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, Inc. (MAI) to expand your system’s capabilities to become a entirely 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.  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. Worse yet, if this information is not provided within just one day, DCAA can consider all or parts of you system to be non-compliant.  
A DCAA compliant QuickBooks accounting system should have:

• Proper segregation of direct costs from indirect costs.
• Identification of 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.

*Requirements taken from the Standard Form 1408*

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 where you are is 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
• Utilization of Payroll Service Items, etc.
• Indirect Rate Model Setup
• Job Cost Summary Reporting
• Segregation of Direct Costs from Indirect Costs.  
• Identification of Unallowable Costs