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DCAA &

Project Accounting

One of our specialties is working with companies that require project accounting and DCAA compliance.  We use Acumatica's Project Accounting module to run our own services business, and we have worked with many companies that require project accounting in the government space where DCAA compliance is required.

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COST PLUS PROJECTS

Project costs consist of direct labor, materials, outside services, fringe, overhead, G&A, fees, and other direct costs that must be accurately calculated and accounted for when invoicing.

RETAINERS &

REV REC

Cash and revenue recognition are separate events.  The process of recognizing revenue must be tied to the progress made on the services provided, not when cash is received.

FIRM FIXED

PRICE PROJECTS

Projects are billed either on a fixed schedule or are milestone based.  Costs are calculated similarly to cost plus projects.  Projects may have a percentage withheld and only paid upon completion.

RESEARCH &

DEVELOPMENT

Your company engages in government contracts that may involve research & development.  Projects may be separated into different phases over time with different rules and requirements.

REPORTING & DCAA COMPLIANCE

Costs must be segregated by project and task as well as direct and indirect costs.  Time tracking and audit trials are extremely important.  Expenses and other data must be captured according to government requirements.

INTEGRATION

Integration may be required with other commercial systems such as CRM, payroll, and payment processors.  Exports and reports for Wide Area Workflow (WAWF) are necessary for uploading data for billing.

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"DCAA compliance is difficult to maintain unless you have a strong ERP that helps you meet DCAA criteria. To achieve this, you must do this through system validation and automation, not manual labor."

- Brian Fletcher, EIS Chief Executive Officer