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What is needed to be DCAA Accounting System Compliant

Working with a government organization and a private firm comes with many differences. Just as there is a difference in the way of working in both the types of organization, similarly you can observe difference in various parts of the organizational culture

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What is needed to be DCAA Accounting System Compliant

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  1. What is needed to be DCAA Accounting System Compliant Working with a government organization and a private firm comes with many differences. Just as there is a difference in the way of working in both the types of organization, similarly you can observe difference in various parts of the organizational culture. Accounting systems are much more rigorous in the government organizations. This is exactly why the government contractor must comply by the DCAA accounting system. Let's know the parameters which can help you be compliant with this system. Proper cost segregation One of the elemental aspects that make a huge difference in this context is the way you segregate and maintain the cost heads of your company. The different cost heads like billing cost, employee cost, direct and indirect cost must be maintained in a scrupulous manner. This will help you in times of audit and tracking. Proper documentation It is really important that a strong management of documents and records is done in the company. These re cords can be maintained in hardcopy or in soft copy. However the latter option always happens to be much better whether in terms of maintenance, storing or accessing data as and when needed. Software savvy

  2. There is a DCAA Compliant Accounting Software involved in maintaining the accounts in compliance with this guideline. The management of the company must invest in the aspect that their manpower becomes savvy with this software in the coming times. This will help them to implement and follow the system better with time. Proper timekeeping There must be a strong and an unfailing timekeeping system. This can be maintained either digitally or manually. However softcopy maintenance happe ns to be easier and much more accurate. Aspects like the number of hours the employees have worked the coming in and going out time of the employees, the time needed to do corrections, the actual productive time, etc. Training is imperative In order to be compliant with the system and to follow the mechanism perfectly it is important that you train your employees properly in this context. Adequate training is imperative to make the employees comfortable in the process. Contact Us Address: 68 T.W. Alexander Drive, Suite 207 North Carolina Research Triangle Park 27709 USA Phone: 919-314-2897 Email: info@muranocorp.com

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