DCAA ACCOUNTING SYSTEM REQUIREMENTS
Government Contract Accounting System Requirements
Government contractors as a condition of contracting must under certain types of contracts secure an approved cost accounting system. This condition is limited to cost reimbursable contracts (such as CPFF). Also, at times the requirements are also imposed in a less formal manner to Time and Materials contracts. By the implementation of DFARS 252.242-7006 the Department of Defense is applying this requirement to certain fixed priced contracts based on cost as well. Bottom-line is it is in the best interest of a government contractor to implement an accounting system that meets these accounting system requirements. As a small business you are likely to need to meet this requirement at some point. read more
DCAA QUICK BOOKS SERVICE
The first step to DCAA compliance is to first implement an accounting system that meets these requirements (see DCAA Accounting System Requirements). 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 DCAA Bookkeeping expertise to assure its compliance is maintained eliminating problems with DCAA.
I have worked with all different kinds of contractors, government agencies and government contracts. Government contracts have included fixed priced, cost reimbursable, CPFF, cost sharing, SBIR (Phase 1 and 2), STTR, time and materials and all variations of these contracts including grants and cooperative agreements. Many of my clients use Dcaa Quick Books and making this system compliant is a certainty. I have made any Quick Books systems DCAA compliant.
Once you have established a compliant accounting system the next step is to determine how the company will maintain its compliance in accounting for costs on a monthly basis.
1. Dcaa Consulting Services Option
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 or CPA. I train them on all the facets of DCAA and government contract accounting. This training includes, cost coding, an understanding of the cost pools and allocation basis, unallowable costs, timekeeping, labor accounting indirect cost rates, invoicing and cost reporting for government contracts. 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 to keep them on track.
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2. Full Service DCAA Compliance Option
Under this option, clients leave DCAA accounting compliance to us allowing them to focus on what they do best. 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.
Note: Under either option, we position the client for success. we make ourselves available as needed to answer your most detailed questions and support your government contract needs as may be required.
In addition, we are available during your DCAA audits to help prepare you for the audit. I am with you every step of the way to maximize your audit position as well as cost recovery.
To take full advantage of my expertise and experience please contract me. We can review these options as well as pricing.
About Us
Edward D Moore Principal of DCAA Accounting Compliance is a leading government contract consultant on DCAA and government contract accounting matters. He has 33 years experience in the field of DCAA compliance and DCAA accounting subjects. His background includes a former top shelf DCAA auditor and held numerous positions with government contracting firms as a consultant and Controller.
The government contract accounting practice is dedicated to all aspects of government contract and DCAA accounting. It includes practically every industry including engineering, R&D, technical services, construction, staffing, manufacturing, healthcare and other service industries that the government commonly contracts with, This experience includes practically every Federal agency including grants and State government contracts as well. It includes all contract types as well such as cost reimbursable, time and materials and fixed priced contracts.
The DCAA and government contract consulting practice is dedicated to a wide array consulting services all involving DCAA and government contracting challenges that government contractors face every day. These services also include Grants, SBIR R&D contracts and State government contracts as well.
DCAA Accounting Compliance provides services to both large and small business. It has performed projects for over 350 clients ranging from monthly accounting services, accounting systems assessments and development, indirect cost rates. DCAA audits, incurred cost submissions, the Cost Accounting Standards, cost proposals, etc.
The accounting and compliance services are provided mostly in the United States but have extended internationally as well such as Afghanistan and Japan. We perform projects both remotely and at the client site as a matter of client preference or dictated by the nature and scope of the DCAA consulting project. Projects have been performed mostly in the United States.
A brief listing of services commonly provided include but not limited to the following:
· DCAA accounting system compliance, set up and oversight
· Providing monthly accounting service for DCAA compliance
· DCAA accounting system assessments
· Government contract accounting system evaluation and implementation
· DCAA audit advisory services
· Indirect cost rates and Incurred Cost Submissions including the ICE model
· Cost Proposal development services
· Procurement and Estimating System assessments/development
· Development of Equitable Adjustments and Claims including Termination For Convenience Settlement Proposals.
· GSA Schedule Proposals
· Expert Testimony Services on DCAA and government contract matters
· Ad hoc advisory services on an as needed basis covering DCAA matters as well as government contracting in general.
Client satisfaction is priority no. 1 as our repeat client business and referrals have been significant . Many of our clients retained us on an ongoing basis for many years.
If you have a government contracting challenge or problem we likely have a best business practices solution.
For additional information please contact me for a no cost initial consultation.
A sampling of what Clients have to say
Your DCAA accounting service has been very good – it has taken the worry out of DCAA compliance for a small business. In addition we have learned so much from you doing our accounting and getting us through these audits and audit requirements. —
Jie Yao, Ph.D., P.I., scientist“
On behalf of GW, I want to tell you how much we appreciate your support this year.
Engaging you for support was one of the best decisions we made during my tenure with the company. Not only was your counsel an important asset, but your willingness to share your knowledge has and continues to benefit our company by developing C. and P. as Government contracting finance executives.
A.G., Charleston, SC.
We could not have passed this audit without your help….
M.M, Richmond, Va.
I’m currently finishing up a $5.2M contract for submission to XXX. we wouldn’t be here without you. thanks again!
R.D., S.F, Ca.
CONTACT US
Edward D. Moore Principal 235 Thacker Road Rural Hall, NC 27045
336-880-9040