Compliance Blog

Whether you are preparing for cost-type contracts, or simply want a complete understanding of the costs associated with specific jobs, you need to understand how to structure your accounting system for government contracting. Join us for a live educational webinar to learn how to prepare your accounting system for government contracting.

Government contractors subject to FAR 52.216-7 are required to submit an adequate final indirect cost rate proposal within six months following the contractor’s fiscal year end. Learn the purpose of an Incurred Cost Proposal, the information required, and steps for submitting this report.

Understand the implications of winning an SBIR award on your accounting practices. Learn when you need a compliant accounting system, what is required for an adequate accounting system, and how you can prepare your accounting system for a future audit.

Get up to speed on what is required for an adequate accounting system, know what to expect in an accounting system audit, and see how DCAA evaluates incurred cost proposal adequacy. We've compiled a list of key resources from DCAA that small businesses should be familiar with.

QuickBooks Desktop can be configured to use the QuickBooks Payroll function to support labor distribution to cost objectives based on timesheet data. Together with ICAT, implementing these capabilities enables government contractors to satisfy the labor distribution requirement of DCAA compliance.

Government agencies and prime contractors want contractors and subcontractors with low-risk profiles. Increase your chances of winning Federal contracts by demonstrating your business prioritizes risk management and operational standards with certifications and business systems compliance.

Learn what a Preaward Accounting System Review entails and the SF1408 compliance criteria you need to have in place for DCAA compliance.

New government contractors benefit from budget planning, pricing insights, and new contract opportunities with a DCAA compliant accounting system. Plan ahead to leverage insights from your accounting system, and support the growth of your business.

At a recent conference, an 8(a) firm told us they were advised that QuickBooks® cannot be deemed DCAA compliant. The truth is, countless businesses have passed the DCAA accounting system review using QuickBooks as their accounting system backbone.

ICAT Systems is excited to announce the first on-demand certificate program in government contract cost accounting. This comprehensive course is designed to help government contractors and their accounting professionals master the day-to-day accounting methods and compliance requirements for accounting system compliance, provisional billing rates, and final indirect cost rate proposals.

ICAT enables a government contractor using QuickBooks® to set up a DCAA Compliant accounting system, and meet the requirements imposed by the Federal Acquisition Regulation (FAR) and Defense Federal Acquisition Regulation Supplement (DFARS).

One of the toughest challenges small and medium-sized federal contractors face is setting up and implementing an accounting system that satisfies requirements imposed by the Federal Acquisition Regulation. What do you need to know and how can you be prepared to meet these challenges, and even a government audit?

For many growing businesses, setting up a DCAA compliant accounting system can be daunting. Small business government contractors must develop policy & procedure statements, organize the cost pool structure into the chart of accounts, set up timekeeping, configure the labor distribution process, and manage indirect rate calculation, indirect cost allocation, and job cost reporting. Understanding a few fundamental points can help small businesses more confidently manage their contract accounting.