DCAA Compliance & Government Contract Accounting
ReliAscent's Defense Contract Audit Agency (DCAA) Compliance Consultants and Government Contract Accounting experts help Small Business Contractors set up and maintain Government & DCAA compliant accounting systems (meeting Federal Acquisition Regulations, Defense Federal Acquisition Regulation supplements, Code of Federal Regulations, DCAA and other applicable regulations). Our expert accountants can operate that system, on a virtual basis, and perform as the company's complete outsourced back office.
While many of our clients contract with the DoD, NASA and DHS (thus requiring a DCAA compliant accounting system), we also provide compliant accounting services for government contractors and grantees working with the DoE, NSF and other agencies, as each has its own set of requirements.
DCAA Compliant Accounting
To have a fully DCAA compliant accounting system, a system must have several components: a compliant general ledger system, a timekeeping system that meets DCAA timekeeping requirements, a way to calculate indirect billing rates and a method of generating subsidiary job cost reports, etc. This system must be well defined with supporting policies and procedures.
While there are many options in software to achieve these compliance requirements (and ReliAscent can help you select the most economical and best fit for your business), most small business contractors rely on QuickBooks™, as it is affordable and easy to use. While QuickBooks™ is not DCAA compliant out-of-the-box, there are a number of satellite systems and other steps which can make a QuickBooks™-based system DCAA compliant. ReliAscent can either install a compliant accounting system/software for your business, or we can make your current QuickBooks™ compliant.
After the system is installed/brought into compliance, you have a number of options when it comes to how to operate and maintain your compliant system. While most contractors prefer to simply outsource their accounting to our team of experts (an option which saves most businesses thousands of dollars per month), there are many options available to contractors and ReliAscent will tailor our services to best fit the needs and budget of every client.
FAR Compliance & Government Contract Management
Proper Government Contract Management is often difficult for small business government contractors- especially those new to contracting. Federal Contracts and Grants can be very complex and difficult to understand for the uninitiated. ReliAscent has hundreds of years experience in Federal Government Awards management & administration and can help companies navigate this difficult myriad of regulations. FAR compliance is something that ReliAscent specializes in. Navigating through the maze of government regulations (FAR, Agency Specific FAR, CFR, OMB regulations, DCAA requirements, etc) is something we enjoy and understand. Simplify your life and outsource this task to ReliAscent and allow yourself the luxury of concentrating on your expertise to grow your business.
ReliAscent also can provide outsourced Executive Management services to a small business. This "unrelated" second opinion can be a valuable tool for a small business in their growth. In addition, since ReliAscent has a collection of former CFO, Program Manager, Contract Administration / Government Contract Management and other related executives from the industry, you not only rely on one individual but benefit from a collective opinion on critical issues. Normally a small business would not have access to such powerful help.
Many small businesses cannot afford the services of a knowledgeable CFO and yet this critical job function is needed more than ever at a small and growing business. A CFO experienced with government contracting can skillfully manage indirect rates to maximize growth opportunities for the company. Managing indirect costs in a small business is not always easy and straight-forward and yet this impacts not only current year profitability but it affects how the company can deal with compliance, manage billing (cash flow) and future opportunities. Outsourcing an experienced ReliAscent CFO to work for your company can bring these benefits to realization.