You’re probably aware of
the fact that you have to pass an audit conducted by the Defense Contracting
Auditing Agency or DCAA to gain its approval. This audit will include almost
everything imaginable, especially the aspects of your accounting software program.
If you wish to earn success as a government contractor, you have to comply with
this government agency’s regulations. This topic will try to elucidate a few
things regarding the DCAA
Accounting System Requirement.
Implementation
Just being able to afford
the right accounting software solution isn’t going to be enough for your
company. You must be able to implement the same to its most optimized
abilities. It includes making sure you can pay for technical support beyond
everything that may come with the software package and training. It’s
imperative for each member of your organization that will deal with the
contract to receive training in handling the selected software program.
Attributes
You need to keep your eyes
open for software solutions with attributes that will benefit your company
through every step during the entire lifetime of the contract. It means the
software solution has to be able to record financial data accurately and
consistently.
Differentiating capabilities
Next, for an accounting software
solution to appear on an SF
1408 form, it should be able to grow as your company expands. It should
also be able to manage more than one contract at a time without clashing with
other contracts. Appropriate employee training is mandatory here again if you
intend or currently have several contracts. After all, you don’t want to place
one contract’s data to the other. If this problem happens, a DCAA review will
be able to pinpoint it.
Endnote
Since each industry is
different, they’ll have unique requirements. This makes it all the more
important for government contractors to use compliant software programs. The
one you choose should have attributes that you can customize to meet your
company’s requirements.
