Loading...

DCAA Compliant Timekeeping Software

DCAA Compliant Timekeeping Software

Having been in the industry for over 25 years, there are a number of key topics that continue to come up when talking with a government contractor about DCAA timekeeping requirements.  One common theme I hear time and time again is centered around managing correction previously entered time entries as well as enabling someone other than an employee to update an employee's timesheet. There are many sources on the web and in your google searches that are willing to charge you for FAR training, consulting fees or "compliant bookkeeping. Go ahead, do a little "google research" or just ask one of our many referral partners.

Advice from the experts

Everything needs to be tracked - Time spent on overhead tasks, bid and proposals, training, leave (paid or unpaid) and yes, even uncompensated time should be recorded on a timesheet. Bottom line, all hours worked by employees are required to be tracked by a companies timesheet software.

Timekeeping isn't just for hourly employees -Employees working on contract and in the corporate office need to track hours. This includes salaried and hourly employees. This includes both labor cost and indirect labor cost (overhead, G&A, B&P)

Corrections on timesheets are okay - Budgets change, mistakes are made, people forget.. that's why documented timekeeping procedures that include a correction process is imperative.

Audit logs are the key - With the internet, all things are possible. Anywhere. Anytime. A detailed audit trail real time edits to all timesheet entries. The time, the place as well as the details.

Do practice floor checks - let your employees know what to expect in the event that the defense contract audit agency does to a floor. Quarterly planned practice floor checks will put your employees at ease.

Just saying it doesn't make it true - Any software can claim that their software meets dcaa compliance and FAR regulations but we don't just say it. We guarantee it. Our experts of 20+ years will make sure!

Additional Resources

Measure Costs Right: Make the Right Decisions

How To Calculate And Track Overhead Costs

How do I Calculate Overhead Costs?

Federal Acquisition Regulation Full Download

Federal Timekeeping Policies for Government Contractors (chron.com)

Record-keeping Requirements under the Fair Labor Standards Act

DCAA Approved Timekeeping System

DCAA Approved Timekeeping System

Is Your Company Ready?

Most likely, your answer to this question is, “I don’t know”. It's often the case that a company thinks maybe they could be ready for a DCAA audit, but has little confidence that they would pass. On the other end of the spectrum, are you a company who thinks you're definitely ready for DCAA because you have an expensive or robust accounting and/or timekeeping system?

Unfortunately, if you never had DCAA in your office before, then you probably are not ready, regardless of your systems.

Contrary to what you may have heard, you cannot “buy” a DCAA-approved accounting system. No accounting or timekeeping system has ever, or will ever, receive DCAA’s stamp of approval. As a government agency, they will not endorse a product in that manner. In addition, DCAA never “approves” your systems anyway. Instead, they test your end to end system, policies and procedures and determine if it is “adequate”. In a nutshell, they want to make sure that you walk the talk and you do it according to regulation.

How can you prepare for an Audit?

Test yourself

Internal audits (or as we call them “mock audits”) are an ideal way for you to determine where your gaps are and correct those gaps. They are also great to get you ready for an audit as practice. Having an outside party review your accounting system, timekeeping system, chart of accounts, policies and procedures, then test you on those, is the only way to ensure you are ready. Without such a test, you are walking into the battlefield blind. -  Arrowhead Solutions, LLC,

What do they test (or look for)

  • Daily time entry for every employee
  • Are all employees capturing all hours worked (paid and unpaid)
  • A detailed audit log or audit trail of every entry made to the employees time card
  • A system that tracks time by project or job codes
  • The ability to capture both direct labor cost and indirect labor cost
  • Supervisor submissions and approvals
  • Documented timekeeping procedures
  • All time worked (on government contracts) and overhead

Read similar post about DCAA Compliant Timekeeping Practices

DCAA Compliant Timekeeping Key Requirements

Advice from the Experts

Tired of Deltek Timesheets?

For more information becoming a referral partner, visit our partner or visit us in the QuickBooks marketplace listing.

