When a Small Business contracts with the Department of Defense, NASA, or the Department of Homeland Security (and potentially other agencies), they are often required to have a DCAA compliant accounting system. While there are many components of a compliant system (just as there many types of DCAA audits), the underlying procedure for assessing a contractor’s system is guided by the Standard Form (SF) 1408 (also known as the “Preaward Survey of Prospective Contractor Accounting System”), seen here below:Read More
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.
We hope you will visit and take part in the discussions on our blog on a regular basis. If you ever have any questions or would like to discuss how our experts can help, do not hesitate to contact us at any time!
Posted by Tyler Link on Wed, Mar 20, 2019 @ 10:59 AM
Posted by Tyler Link on Mon, Feb 29, 2016 @ 11:00 AM
ReliAscent is happy to announce that we are rolling out our first, in a series of educational “mini-webinars,” for Government Contractors and Grantees, this Wednesday!Read More
I often hear people say they want to buy accounting software that is “DCAA Approved”. Or sometimes they say that they need an accounting system that is “DCAA Approved”. This is a bit of a misnomer. First of all, the DCAA does not “approve” software packages nor do they “approve” accounting systems. A software package may be designed to meet FAR and DCAA requirements, or as it sometimes is referred to, to be “compliant” with DCAA requirements. As we have discussed in previous blogs, there are accounting software packages out there that are designed to be compliant with DCAA requirements. There are also accounting software systems that are not designed to be compliant with DCAA requirements but they can usually be incorporated into a compliant system by adding on some external features to cover all of the compliance issues. These “external systems” usually include things like timekeeping systems, expense reporting systems, indirect rate calculation systems and complete subsidiary job cost reporting systems among others. Finally, whether the software is designed to meet DCAA requirements or not, the company employing the system must have a set of policies and procedures to support operation of the system in a uniform manner.
At ReliAscent we realize that a large number of small government contractors use QuickBooks® as their accounting system. Since QuickBooks® is not designed to meet FAR & DCAA requirements, there must be some add-ons as well as a strong system of policies & procedures in order to have a compliant system.
Posted by Mike Anderson on Fri, Jun 20, 2014 @ 10:18 AM
A small business that is a government contractor doesn't have a lot of choices for DCAA compliant accounting software. Most small businesses start by using QuickBooks®. While QuickBooks® is a very good accounting system for a small business, it is not designed to meet DCAA requirements. There are ways to make a QuickBooks® based system into a DCAA compliant accounting system (ReliAscent has been doing this for years), it involves integration of several different pieces. The operation of this type of system can become cumbersome as the company grows in either employees or number of government jobs or both. In the past, many growing small businesses looked to software such as the Deltek GCS Premier® product to accommodate the growth. The Deltek product has been recognized as the "industry standard" for many years. While this is a solution, some of the complaints from small business has focused around the age of the software, the cost of the software and the inflexibility and difficulty of use of the software.