Further, contrary to what i hear, there is not any such thing as a dcaa approved accounting system software package. Using quickbooks for government contract accounting cheryl. The tools for growth icat for quickbooks gives small businesses an affordable, scalable solution to manage contract costs and satisfy far and dfars requirements. Aug 08, 2012 there are numerous addons for quickbooks, and an equal number of software solutions that claim to surpass it in ability.
Neither the dcaa nor any other federal agency endorses software products. If your organization determines quickbooks is the right choice, it is important to note that the package does not include a dcaacompliant chart of accounts, so you. Jamis dcaa compliant accounting software built for the unique needs and demands of government contractors. We use quickbooks with icat and other third party applications to create a compliant accounting system for our government contractor clients. Dcaa quick books and book keeping dcaa accounting compliance. Because quickbooks doesnt offer a builtin, compliant timetracking system, it is necessary to use an external system that integrates well with quickbooks and has all controls required for dcaa approval. Dcaa accounting system setup are you a contractor requiring a new accounting system that will require assessment for adequacy by the dcaa defense contract audit agency. May, 2014 quickbooks dcaa vs deltek i love beating up accounting errors. Mar 26, 2015 and lets face it just because you secured a new contract does not mean you want to invest in an entirely new accounting system. If youre using a popular accounting program like quickbooks you dont need to learn a new, expensive accounting software in order to maintain dcaa compliance. Dcaa compliant accounting essential business services. Reliascent has placed the quickbooks desktop software on the reliascent cloud and we can offer clients an online, cloud based version of the software. An inexpensive and flexible accounting system such as quickbooks can be easily configured to pass dcaa audits. Govcon connect dcaa compliant accounting software 2020.
Dcaa compliant quickbooksaccounting bay business group llc. Quickbooks is an accounting software solution for some. This is a very common engagement for our company and we have experience as both users, implementers and controllers. Having your quickbooks dcaa compliant will prove helpful through the contract journey and the internal manual will help guide you through your endeavors as a government contractor. Dcaa compliance means meeting the stringent regulations. This book in the 3 module series provides to the reader detailed screen shot driven instructions on how to make quickbooks accounting software dcaa compliant.
Reliascent can install an affordable, dcaa compliant quickbooksbased accounting system and ensure your small business remains in. Dcaaassist specializes in the setup and maintenance of dcaa compliant quickbooks accounting software implementation. In summary, there are potentially acceptable adequate accounting systems which wont break the bank, but keep in mind that there is nothing which is categorically a dcaa approved accounting software dcaa does not issue a seal of approval or otherwise endorse a particular product. Using quickbooks for government contract accounting. Quickbooks can be used for dcaa compliance at a fraction of the cost, as long as you work with an expert to manage the transition and oversee the bookkeeping and controller services. Whether you need quickbooks consulting, cloud bookkeeping solutions, or fullservice accounting oversight, well provide the level of support that works for you. Dcaa compliant quickbooks accounting systems and training.
Youll only need to have a thirdparty application to align your quickbooks with the dcaa regulations. Quickbooks spring ahead and unanet government accounting. Depending on your unique circumstances, we will assist you with source selection and the implementation of these software products. Dcaa far compliant software quickbooks dcaa audit support and consulting if you do business with the federal government, you must have an accounting system which is compliant with federal acquisition regulations far, cost accounting standards cas, and dcaa guidelines. Quickbooks is an easy to use and actually a pretty decent project accounting system for small businesses. Quickbooks dcaa vs deltek i love beating up accounting errors. The solution is a low cost way to pass dcaa audits and provide contract. Compare products like jamis prime erp, gcas government cost accounting system, efaact, and more. As a government contractor, you must not only have a dcaa compliant accounting policies and procedures manual, but you must also maintain a dcaa compliant accounting. Govcon connect is designed to give government contractors using quickbooks desktop or online an easytouse, low cost solution to pass dcaa audits. Rather than convert to a more expensive system, upgrade to dcaa compliant quickbooks. Dcaa timekeeping software offers simple quickbooks integration. Dcaa approved accounting system and software reliascent llc. Software systems arent actually approved by dcaa because such a process does not exist.
