Compliance, compliance, compliance! As a software professional with over 15 years in the government contracting market, I find the that the fear of failing a DCAA audit is the biggest driver for government contractors to search for a new financial accounting package. Whether you are a start-up, have won your first cost-plus contract, or are facing the growing pains of international compliance, EVM or ACRN billing, compliance drives your decision.
Does your system meet the following test?
- FAS 31.2, CAS and FAR - Does your system address constantly changing federal regulations for Billing, Revenue Recognition, and Audit Ability?
- Time and Expense Collection - Does your system require daily entry, allow for time entry at the phase/task level, and handle JTR requirements?
- Work Breakdown Structure - Does your system easily automate your WBS as required by each contract?
- Government Billing - Are your bills automated?
- Automated Retroactive Rate Adjustments - When your final rates are approved can you automate any adjustments?
- Indirect Cost Allocations - Does your system calculate and accurately allocate your indirect rates to projects?
- Management Reporting - Are your executives and PM’s getting the reports they need in a timely manner?
If you answered no to any of these questions, you could be putting your company at risk of non-compliance, experiencing inefficiencies, or leaving money on the table.
As both a
For more information, please contact me at 703-336-6479 or [email protected]
By: Patty Kennington, McGladrey -