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 enabled these contractors to continue using their QuickBooks accounting system rather than implementing much more costly systems. ICAT is a must have for Government Contractors using QuickBooks.