Now that you have decided to become a government contractor and have purchased your DCAA compliant software you’re not done preparing for proposal review. When dealing with the government and pricing you must be able to verify your pricing; hopefully you have selected DCAA compliant software that helps you with basis of estimate (BOE). So what is BOE? BOE is a cost structuring/explanation method. The goal and value of BOE is that it provides solid numbers when determining if you can perform a project at […]
Top 5 Tips to Selecting DCAA Compliant Software
As you know, before you can become a contractor you must first be audited by the Defense Contracting Auditing Agency (DCAA) for contract approval. This audit will include just about everything you can imagine – especially, every aspect of your accounting software. To be successful when desiring to become a government contractor, you must be able to comply with the DCAA regulations. However, there are still a few companies that use the old school paper and pencil method most use DCAA compliant software. What becomes […]
DCAA Compliant Software is Not Adequate Enough – Gotta Have the Whole Package
If you are dealing with government contracts or hope to become a government contractor, you know that your accounting system must be DCAA compliant. Selecting such software is difficult enough without having to worry about all the other aspects DCAA will be considering when reviewing your accounting system. Yet, you must! There a quite a few “systems†the DCAA will be reviewing for compliance and you need to be ready. To understand how in-depth the DCAA can get, you must first understand that the objective […]
Deciding to Hire a DCAA Consultant
You have come to the point that you believe your company can take on a government contract. You know that you can produce a product or service at a better price and more efficiently than any of your competitors. In addition, you have a great staff that is not only knowledgeable in many areas, but they are ready and willing to make the journey into government contracting with you. The stars seemed aligned in your favor, but there is one little problem – you are […]
Tips for keeping timesheets
Keeping timesheets is imperative for successfully dealing with the Defense Contract Auditing Agency (DCAA) and fulfill your contract in a proper manner. Meeting the requirements and demands of the DCAA can be time consuming and tedious; follow these five tips to ease the pain: ¬   Use DCAA compliant software. These software packages will keep everything at hand and make sure that all needed reports are developed. ¬   Hire a consultant to guide you through the DCAA Accounting System Review. This will prove beneficial from day […]
DCAA Reporting – What the Government Requires
The Defense Contract Auditing Agency (DCAA) requires a lot of reporting! For example, DCAA reporting requires that employee work hours be segregated from other areas of the business. If there are any changes to timesheets reports must show proper authorization and that the payroll department or personal cannot change or control employee hours. The DCAA also wants procedures and processes that can be checked and verified to ensure there have not been any violations to the timesheets or fraud and waste. Additionally, reports on timekeeping […]
What is a DCAA Contract?
If you are wondering what a Defense Contract Auditing Agency (DCAA) contract is you are not the only one. There is often confusion about what the DCAA does. The DCAA does not create contracts; the DCAA Audits government contracts to ensure that contractors are able to meet the government accounting requirements. The DCAA ensures that the contractor’s accounting system is able to separate accounting functions like timekeeping, accounts payable, payroll and others. They also ensure that policies and procedures concerning separate accounting functions are in […]
DCAA Consulting – How to Choose a Consultant
So, you have decided to hire a consultant to get you through all the hoops the Defense Contract Auditing Agency (DCAA) has setup. These hoops usually involve rules, regulations, policy, and procedures that can seem and often are overwhelming. You know a DCAA consulting may be costly, but you also know a DCAA consultant will make your life easier when dealing with your contract. You still have one major question, “what do you look for in a DCAA consultant?†This too may seem overwhelming, but […]
QuickBooks Now DCAA Compliant
It’s good to know that QuickBooks can now be compliant to the Defense Contract Auditing Agency. Within a phone call or two, you can have the QuickBooks system up and running. You will need to contact a third-party to align your QuickBooks to be DCAA Compliant, but it is well worth it – anything that eases the pressures of DCAA compliance helps. Once you determine your contract type, fixed-priced, “costs,†or initial contract, you will be able to let your QuickBooks consultant know what you […]
QuickBooks DCAA Compliance – Basic Overview
QuickBooks can easily become DCAA compliant. All you need is third-party to program the software to meet the standards set forth by the Defense Contract Auditing Agency. Having your QuickBooks DCAA compliant will prove helpful through the contract journey and the internal manual will help guide you through your endeavors as a government contractor. A third-party programmer can prepare your system to standardize and adequately document actions on daily, monthly, or annual bases. Regardless of the type of contract, your company must be able to […]