QuickBooks® DCAA Compliance Reviews
How To Make QuickBooks® DCAA Compliant
A DCAA compliant accounting system that uses QuickBooks® must rely on “satellite” systems to be fully compliant with Federal Government accounting regulations. Since QuickBooks® is the core of the system, it is important that it be set up properly to meet these regulations.
ReliAscent can evaluate a small business' QuickBooks® file for DCAA, FAR & GAAP compliance requirements to make sure it is set up properly. This service is provided free of charge, but only includes a review of the features contained within the QuickBooks® file itself (like segregation of direct and indirect expenses, labor distribution and other general ledger requirements).
It is important to understand that the term "DCAA approved accounting system," is a misnomer. There are no DCAA approved systems, only DCAA compliant systems. The DCAA does not officially approve of any particular software or system. As a result, reviewing your accounting system for compliance is critical for government contractors who contract with the DoD, NASA, DHS, and even the DoE (in many cases).
Compliance Reviews - What You Need To Get Started
The process to have this review done on your file is:
- Complete a Non-Disclosure agreement with ReliAscent (to get a head start, click here and download the NDA form to fill out and send to ReliAscent today)
- Review with ReliAscent your company's current status with respect to contracts, which agencies, contract/grant requirements, etc. (normally a brief phone call)
- Send ReliAscent a backup copy of the company's QuickBooks® file using a secure file transfer mechanism (ReliAscent can recommend a method if you don’t have one)
- ReliAscent will review the file and provide a simple report of the results
- ReliAscent will go over the report with you (a brief phone call)
- (Should you choose to proceed), ReliAscent will provide you with a proposal to install a DCAA compliant QuickBooks® accounting system or to convert your existing QuickBooks® system to be in compliance with DCAA and FAR requirements.
We have found that small business personnel may not fully understand the myriad and complexities of Federal Laws and Regulations, and may either overlook or misunderstand what the government needs. ReliAscent personnel have collective over 200 years of experience with Federal Government accounting requirements and understand what the government wants and will expect from your accounting system. Protect yourself and have ReliAscent review your file today.