Neither the DCAA nor any other federal agency endorses software products. However, smaller companies can pass that nail-biting DCAA Accounting System Review. QuickBooks are able to get you through your first few contracts with the help of a third-party developer to adjust the QuickBooks into proper compliance. The process is not difficult. You need to contact those who can set the system up in such a way as to ensure that the system tracks direct and indirect costs by job, that it properly allocates labor […]
QuickBooks for DCAA Accounting – A Viable Option?
Although the Defense Contract Auditing Agency (DCAA) does not profess, endorse, or back any software products, there are products available to make sure that your dealings with the DCAA are pleasant ones. QuickBooks is a great option for DCAA accounting. For start-up companies the purchasing of software can get pricey, but when dealing with government contracts, the monies can be recouped. Now, do not worry, the costs are not completely unaffordable economically, but being without a DCAA compliant software program can get real expensive and […]
DCAA Accounting System Review
If you are planning to become a government contractor, you should also plan for a DCAA Accounting System Review. The Accounting System Review is done for several reasons, one of them being to ensure that your accounting system is standardized and adequate to properly document all actions during the life of your contract. Your system, depending on type of contract, must be able to do address the needs according to the contract type. The types and review goals of contracts are ensuring that systems for […]
DCAA Accounting Rules – What You Need To Know
The DCAA accounting rules are many and you need to be prepared for a DCAA audit. The easiest way to ensure that you meet and exceed these rules is to have an accounting system that addresses many issues. The rules may seem tedious, and they are, but remember, the goal is to prevent the American public from being taken advantage of by contractor that could commit fraud and waste. What is important to know is that these rules were developed to create consistency within and […]
DCAA Cost Accounting Standards
The Defense Contracting Auditing Agency has accounting standards that can difficult to meet; however, it can be done. These tough standards came from years of fraud, waste, and nepotism that caused the government to become concerned with consistency with pricing and accounting practices. These actions are to prevent contractors from taking advantage of the American public. After realizing there should be concrete ways to deal with the economic relationship between the government, the public, and contractors, the DCAA cost accounting standards were put into place. […]
DCAA Compliant Accounting Software
Keep your life easy when becoming a government contractor by using DCAA compliant accounting software. Nothing is quite like being audited by the DCAA; the demand makes the IRS seem friendly. Thus, be prepared to not only exceed the DCAA audit but to shine like a pro with software that is DCAA compliant. DCAA compliant software can verify your accounting methods and properly segregate direct and indirect charges of the winning contract bid. Additionally, these software programs allow the contractor to accumulate the costs of […]
DCAA Accounting Software – What’s Available?
Wow, the amount of software available for DCAA accounting is plentiful. There are those that offer manuals to help guide you through the DCAA accounting system that can be a great help if you are new to the government contract game. Some DCAA accounting software offer human resource documentation with procedures for timekeeping, timecards, and billing systems. Still, others offer ways to keep track of billing direct and indirect costs, allowable and non-allowable costs and properly prepared reports for viewing and analyzing how your company […]
DCAA Accounting System – What To Look For
When you are deciding to purchase a DCAA accounting system, make sure you know what your company needs, what DCAA accounting expects from your company, and how you intend to use the software. When it comes to what your company needs question if you need human resource documentation that will track timesheets, timecards, and payroll. Does the software program track labor distribution? This is important since the DCAA will want to examine items like labor subsidiaries and reconcilable records to ensure compliance. Does the software […]
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 government and face the DCAA accounting system. Researching what is involved with DCAA accounting is a long and tedious endeavor; there is an immense amount of requirements to be met. […]
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. It is imperative to ensure that you are able to meet and exceed DCAA timesheet requirements. In order to be compliant with DCAA your company must have a system in […]