DCAA COMPLIANT OUTSOURCED ACCOUNTING SERVICES

SETTING UP THE DCAA COMPLIANT ACCOUNTING SYSTEM

Our experts start by setting up a compliant system in your choice of QuickBooks® Online or Enterprise (hosted on the cloud). This process generally takes 2-5 weeks, and costs can range from as little as $2,000 to as much as $5,000 or more, depending on the state of your books, current number of contracts/grants, when we are backdating the books to, and other factors.

ReliAscent does not charge one large, flat fee setup cost, and there are no mandatory end of year minimum fees to close your books and file an ICE,regardless of your size or needs (this is a common approach in the government contract accounting industry to make up for lower advertised "starting-at" prices).  

To learn more about installing and converting accounting systems, visit our DCAA Compliant Accounting Systems page.  We also highly recommend you take advantage of our Free QuickBooks® DCAA Compliance Review, if you are unsure if your current QuickBooks® (or other accounting system/software) is compliant.

ReliAscent^® then offers two options to companies depending on their size and whether or not they have an accountant or bookkeeper on staff (and if that person or department has any familiarity with government contract accounting). 

MONTH-END CLOSE & COMPLIANCE SUPPORT (DO YOUR OWN BOOKKEEPING)*

For larger companies that already have an accounting staff, our experts can train your current accountant(s) to perform the basic bookkeeping function (they can also continue to run payroll, handle invoicing for commercial sales and any government fixed price or time & material contracts, and handle some other functions).  This process can take 6 - 9 months in most cases, and involves reviewing the books, cleaning up any erroneous journal entries, and discussing errors & solutions. 

In turn, ReliAscent^® provides the following top level accounting services:

• Monthly close
• Month-end meeting and strategy session with Account Executive (CFO and Contract Management Support)
• Indirect Rates calculations and management
• Job cost reporting
• All required financial reporting for compliance
• Completes and submits the annual Incurred Cost Proposal (ICE Submission), as required
• Provides DCAA audit support (as-needed)

COMPLETE OUTSOURCED DCAA ACCOUNTING

For smaller businesses and companies that do not have an accounting team (or who simply wish to reduce their overhead and outsource their entire accounting department to ReliAscent^®), we can operate the system on a virtual, outsourced basis.  Outsourcing compliant accounting not only allows the business to focus on what it does best (and relieve the stress, cost, and extra effort of staying compliant with government regulations), but it actually saves small businesses (potentially) thousands of dollars each month. 

In addition to the accounting tasks listed above, this means ReliAscent's experts can take care of:

• Daily bookkeeping
• Invoicing the Government Agency or WAWF
• Accounts Payable
• Assist in collecting timecards
• Running Payroll (your choice of providers like Gusto, Paychex, or ADP, etc.)
• Proposal Support
  
  

To learn more about how much outsourced DCAA/FAR compliant accounting costs vs hiring an in-house accountant with a government contract accounting background, or attempting to maintain compliance on your own (while also trying to perform your direct contract work), read ReliAscent's popular blog: "After COVID, Can You Afford NOT to Outsource DCAA Compliant Accounting?"

WHAT LEVEL OF SUPPORT DOES MY BUSINESS NEED?

It's important to understand that the level and type of services your business requires varies depending on many factors. These include:

• Your Contracting Agency (for example, grantees working with the NSF or HHS may only need a simple Compliance Support level of services, while those contracting with the DoD, DoE, or DHS, face stricter requirements and often outsource their accounting to mitigate risk and cut costs),
• The number and type of contracts/grants you have,
• Your current accounting department/staff (if any), and their expertise in the complexities of US Government compliant accounting systems and requirements.   

Given these factors, choosing the ideal services package that best fits your business is critical; and we are happy to help you identify the gaps in your compliance (both in your accounting system and the day-to-day accounting), help your business get on track, and focus on what you do best.

WHAT DOES OUTSOURCED DCAA COMPLIANT ACCOUNTING REALLY COST (NOT "STARTING AT" PRICES)?

The price a small business pays will vary based on the scope of work and the number of contracts & grants.  In general, most start-ups with only a single Ph II SBIR/STTR grant (or comparable grant/contract), may only pay as little as $1,500 - $1,700/month. Those that have a Ph II contract (or comparable cost type contract) from DoD however, will typically spend $2,000/month. However, most companies don't have just a single contract or grant.  So, what does it typically cost if your small business has several contracts and/or grants at any given time?  While most clients will pay between $2,000 - $3,500/month for complete outsourced accounting (depending on the scope of work, number of contracts, employees, etc.), businesses with a larger number of contracts and annual revenue (say, $8-10M or more in revenue and much more extensive accounting needs), will typically spend at least $5,000/month for accounting (and those that choose to use the Account Executive extensively for proposal support, and fractional CFO and/or Contract Management services, may pay as much as $7,500 - $10,000/month). It depends on your needs and how much additional support you prefer (beyond the standard accounting and AE guidance). Contact ReliAscent^® for more accurate pricing and a formal proposal based on your company's needs.