounts from QuickBooks. Click on "System Setup".
Step 2:
Click on "QBO Integration".
Step 3:
Click on the "Import data from QB Online" button. After the import is completed, your most current chart of accounts from QuickBooks Online will be loaded into GovBooks.
Step 4:
Click on "Pools" to open the Pools module.
Step 5:
Click on the "Pools Setup Wizard".
Step 6:
In the "Fringe Pools" tab, complete the requested information. At least one fringe pool is required. If you don't have a fringe pool (uncommon) you can skip this screen and go the next tab. If you have more than one fringe pool, click on "Yes" to the last question which is "Is there a second fringe expense pool allocated based on labor?". You may add up to 10 fringe pools.
Step 7:
In the "Facilities Pools" tab, complete the requested information. A facility pool is not required. If you don't have a facility pool (uncommon) you can skip this screen and go the next tab. If you have more than one facility pool, click on "Yes" to the last question which is "Is there a second facility expense pool allocated to other indirect pools?". You may add up to 10 facility pools.
Step 8:
In the "Overhead Pools" tab, complete the requested information. An overhead pool is not required. If you don't have an overhead pool (uncommon) you can skip this screen and go the next tab. The default allocation method is 3-tier but you may change this to 2-tier with the dropdown field for "How should fringe expense associated with direct labor and/or B&P/IR&D labor be allocated". If you have more than one overhead pool, click on "Yes" to the last question which is "Is there a second overhead expense pool allocated based on labor?". You may add up to 10 overhead pools.
Step 9:
In the "Value-added Pools" tab, complete the requested information. A value-added pool is not required. If you don't have a value added pool you can skip this screen and go the next tab. If you have more than one value-added pool, click on "Yes" to the last question which is "Is there a second value-added expense pool?". You may add up to 10 value-added pools.
Step 10:
In the "Service Center Pools" tab, complete the requested information. A service center pool is not required. If you don't have a service center pool you can skip this screen and go the next tab. If you have more than one service center pool, click on "Yes" to the last question which is "Is there a second service center pool?". You may add up to 10 service center pools.
Step 11:
Click on "Account Assignment". You will see that the columns across the top are dynamically loaded based on your selections in the "Pool Setup Wizard". The general ledger accounts are the ones imported from QuickBooks Online. Your goal is to assign every general ledger account to one or more of the following categories depending on the design of your indirect rate structure: (1) direct labor (2) direct non-labor (3) indirect pools (4) indirect bases and (5) excluded accounts. The accounts are sorted by account number. a "-" preceding an account means that there is no account number in QuickBooks Online. You can scroll up and down and across as needed and if you click between the check boxes the row will be highlight to make tracking easier.
Step 12:
Click on "Indirect Rate Setup". In this screen, you will add any indirect rates that you may want to use for reporting purposes. GovBooks will calculate your actual rates based on your historical transactions, which we call "Computed Rates", and you will be able to select "Computed Rates" to be displayed on reports. In addition to "Computed Rates", you can also display 4 additional indirect rates for reporting purposes. "Estimated Rates" and "Budget Rates" can be entered here for display. "Provisional Rates" can be entered here to display the billing rate you negotiated with DCAA or another federal agency. "Final Rates" can be entered to represent the indirect rate that is finalized after an audit with DCAA or another federal agency. This screen is optional but it is very useful for reporting purposes.
Step 13:
If you have one or more facility pools, click on "Facility Pool Setup". A facility pool collects expense that are related to facility cost such as rent and utilities, and then allocates the facility expenses to other indirect pools based on an allocation method. You can use any allocation method and enter the percentage allocation in this screen by indirect pool and fiscal year.
Step 14:
If you have one or more service centers, click on "Service Center Setup". A service center collects expense that are related to an internal service department such as a fleet of vehicles or a computer center which is then charged to internal "customers" based on usage. The use of the service center is then allocated to other indirect pools based on an allocation method. You can use any allocation method and enter the percentage allocation in this screen by indirect pool and fiscal year.
