In government contracting, businesses and contractors face challenges to ensure their accounting software meets the necessary standards. Among those hurdles is making QuickBooks DCAA compliant, which poses a significant obstacle for many small businesses and government contractors. Fortunately, we’re here to guide you through the essentials of DCAA compliance and explain its importance in securing…
In government contracting, businesses must achieve DCAA approved compliance QuickBooks to meet regulations and maintain financial integrity. We’ll guide you through configuring QuickBooks to align with DCAA standards. By implementing customizable time-tracking features and leveraging job costing capabilities, you can exceed DCAA requirements. DCAA Compliance and Its Importance for QuickBooks Users Familiarizing yourself with the…
QuickBooks has been a go-to accounting software for small business owners for decades. However, Intuit, the company behind QuickBooks, is now making a push to move all its users off the legacy QuickBooks Desktop platform and onto the newer, cloud-based QuickBooks Online subscription model. The company has been aggressively promoting the benefits of QuickBooks Online…
Economic uncertainty is something that affects everyone, especially small business owners. Government contractors are no exception, and the current climate only heightens that uncertainty. However, there are ways to mitigate risk and take advantage of growth opportunities. A robust time and attendance software can help companies navigate these uncertain times by providing the necessary data…
The term ‘DCAA compliance’ when referring to your timekeeping procedures is often just thrown around. If you don’t understand what that means or how to verify that you are DCAA compliant, Hour Timesheet can help. Simply put, DCAA stands for Defense Contract Audit Agency. This is the federal government agency responsible for conducting DCAA audits…
Government contractors that are hoping to get awarded projects from the government have to comply with the regulations set in place by the DCAA. The Defense Contract Audit Agency outlines exactly how businesses should be tracking their time and documenting accounting when working on a government project. The DCAA will audit companies, and ensure they…
You Can’t Manage What You Can’t Measure A key aspect of complying with government regulations is creating processes and utilizing software tools that allow your organization to be compliant. Because we all know you can’t manage what you can’t measure, it is important to understand the basic categories of your organization’s indirect cost pools and…
Making Technology Work For You Today’s technology moves so fast that it’s not easy to keep up with. It seems like new tools are surfacing every day to help business owners and entrepreneurs save time, money and boost productivity. New technology empowers business owners to achieve what they set out to do and allows them…
FLSA Timekeeping Requirements Who does FLSA apply to? One of the FLSA Timekeeping Requirements is that hourly employees must be paid at least the minimum wage and not less than one and one-half times their regular rates of pay for overtime hours worked. What are the timekeeping recordkeeping requirements? Every covered employer must keep certain…
When a business undertakes a government contract, part of the agreement is for their timekeeping and accounting procedures to comply with the Defense Contract Audit Agency (DCAA). DCAA-compliant contracts require daily time tracking, precise records, detailed reporting, and specific manager approvals, all for DCAA audit purposes. Ensuring DCAA compliance can be a lengthy and confusing…