DCAA ACCOUNTING COMPLIANCE SERVICES
An important milestone as a government contractor is achieving DCAA compliance and if necessary passing the DCAA Accounting System Audit.
As a former top shelf DCAA auditor with 30 years’ experience at DCAA compliance, I have helped hundreds of contractors become DCAA compliant. Clients have taken advantage of this expertise to assure its compliance is maintained eliminating problems with DCAA.
Once you have established a compliant accounting system (See Accounting System Requirements), the next step is to determine how the company will maintain its compliance in accounting for costs on a monthly basis. It is critical that contractors complete their accounting in a manner that is compliant with government contract accounting requirements (FAR 31.2), DCAA requirements and preferences. These options are described below.
DO IT YOURSELF OPTION With TRAINING AND REVIEW
Under this option, my clients perform the accounting themselves or hire a bookkeeper. I provide Government contract accounting and DCAA training to their accountant, bookkeeper. I train them on all the facets of DCAA and government contract accounting. Following my guidance and training will promote a compliant accounting process and ultimately passing DCAA audits as well as maximizing cost recovery. This approach includes at the client’s request a monthly or periodic review of accounting transactions for compliance.
That said, hiring a third party has advantages if the company is expanding. Unlike when the company is in its initial stages, logistics and accounting can get complicated with company growth. Look into the benefits of an ecommerce accountant services, which could take care of the financial aspects of the business.
FULL DCAA ACCOUNTING SERVICE OPTION
Under this option the client prefers to fully take advantage of my expertise and experience by retaining me to provide full accounting services. Under this option, I conduct all the accounting services for the client including DCAA compliance requirements. For many clients this is the best option for DCAA compliance taking the stress and unknown out of the equation. You are assured your accounting is DCAA compliant for each transaction and will pass DCAA audits. It pays to have a DCAA accounting expert by your side every step of the way. In addition to all the typical normal accounting tasks, I also provide DCAA compliance accounting services including:
- Separate accounting of direct and indirect costs
- Job cost accounting by contract by CLIN as may be required
- Compliant Timekeeping Records
- DCAA Labor Distribution
- Identification of unallowable costs
- Accumulation of indirect costs into homogenous indirect cost pools
- DCAA compliant indirect cost rates and indirect cost allocations to projects
- DCAA cost reporting including contract status reports, calculations against project budgets and contract funding.
To take full advantage of my expertise and experience please contract me and we can review these options as well as pricing.