Journyx Customers Pass Defense Contract Audits Using Data Obtained From Timesheet Software

Customers Credit Journyx Timesheet with Providing Critical Information for Passing Audit Seamlessly

AUSTIN, TEXAS (June 14, 2006) – Journyx -- the leader in Web-based time-tracking and project accounting solutions that guide customers to per-person, per-project profitability -- today announces that several of its customers successfully passed Defense Contract Audit Agency (DCAA) audits using reports and information generated by Journyx Timesheet software. The DCAA provides audit guidelines for defense contractors with respect to their internal control processes. Labor is often the highest expense in defense contracts; therefore a robust labor management system is a requirement for any contractor that serves the U.S. Department of Defense.

Journyx customers recently completing audits using Timesheet include Lake Shore Cryotronics and Lunarline. Additionally, Signature Science, LLC – a customer of Journyx partner and reseller, AimSourcing – used Timesheet to successfully complete a DCAA audit.

Lake Shore Cryotronics

Lake Shore Cryotronics, Inc. is an international leader in the development of innovative measurement and control technologies. Lake Shore continues to reinvest in itself by utilizing Government and Small Business Innovation Research (SBIR) Contracts. As a result of obtaining these contracts and grants, Lake Shore must adhere to all DCAA requirements.

One major requirement is to have a timekeeping system that tracks every employee’s labor distribution, whether it is directly to the contract or to overhead. The administrative staff of Lake Shore must remain lean and efficient in order to continue the company philosophy of reinvesting dollars back into research and development. A paper timekeeping system would not be effective, so Lake Shore implemented Journyx Timesheet. Journyx also replaced Lake Shore’s time clock system so that every employee now tracks their time through the computer.

“The DCAA auditors were impressed with the project time-tracking, supervisor approval processes and audit log that Journyx provided to them,” said Jana Batten, Controller, Lake Shore Cryotronics. “These three Journyx features were the main reasons Lake Shore passed its time compliance audit.”

Lunarline, Inc.

Lunarline, Inc. uses Journyx Timesheet to meet the baseline DCAA requirements for a cost accounting system that is in accordance with the Generally Accepted Accounting Principles (GAAP). Journyx Timesheet provides segregation of costs through a flexible project hierarchy that directly links labor work activities to a general ledger chart of accounts, as well as accumulation of billable hours under individual contracts, tasks, and work activities.

Journyx Timesheet enables Lunarline to implement the corporate policies and procedures developed in accordance with DCAA requirements.

“Journyx Timesheet provides a flexible platform that can be easily configured to enforce rules to ensure time is accurately maintained for Government contracts,” said Waylon Krush, CEO of Lunarline. “For a Service-Disabled Veteran Owned Small Business (SDVOSB), Journyx Timesheet offers a cost-effective solution that helped us quickly become DCAA compliant and demonstrate our capability of timely reporting of labor costs that are essential for accurate billing and reporting.”

Signature Science

For government contractor Signature Science, LLC, Journyx generated a custom timesheet view that performed random virtual timesheet audits, which provides valuable data when faced with a DCAA audit. "This process allows us to monitor our daily time entry requirement in an efficient and unobtrusive manner" said Adam Hamilton, President of Signature Science.

Converting from paper timesheets to Journyx contributed to DCAA's overall confidence in Signature Science's accounting system. The integration of electronic timekeeping into the accounting system provided improved internal control to labor dollars -- the company's largest expense.

“The conversion from paper timesheets to Journyx saves a significant amount of time each week for everyone in the process -- employees, approvers, HR, and Accounting,” said Hamilton. “As an added bonus, employees have real-time access to their vacation and sick leave balances."

How Journyx Solutions Provide Valuable Data for DCAA Audits

DCAA compliance can be met only through detailed labor and cost center tracking. Journyx solutions automate the costly process of capturing and reporting contract-specific data and provide critical supporting documentation for DCAA audits. Defense contractors must have labor systems with the following internal controls:
Effective method to monitor the overall integrity of the system
Journyx Timesheet provides:
Security through password-protected accounts and configurable access
Consistency through grouping of employees and pre-populated fields
Accuracy through automated rules, totals and classification
Effective employee awareness training program
Journyx provides:
Employee training onsite and via the Internet
"Train the Trainer" sessions for transfer of skills in-house
Employee time and attendance self-service through access from any location
Effective procedures for labor approvals and correction records
Journyx Timesheet includes:
Automated approval workflow and email notifications
Configurable abilities to create new work authorizations
Appropriate access to work orders through grouping and project definitions
Audit logs and custom reports for employee and approver activity
Prior period corrections with required approval in the current period
Multiple hierarchical levels of approval
Effective procedures for labor cost accounting (cost accounting standards, contract terms)
Journyx Timesheet allows customers to:
Track cost accounting details
Enforce contract terms through configurable rules and policies
Define administrative settings and behavior at the global level
“Our customers look to us to make their time collection process simpler and more useful,” said Curt Finch, CEO of Journyx. “The features of Timesheet are important not only for DCAA compliance, but also for many other organizations, including GAAP, the Sarbanes-Oxley Act, and others. Timesheet is built with all of our customers’ most pressing issues in mind.”
About Lake Shore Cryotronics

Lake Shore Cryotronics, Inc. is a privately held corporation which has been an international leader in the development of innovative measurement and control technologies since 1968. The company philosophy has been to continue to reinvest in itself with a research and development budget that is 100 percent above the national average for instrumentation companies. To learn more about Lake Shore Cryotronics, visit www.lakeshore.com.

About Lunarline, Inc.

Lunarline, Inc is a Service-Disabled Veteran Owned Small Business (SDVOSB) that specializes in Information Security (IS) and Information Assurance (IA). Lunarline, Inc. designs, develops, integrates, maintains, audits, and documents the security for systems, telecommunications, and software throughout the Federal Government. To learn more about Lunarline, visit www.lunarline.com.

About Signature Science

Signature Science, a subsidiary of the Southwest Research Institute (SwRI) in San Antonio, Texas, is a nationally-recognized provider of technical services, including microbiology and chemistry in the areas of homeland security and the environment. To learn more about Signature Science, please visit www.signaturescience.com.

About Journyx Timesheet

Journyx Timesheet is a timesheet and expense management solution for the entire enterprise. Organizations can automate management of employee timesheets and expenses for project control, customer invoicing, and payroll processing with Journyx Timesheet. Journyx offers patented technological solutions-- not just generic tools-- that are flexible and adaptable across five platforms and multiple projects, in order to help companies identify profit opportunities along the per-person, per-project continuum.

About Journyx, Inc.

As the creator of the Web-based time tracking industry, Journyx carves out its own path, while guiding customers to their goals and destinations. Journyx helps customers reach the highest levels of profitability by automating labor-intensive, paper-based processes with a superior, Web-based solution. Founded in 1996, Journyx is the first and only company to establish Per Person/Per Project Profitability (P5), a proprietary process that enables customers to gather and analyze information to discover profit opportunities. Journyx has thousands of customers worldwide, including American Airlines, Bayer, BlueCross BlueShield, AC Nielsen, L'Oreal, Symantec, The Discovery Channel, Schlumberger, Capstone Turbine and many others. Journyx solutions are available both on an application service provider (ASP) and a standard license basis. For more information, go to http://pr.journyx.com or contact Journyx at (512) 834-8888 or info@journyx.com.

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