The government frequently extends contracts to small- and medium-sized government businesses to cover its varied needs. Winning such a contract offers businesses a tremendous financial opportunity, but it comes with some essential responsibilities. The U.S. Department of Labor (DOL) and the Department of Defense (DoD) work with the Defense Contract Audit Agency (DCAA) to ensure…
What are Indirect Rates? Indirect rates are basically a way for companies to account for the costs that are not directly related to a specific project or product. These costs are often necessary for the company to function, but they can’t be directly linked to a specific product or service. An indirect rate is a…
The term ‘DCAA compliance’ when referring to your timekeeping procedures is often just thrown around. But what is DCAA compliance, and what does it mean for your business? If you don’t understand what that means, Keep reading this blog post for assistance for keys to understanding DCAA Compliant Timekeeping What Is the DCAA? What does…
When you are in the business of federal government contracts, DCAA compliance is non-negotiable. DCAA stands for the Defense Contract Audit Agency. QuickBooks provides an accounting package that is well suited for small to mid-sized businesses, but often, the question arises; Is QuickBooks a DCAA Approved Accounting System?. QuickBooks offers two options and several different…
Are you 8a certified small business and looking to stay compliant with DCAA standards? The Defense Contract Audit Agency (DCAA) is responsible for auditing and monitoring government contracts. As such, all businesses that contract with the U.S. Government must comply with the DCAA’s requirements. Here’s what you need to know about 8a firms and DCAA…
Small business contractors working for the Department of Defense (DoD) have a duty to achieve and maintain compliance with strict government regulations and requirements. Failing to meet DCAA compliance guidelines could endanger a contractor’s current engagement or bar them from applying for and obtaining future federal contract opportunities. Regulations and requirements specific to contractors are…
Because the federal government works on behalf of U.S. taxpayers, it is essential to closely monitor contractor spending for projects. That means that any contractors must understand and comply with certain DCAA audit requirements and regulations to account for spending. There are times when a contracted business might attract the attention of the Defense Contract Audit…
If you’re new to government contracting — or even if you’ve been in the industry for years — the acronyms DCMA and DCAA can feel confusing. Both agencies play major roles in federal contracting, both interact with contractors, and both influence compliance. But their missions, responsibilities, and the way they engage with your business are…
Time tracking remains the most effective way to measure your employees’ value to your business. It is also the most practical way to pay them for their commitment and service to your organization. That’s one reason why it is so important to find out how to keep track of employee hours. Additional benefits of learning how to…
6 Facts about Employee Time Tracking Despite the mixed feelings on time tracking, having the right time management software can be beneficial to both workers and business. Below are several time management statistics and six Facts about Employee Time Tracking to help shed some light on the process and its potential value for organizations of…
