Government Contract Accounting - Software
Many small businesses are overwhelmed when they begin their first government contract. The ability to pass a DCAA audit for an accounting system is daunting. Many government contractors mistakenly believe that if they purchase a dcaa accounting software package that is designed to meet DCAA requirements that they are safe. Nothing is further from the truth. It is a first step to get accounting software that is designed to meet FAR and DCAA requirements but the system set up around that software, the consistent operation of that system and the retention of supportable records is also required to pass a DCAA audit. The government wants to see a full system and the compliant operation of the system to assure that they are not overcharged for the goods and services that they purchase. In addition, since they are the single largest purchasing entity in the United States, they also want to see that they get the "best deal". These seemingly simple goals have resulted in some complex regulations for Contracting Officers and also for government contractors. Today I would like to take just a brief look at the software packages that would be available to a government contractor, especially the small business, to form the backbone of their compliant business system for doing business with the Federal Government.