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DCAA Compliance Blog
Your Source for DCAA & FAR Compliance News and Discussion
ReliAscent® LLC is the only government contract accounting firm that specializes in all aspects of government contracting compliance. From our DCAA compliant accounting services, to monthly government contract accounting for all government agency awards, contract management & administration, and financial services & planning, our goal is to ensure the success of our clients, and all small business government contractors and grantees.
In our DCAA Blog, we discuss the latest government contracting news from the Federal Government, the DCAA, and DCMA, as well as promotions offered by ReliAscent, and helpful tools and resources for contractors.
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The Federal Government has specific instances when they can withhold payment of money owed to Government Contractors. Many companies that are in the business of government contracting do not fully realize what this means and they can be surprised when they do not receive the full amount they are due at the time they think they are due the funds. After all, the Federal Government is the world's largest purchaser of goods and services and have an excellent credit rating. There are costs associated with dealing with this customer, however.
Earlier this year I was asked to participate in a webinar to cover the difference between the DCAA and the DCMA as well as describe what each agency did. The audience was a group of companies that were Small Business Innovation Research (SBIR) award winners. I think this may get confused for a number of people that do business with the Federal Government and so worth a little time today to discuss. Both of these agencies originate from the Department of Defense and are primarily concerned with helping the Department of Defense handle their contracting business. So what are the differences?