When you are a government contractor, being
DCAA compliant is not paperwork, it is your GO ahead to be able to win and
retain federal contracts. Are you getting ready to complete your initial
pre-award audit or are you reporting your costs annually? In any case, it is
necessary to learn the main requirements that can help you to remain
audit-ready.
The SF 1408 Pre-Award Survey is one of the
initial obstacles. This form analyzes the capability of your accounting system
to support government contracts. Failure to have a system that satisfies the
requirements of DCAA such as timekeeping, cost segregation, and indirect rate
tracking could make you lose the award. This is the reason why most contractors
seek the services of professionals to help them tie all the ends before
submission.
When you start working under a
cost-reimbursable contract, Incurred Cost Submissions (ICS) are here to be dealt with. These are the
annual reports which specify your actual costs and they should be in accordance
with the FAR and CAS. Failing to meet deadlines, providing wrong format or
under documenting costs may result in expenses being disallowed or in the worst
case, contract penalty.
Government compliance is not the thing to
realize in the air. It is a system which must be constructed, supervised and
taken care of.
That is where Dcaa Compliance comes in. We are
the experts in assisting contractors in getting ready to have SF 1408 compliant systems,
maneuvering within the incurred costs submission, and passing all compliance
milestones without fears. Whether you are a startup or an experienced vendor,
we can help you so that your accounting passes the DCAA test.