Referral Partner Listing

DCAA Assist

Arrowhead Solutions

Edward Moore

Gov-Con Solutions

ReliAscent

The A – Z Of Timekeeping

Employee timekeeping should be as simple as ABC

26 Reasons Why Your Company Needs Hour Timesheet

HTS ABC ListAudit trail – know where, when & who updated each timesheet entry. Accountability is important.

Back-end business logic – leave the thinking to us. Restrict overtime, late entries, absentees & more.

Compatible on any browser and operating system.

DCAA compliant time tracking software – 25+ years of experience. Take care of your business and leave compliance to us.

Eliminate manual data entry – enter all your data one time and in one place

Free trial – 30-day no obligation free trial included when you sign up.

Growing profits – with the price per user so low, you’ll be increasing your bottom line in no time.

Helpful user guides – includes a detailed step-by-step guide of everything you need to know

Integration with QuickBooks– simple one-click timesheet imports to top 3rd party payroll solutions

Job costing – stay informed. The who, what when and why of project management.

Knowledge base – easy to access on our website.

Leave management – let us track your employee leave balances. Delete that excel spreadsheet.

Manager approvals – sign one or sign them all. Supervisors will find this task easy as pie.

No credit card required – no obligations when you sign up for the free 1-month trial.

Overtime tracking – take control of your employees. No more surprises after payroll processing

Price - $3/user with a 10-user minimum. Affordable for small businesses

QuickBooks compatible – simple integration with online and desktop versions.

Real time data - access to real-time data 24/7 from in the office or remote job site.

Save time time it takes to run payroll

Track time - on the web, on a smart phone or even a time clock

Uncompensated pay – track all your employee time, know where those extra hours are going.

Vendor tracking – import your 1099 and contractor users from QuickBooks Desktop

Working window-based web clock

X-tra care –our support team loves to help and we look forward to exceeding your expectations.

You won’t regret it – sign up now and see what everyone else is talking about. It’s almost too easy!

Zero cost for 30-days – Once again…. why not give us a try? We guarantee you’ll love it. The best QuickBooks compatible timekeeping software on the market.

Additional Resources

What is direct labor?

What Is an Audit Trail and Why Is It Important in Accounting?

 

Timekeeping Is Crucial To Your Business. Learn Why!

Why is time so important to a business?

We pay our employees by time, we bill our clients by time. Our vacations are tracked by time. All successful businesses know how to manage time! It starts with web-based time tracking. With a good time and attendance tool, employers will have access to:

  • identify tardy employees
  • job costing
  • overtime management
  • automated payroll file creation

How much time does your staff spend on the following?

  1. Correcting math errors on timesheets
  2. Tracking down late timesheets
  3. Manually entering employee payroll data

With the correct time and attendance tool, these tasks are simple. Let technology work for you.

Work smarter…. not harder.

Hour Timesheet was created for you; with your origination in mind. We have created a simplified solution that captures your complex situations. Give us a try FREE for 30 days. No credit card required. Our experts with over 20 years of industry experience are waiting to hear from you now. Hour Timesheet includes a QuickBooks timesheet import sync that makes your payroll process a snap!

Let technology work for you.

Most small businesses use QuickBooks Online or QuickBooks Desktop to process payroll or create invoices. There are several fields in QuickBooks that you might want to have employees capture time or hours worked against.

  • Customer Job data is by far the most relevant piece of data you might need when billing your clients. Knowing how much your workforce spends on your clients helps you to understand your resources and plan your bottom line.
  • Service Items are also another data point that companies capture on the employee time data. QuickBooks will tie these items to a chart of account which become a building block for your business.
  • Payroll Items are another source of data that are important to understand when you require your employees to capture time entry either online or by phone or on the web. The pay type (also known as payroll item) is used when importing time to various leave types, overtime rules as well as hourly vs salary pay.

Now that your timesheets are complete, the ideal solution is to sync or export your employee time card data to QuickBooks.

 

View QuickBooks Online Apps here

View QuickBooks Desktop Apps here

View HTS Mobile Download here

Additional Resources

Job Costing: 5 Tips So You Don’t Lose Money
What is job order costing?