DCAA Compliance Blog

Your Source for DCAA News and Information for Contractors

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!  


 

Time Tracking for DCAA Compliance: Work Smarter, Not Harder, With Automated Time Tracking (TSheets Guest Blog)

Posted by Angie O'Hara on Tue, Feb 21, 2017 @ 09:30 AM Find me on: LinkedIn

ReliAscent is proud to feature another special guest blog from one of our valued Federal Contracting Industry partners, TSheets

"The DCAA expects everyone within your company to follow its strict guidelines when it comes to time tracking — and, in most cases, that means a lot of extra training, staff meetings, and manuals. It means daily time tracking for every employee within your company, precise and accessible records with complete audit trails, and extensive reporting.

Doing all that manually via spreadsheet or paper timesheet can be a huge (and, quite honestly, unnecessary) undertaking. But it doesn't have to be so complex.

Make the switch to an automated time tracking system (like TSheets) to make compliance with DCAA timekeeping requirements a whole lot easier. Here's how:

  1. Accurate and Automated Time Tracking

The DCAA requires employees to keep an accurate record of hours worked each and every day. In an effort to make this task a little easier (and a lot more accurate), many companies are switching from archaic, unsecure paper timesheets to a digital alternative. Automated time tracking is exact, easy to update, and always legible.

  1. Easily Submit and Approve Time

Employees are responsible for tracking accurate hours, but managers play an important role in DCAA compliance too. Managers must approve employee timesheets at the end of every work period. Automated time tracking allows employees to quickly and easily submit time for approval, while detailed reports confirm which timesheets have (or haven't) been approved.

  1. Protection Against DCAA Audits

When it comes to DCAA compliance, a foolproof audit log can be the most complex requirement. You'll need to know how many hours your employees worked on each project and who approved their timesheets. But you’ll also need to be aware of any changes made to a timesheet and why. If you happen to be audited by the DCAA, they'll want to know the full context of all timesheet changes. Consider an automated time tracking system that safely and securely stores your audit log online, so you can access that information quickly — when you need it most.

  1. Overtime Alerts

DCAA regulations require that you calculate labor costs based on the total number of hours your employees work — even if they're salaried. That means you need to keep a close eye on overtime. An automated time tracking system can alert you and your employees when your daily or weekly limits are approaching, allowing you to curb overtime and keep labor costs low.

Are you ready for a DCAA audit? If you're still tracking time with pen and paper, you're not. Make the switch to an automated time tracking system like TSheets and protect yourself against government audits."

-Contributed by Angie O'Hara, TSheets

*To learn more about their DCAA compliant timkeeping software, or if you have any questions about DCAA compliant timekeeping, please feel free to contact TSheets, or ReliAscent, at any time!

Topics: dcaa compliant timekeeping, DCAA timesheet, DCAA timekeeping, dcaa timekeeping requirements, TSheets