DCAA Accounting 101 – Getting Started
Accounting can be difficult within any industry or size of company. Debits and credits, fiscal periods, ledgers, fixed and adjustable costs, allowable and unallowable expenses, inventory, profit or revenue; the list, even if short, seems to go on forever. Accounting is daunting, but never as so much than for those who win contracts with the […]
DCAA Compliant Timesheet – Requirements Overview
Okay, your company believes it is ready for a government contract. You also believe no other company can offer the services you can at the prices you can. Great! You are ready to go and get the paperwork started. Stop. First, ensure that you review DCAA requirements in order to keep a DCAA compliant timesheet. […]
DCAA Timesheet – Timekeeping Best Practices
Timekeeping is crucial; there is no way around it if you plan to be a government contractor. In addition, if you become a government contractor, be prepared to be audited by the Defense Contract Auditing Agency (DCAA). Do not worry; be prepared! Follow these timekeeping best practices when filling out your DCAA timesheet and come […]
DCAA Timecard – Automation vs. Manual Entry
It can be tough when your company is small to medium size to meet all the standards and policy expectations of the Department of Contract Auditing Agency (DCAA), especially when it comes to the financial side of those expectations. These costs can be staggering when you are having your first interaction with the demands of […]
DCAA Timekeeping – Overview of Requirements
The Defense Contracting Auditing Agency (DCAA) is a stickler for rules and Timekeeping is not an exception. The importance of DCAA timekeeping cannot be understated. The goal is simple — prevent fraud and waste; therefore, a good managerial eye and employee timekeeping system is necessary. What makes employee work hours so important is that there […]
What is DCAA Compliance?
To comply with the regulations regarding proper financial management, government contractors must satisfy the Defense Contract Audit Agency (DCAA), which is responsible for performing all audits for the DoD, and for providing accounting and financial advisory services to DoD components responsible for procurement and contract administration.
What is a DCAA Audit?
Generally Accepted Government Auditing Standards can be found in the DCAA Contract Audit Manual. It is an instruction book for auditors who work on behalf the government. It discusses standards for auditing, how to plan for an audit, cost accounting standards, auditing of estimates and proposals, statistical sampling techniques for audits, who can obtain audit […]
What are the Top DCAA Software Firms?
DCAA compliance is integrated into accounting system software to ensure that the estimating, tracking, costing, and billing of projects easy and manageable–simplifying cost control and planning. This type of software includes Quickbooks. Here are a few key DCAA features to look for in your software to avoid an audit: Allocations are posted to contracts and […]
Why Would I Buy Microsoft Dynamics Instead of Another Accounting Software?
Microsoft Dynamics solution was created specifically for companies that provide services and sell products to the Federal Government to help these companies better manage and maximize their business. It provides financial management and project accounting in one easy-to-use format.
How do I get DCAA approved?
The DCAA and the different branches of the military hold free seminars on their procurement processes. However, there are many websites where you can find documents, guideline manuals, and many answers to your questions towards approval. The best place to start would be the guideline manual available at the DCAA website: http://www.dcaa.mil .