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How Can Small Government Contractors Find The Best DCAA Accounting Solution

Some people tend to misunderstand the term DCAA Accounting, especially when applied to software solutions designed for accounting purposes. In reality, the presence of this term alone canu2019t guarantee the best accounting solution for small government contractors. It wonu2019t even ensure that your existing system will comply with the regulations of the DCAA. To ensure compliance, every accounting system has to meet specific requirements.

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How Can Small Government Contractors Find The Best DCAA Accounting Solution

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  1. How Can Small Government Contractors Find The Best DCAA Accounting Solution Some people tend to misunderstand the term DCAA Accounting, especially when applied to software solutions designed for accounting purposes. In reality, the presence of this term alone can’t guarantee the best accounting solution for small government contractors. It won’t even ensure that your existing system will comply with the regulations of the DCAA. To ensure compliance, every accounting system has to meet specific requirements. Before delving deeper into the subject, you have to know that there’s no software package or system available that the DCAA approves of. It’s just a marketing strategy used by business companies to make sales. For a software program to comply with the DCAA, it has to meet the requirements of the DCAA, along with FAR and GAAP. Most of the solutions available in the market can’t comply with the DCAA without the use of add-on programs, systems, or features. The Pre-Award Survey is an auditing process that will assess your accounting system to ensure it can maintain records while adhering to the standards enforced by the DCAA. The DCAA Standard Form (SF) 1408 Pre-Award Survey is a mandatory step you need to take when submitting government bids as a potential contractor. The DCAA doesn’t even need an accounting system to be entirely intact during the initial assessment as the expenses incurred by new contractors will exceed beyond their financial capability.

  2. The perks of using software Whether it’s about Unallowable Cost Accounting or timekeeping, you can use software solutions to take care of almost every aspect of government contracting. For that to work, the SF 1408 Pre-Award Survey will analyze the abilities of the program. The process is simple and transparent, and so small businesses can prepare appropriately for this crucial step to becoming a contractor of the government. With the right software package, you can handle timekeeping, labor distribution, CAS compliance, and distinguish between allowable and unallowable costs. The creators and sellers of expensive accounting solutions often promote their products by saying that they possess the features expected by the DCAA. By now, it should be clear to you that there’s no such software solution. You will need something more to meet the needs of the DCAA.

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