The system is specifically designed for dcaa compliant accounting and contract management. Reliascent has the addon features as well to make a dcaa compliant accounting system fully cloud based and using quickbooks. Some government contracts require whats known as dcaa compliance. Apr 19, 2016 an inexpensive and flexible accounting system such as quickbooks can be easily configured to pass dcaa audits. However, quickbooks will usually prove flexible enough to meet the task at hand, especially when integrated with strategic timekeeping software that will unlock the full potential of quickbooks as a dcaa compliant system. Dcaa does not approve products or continue reading dcaa compliance. Dcaa quickbooks many startup businesses and small businesses are in need of a dcaa compliant accounting system but cannot afford many of the options for software that is dcaa compliant out of the box.
Quickbooks are able to get you through your first few contracts with the help of a thirdparty developer to adjust the quickbooks into proper compliance. Dcaa compliance blog your source for dcaa news and information for contractors. Our firm is different because were owned and operated by a former dcaa auditor so we truly understand the challenges you face as a governmental contractor. Quickbooks for government contracting we have developed a dcaacompliant configuration of quickbooks that provides you with a costeffective yet robust solution for accounting for government contracts while meeting all of the requirements for costreimbursable contracts. Dcaa assist specializes in the setup and maintenance of dcaa compliant quickbooks accounting software implementation. Govcon connect is a dcaa compliant software for government contractors using quickbooks desktop or quickbooks online. One of the services we provide is a configuration service where we make changes to the set up and structure of your quickbooks file to make it dcaa compliant. The actual manner by which a government contractor earns dcaas trust and reliance is through intelligent implementation of several key accounting policies, procedures, and systems.
Not all accounting or bookkeeping software can meet the needs of dcaa. Icat automates indirect cost allocation, and adds incurred. While the dcaa doesnt require any particular software, it does have certain criteria that a timekeeping system must meet in order to be dcaa compliant. Icat software for quickbooks dcaa compliant accounting made. Quickbooks dcaa compliance basic overview dcaa news.
Icat automates indirect cost allocation, and adds incurred cost reporting, budgeting, and provisional indirect rate capabilities to your existing accounting system. The system does real project cost accounting and computes indirect rates and applies to pro. Dcaa compliance using icat with quickbooks icat systems. Dcaa approved accounting system at govirg, we implement and manage dcaa approved accounting systems that will provide information to management and operations, and meet the requirements. Thats great news for small businesses and even better, when properly implemented, quickbooks software is perfectly capable of passing a dcaa preaward audit i. We can help design a system to best fit your business needs and provide. If you would like to find out more about how to use tsheets to help you make your time tracking dcaa compliant, please contact support. Deltek to quickbooks conversions many government contractors have recently realized they do not have to use deltek and incur costly licensing, management and it support fees.
Call 57795828 or 7033306544 and request a free consultation. Dcaa compliance means meeting the stringent regulations and auditing requirements overseen by the defense contract audit agency dcaa. Dcaa accounting quick books dcaa audit and government. We also partner with dozens of cpa firms and consultants who can assist you with the entire life cycle of getting a dcaa approved accounting system. With it, you get an erp to manage and integrate all parts of a smart business. Dcaa software solutions govcon connect for quickbooks. Learn about the paycheck protection program application with quickbooks. All you need is thirdparty to program the software to meet the standards set forth by the defense contract auditing agency. Is qbo dcaa compliant, and if not, is there something that. Quickbooks by itself can never be compliant, regardless if you are using quickbooks pro, premier, enterprise, online, or mac. Dcaa quickbooks desktop or online solutions for government contractors.
Govcon connect adds the integrates with quickbooks online as a dcaa compliant accounting system, along with, contract management, and indirect rate. If so, we will establish a chart of accounts to segregate direct costs from indirect costs, set up a labor distribution system for you to track time and create accounts for. I am asked this question all the time and thought i would offer some insight. Hour timesheet isnt just a timekeeping software provider for government contracts looking to pass a dcaa audit. Give us a call today and we can introduce you to our long list of partners. The dcaa cares more about the compliance of the overall accounting system rather than whether you use procas or deltek or quickbooks. A dcaa compliant accounting system that uses quickbooks must rely on satellite systems to be fully compliant with federal government accounting. We can help design a system to best fit your business needs and provide the support needed on an ongoing basis. The good news is that you may be able to make some adjustments to your current quickbooks software to be dcaa and dcma compliant. Dcaa accounting compliance is a perfect platform to rely on, when you are up for some dcaa quick books and bookkeeping. Most small business contractors use quick books as their accounting system. We have developed a dcaacompliant configuration of quickbooks that.
