DCAA QuickBooks Setup and Review
To become compliant with Federal Acquisition Regulations (FAR), and meet Defense Contract Audit Agency (DCAA) audit standards, your business has to have policies and procedures that ensure controls are in place for your accounting and financial reporting. It’s critical that your QuickBooks® software is set up correctly for this reporting to be accurate and compliant with these standards.
Setting up your QuickBooks® software to be DCAA compliant can be tricky for any business owner. Don’t risk making mistakes that will take a lot of time to correct later on, call Bay Business Group today. Before we get started, we take the time to talk with you and learn all we can about how your business operates day-to-day. Then we customize your QuickBooks software to meet the specific DCAA accounting requirements of your business so you can track the relevant financial data accurately. Keeping your records in order throughout the year will also save you money on tax preparation at the end of the year
Our Falls Church CPA firm has experience reviewing existing accounting policies and procedures to identify areas of concern. If you are new to government contracting, we can assist you in drafting new accounting policies and procedures to meet the rigorous standards set forth by FAR and DCAA. We can also review your QuickBooks data file at regular intervals to be sure this information is being recorded correctly.
Our governmental accounting services for QuickBooks include:
- Review of existing accounting policies and procedures manual
- Draft new accounting policies and procedures manual
- Review of accounting systems for compliance
- Review chart of accounts structure for compliance
- Review of internal controls and procedures for compliance
- Assistance resolving FAR and non-compliance issues with DCAA
- Evaluation of accounting system
- Labor cost tracking
- Job cost reporting
- DCAA compliant balance sheets
- Segregation of direct and indirect costs
- DCAA audit assistance
If you need a CPA who understands the standards, rules and regulations required by business who work as government contractors, we can help. We’ll draft or review your QuickBooks accounting policies to ensure they meet all the requirements.
Please call our office at 703-533-0888 today. We offer a free consultation for area business owners.