Bookkeeping & Payroll

Professional Government and Commercial Accounting Services Tailored To Your Company's Needs

Bookkeeping & Payroll — DCAA Compliance

With our bookkeeping and payroll services, McNew & Associates provides accountants and bookkeepers that manage the data entry for all transactions and payroll processing for your company.  A benefit of choosing McNew & Associates as your bookkeeping and payroll service provider ensures that your books will be maintained in a DCAA/DCMA compliant manner continuously as every transaction is entered.

  • Primes looking for “audit ready” partners – reduce risk/increase competitive standing
  • Businesses need to decrease overhead/G&A costs to be competitive
  • Lack of internal supporting expertise to support quality core tasks
  • Capability to manage growth of business & balancing compliant business systems
  • FAR (Federal Acquisition Regulation)
  • DFARS (Defense FAR Supplement
  • CAS (Cost Accounting Standards)
  • Audit Support
  • Compliant Core Business Systems
  • Contract Admin & Management
  • Training
  • Trend & Solution Analysis
  • Scalable Experts Based on Needs of Company
  • Financial Reporting
  • Accounts Receivable & Payable
  • Budget Development & Analysis
  • Indirect Rate Calculation & Monitoring
  • Job Status Reporting
  • Invoicing & Payroll Processing
  • Regularly Scheduled Bookkeeping
  • CFO Services
  • Monthly Compliance Monitoring & Review

DCAA COMPLIANT QUICKBOOKS

Is your company struggling to create or maintain a DCAA compliant QuickBooks accounting system that properly aligns and tracks costs? QuickBooks is an incredible tool but is not always utilized to its fullest capabilities within DCAA Accounting. Despite the myth, there is such a thing as a DCAA compliant QuickBooks. Allow McNew & Associates to expand your system’s capabilities to become a fully DCAA compliant QuickBooks system. We will set your company on the path to success by aligning company costs into a specialized, fully compliant system from the start.

The key to any accounting system is its underlying policies and procedures. These policies and procedures are of utmost importance to a DCAA Compliant QuickBooks system. When DCAA arrives for your accounting system audit, they will ask for your accounting policies and procedures and will want to do audit testing to ensure contractor employees are following these procedures. They can also ask for any accounting system information, including the policies and procedures, at any time throughout the year. And if you haven’t yet heard, DCAA is on the Pass/Fail rating system for accounting systems, so it must be right the first time. Worse yet, if this information is not provided within 72 hours, DCAA can consider you to be a non-responsive contractor.

You know your business and where you want to take it. MAI will provide you with the tools needed in which to get there. While others struggle to align things into total compliance, you will know that you are right where you need to be.

If you are using another accounting system such as Deltek GCS, or plan to go to another system, we can help you establish and maintain compliance. If you are using QuickBooks, we will configure and add to QuickBooks exactly what you’ll need to be DCAA, FAR, and CAS compliant, for a price you can afford.

Our DCAA Compliant QuickBooks conversion comes with:

  • System Conversion
  • Remodeled Chart of Accounts
  • Activation of Critical QuickBooks Modules and Items
  • Indirect Rate Model Development and Monitoring Capability
  • Job Cost Summary Reporting
  • Segregation of Direct Costs from Indirect Costs.
  • Identification of Unallowable Costs
  • DCAA Compliant Standardized Policies and Procedures
  • Utilization of Payroll Service Items, etc.

A DCAA Compliant Accounting System should have:

  • GAAP Compliant with Accrual Based Accounting
  • Proper segregation of direct costs from indirect costs.
  • Identification and accumulation of direct costs by contracts.
  • Logical and consistent method for allocation of indirect costs to intermediate and final cost objectives.
  • Accumulation of costs under general ledger control.
  • Timekeeping system that identifies employees’ labor by intermediate and final cost objectives.
  • Labor distribution system that charges direct and indirect labor to the appropriate cost objectives.
  • At least monthly determination of costs charged to a contract through routine posting of books of an account.
  • Exclusion from costs charged to government contracts of amounts which are not allowable in terms of FAR 31, Contract Cost Principles and Procedures, or other contract provisions.
  • Identification of costs by contract line item and by units if required by proposed contract.
  • Segregation of preproduction costs from production costs.
  • Limitation of Costs
  • Interim Billing of Costs
  • Adequate, Reliable Data
  • Full Operation of the Accounting System

*Requirements taken from the Standard Form 1408*