The actual manner by which a government contractor earns dcaas trust and reliance is through intelligent. Both quickbooks desktop and quickbooks online can be set up properly to be dcaa far compliant. With it, you get an erp to manage and integrate all parts of a smart. As a government contractor, you must not only have a dcaa compliant accounting policies and procedures manual, but you must also maintain a dcaa compliant accounting system. Interested in quickbooks for government accounting.
Youre probably wondering if its possible to make your existing accounting system dcaa compliant and the answer is often yes. Compare products like jamis prime erp, gcas government cost accounting. Many government contractors have recently realized they do not have to use deltek and incur costly licensing, management and it support fees. Wrkplan is a modern, cloudbased erp system used by government contractors and other projectbased businesses. Dec 11, 2015 procas is the best small business accounting software for govt contractors to meet all of the dcaa requirements with the least manual manipulation of data. Quickbooks support dcaa compliant bookkeeping services va cpa. Deltek deltek costpoint software is the gold standard for accounting software for large corporations dealing with the federal government. To ensure all your time tracking, payroll, and accounting. The answer is no, quickbooks is not compliant by itself. Deltek to quickbooks conversions for government contractors.
Although quickbooks is designed for the average user to understand, the initial setup and installation must be done correctly in order for your records to. Whether you prefer to outsource all your dcaa accounting and bookkeeping to us or need support for quickbooks accounting software, we can provide the level of service that right for you. What is the best small business accounting software for. Dcaa compliant accounting system setup government contractors. Government contract accounting can be complex and often requires a unique expertise and many years of practical experience. We get asked all the time if it is possible to make quickbooks dcaa compliant. A critical part of dcaa compliance is ensuring that your team members track their hours correctly. Quickbooks support dcaa compliant bookkeeping services. Software for dcaa compliance wrkplan is an accounting and erp system that provides everything you need to be dcaa compliant. Quickbooks online can now be compliant with the defense contract audit agency dcaa. Dcaa timekeeping software offers simple quickbooks. This could be anything from standard manual accounting records to quickbooks to a number of different software packages.
We have experienced staff who utilize the quickbooks, spring ahead and unanet software. Find out how your business can benefit from our quickbooks accounting solutions and friendly support. You also need to get in touch with the dcaa agency first, to get the instructions on how to get compliant with them. Our quickbooks accounting software configuration ensures your reporting processes stand up to dcaa regulations. How to configure quickbooks to be dcaa compliant govcon. Dcaa accounting compliance is a perfect platform to rely on, when you are up for some dcaa quick books and bookkeeping services. To ensure all your time tracking, payroll, and accounting procedures are dcaa compliant, we always recommend working with a dcaa compliance consultant. Using icat with quickbooks, together with proper policies and procedures, and compliant timekeeping practices, hundreds of companies have passed their dcaa. This book in the 3 module series provides to the reader detailed screen shot driven instructions on how to make quickbooks accounting software dcaa.
Setting up a dcaa compliant accounting system reliascent. The system is specifically designed for dcaacompliant accounting and contract. Jamis software is designed to be dcaa compliant and can make a compliant system right out of the box. Govcon connect adds the integrates with quickbooks online as a dcaa compliant accounting system, along with, contract management, and indirect rate calculations. Dcaa far compliant softwarequickbooks dcaa audit support and consulting if you do business with the federal government, you must have an accounting system which is compliant with federal.
Icat for quickbooks gives small businesses an affordable, scalable solution to manage contract costs and satisfy far and dfars requirements. Dcaa compliant accounting software for government contractors. The solution is a low cost way to pass dcaa audits and provide contract management and indirect rate calculations. Dcaa software solutions simple, compliant, and integrated with quickbooks online or desktop, govcon connect gives you the tools and intelligence to manage your government contracts. If it is properly set up and the accounting practices. If it is properly set up and the accounting practices employed are sound and consistently followed, quickbooks can be dcaa compliant.