How Does The Process Work?
First, our experts set up clients with our secure cloud-hosted, DCAA compliant QuickBooks Enterprise system (or, we can help them to convert their existing QuickBooks file to be compliant with DCAA, FAR and /or other Contracting Agency [NSF, NIH, DoE] requirements). If you haven't yet already, we 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® can then either train your employees to perform basic bookkeeping functions (while our experts provide monthly closes, ICE submission support, audit support, and other additional services), or 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. The choice is up to you: whatever you feel comfortable with and makes the most sense given your budget and needs.
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 or NASA, face stricter requirements and often outsource their accounting to mitigate risk and cut costs),
- The 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.
As such, choosing the government contract accounting / DCAA accounting / DCAA bookkeeping services package that best fits your business is critical; and we are happy to help!
Remember: all monthly accounting costs are recoverable through your indirect rates, and our experts are here to help ensure your business stay compliant, profitable, and poised for success!