DCAA Compliance Blog

In the depths of a pandemic and resulting massive economic upheaval across our country and the globe, government contractors and grantees are focused more than ever on simply staying afloat; keeping the lights on and the doors open. Similarly, the accounting departments or outside firms that they rely on are solely focused on the day-to-day bookkeeping and monthly accounting—the bare minimum required to ensure compliance.

Between direct contract work, deadlines, compliance issues, and trying to stay afloat during a pandemic, contractors and grantees have enough on their plates just trying to keep the lights on. And sure, outsourcing certain functions can be an efficient way to save money and time (accounting is a prime example of this).  But, who you ultimately select to be a part of your team is more important than you realize.

We are only four weeks into 2020...hard to believe, with all that is going on in Washington.  But, a piece of news you may have missed in the chaos of the last few months will have consequences for many defense contractors this year, and (likely) many years to come:

The DCAA will be tripling the number of Defective Pricing Audits in FY 2020, now that their extensive backlog of Incurred Cost Audits has finally been eliminated.

Given this new focus, now is an excellent time to revisit cost and pricing data, TINA, FAR Part 15, and what they all mean for government contractors.  The following blog is taken from a popular white paper, written by ReliAscent Account Executive, Dave Donley.  It provides valuable insights into these topics and is a terrific resource for new government contractors.

As always, we encourage all Federal Government Contractors and Grantees to subscribe to the ReliAscent Blog and White Paper Distribution List to stay informed and contact us if you ever have any questions about DCAA compliant accounting, contract management, or business and financial management services.

As a Federal Government Contractor or Grantee, do you find yourself struggling with FAR & DCAA compliance requirements?  Do you often worry if you will make a profit on your contract or grant, or if you will even stay profitable from year to year?  Perhaps even more frustrating, do you already have an accounting department or firm that should be handling this for you?  

Have you ever considered how outsourcing some portion of—or your entire accounting department—out to an expert like ReliAscent could save your business money?  It also mitigates risk and increases your expertise within the company relative to the myriad of regulations, at no real additional cost!

Outsourcing a critical function like DCAA & FAR compliant accounting services (or government contract and grant management) can save many small and medium-sized businesses thousands of dollars each month.  With a team of outsourced experts, you get the top talent in the industry, yet only pay for what you need, when you need it!

If you would like to discuss how outsourcing these critical functions could benefit your business, contact ReliAscent today. 

"Is my accounting system DCAA Compliant?"  Usually, small businesses don’t ask themselves this question without an external prompt.   That prompt usually comes from either the government itself or a potential new customer or job.