In case you have obtained a government contract, the first thing you should do is complying with the auditing agency. You have to comply with the Defense Contract Audit agency so that you can continue running your business without any issues. Additionally, you should avoid any compliance issues by being DCAA Compliant. Your company should thus have documented policies and procedures that should be followed strictly to show compliance. Additionally, you must come up with a tracking system for hourly labor charges. There are steps that you should follow to ensure that you comply with the auditors to avoid issues with the agency. Some of the steps are listed below.
The first thing you should do is to track your time. The DCAA requires that all the companies follow its guidelines during time tracking. This does not matter whether you have a government contract or not. Therefore, all employees should have daily time entries and projects should have correct hours allocated to them. Also, there should be a record of unpaid time, and evidence that employees are aware among other guidelines.
Secondly, you should avoid cutting corners. Thus, you must always be straightforward and make sure that everything is clear. All people are important when it comes to time tracking. This includes the managers, foremen, as well as the supervisors. Also, all the timesheets should be legible and accurate. It is advisable to use digital means to ensure that records are clear.
Additionally, you should be in control of the labor costs. This is not like buying materials where there are receipts. Paying people is different, and it should be kept under control. Therefore, the logs should be accurate. To do this, it is wise to have daily reminders and ensure that every entry that is made is logged automatically and stamped. This is inclusive of revisions.
More so, you must make sure that you shift from the traditional filing system to the digital one. Traditional filing is still okay, but documents can be misplaced or lost. Therefore, you should use digital means to file and store all information. This will make it easier to retrieve at any time no matter what you are doing.
More so, you should always take note of the hours your employees work every day. Make sure you also take note of overtime. This is essential, and it does not matter whether the hours are paid for uncompensated for. The Defense Contract Audit Agency uses all hours to calculate the total cost of projects.
More so, it is advisable to sync the payroll and timesheet. This is necessary before you take up any contract by the government. Hence, always ensure that your accounting system is updated. If you do not know how to do the syncing, you should seek advice from experienced experts.
More so, you should always be ready for inspections. Sometimes you have no idea when the auditors will come. Thus, it is always good to stay prepared. Make sure that everything is up to date at all times so that you can pass the inspection.
The first thing you should do is to track your time. The DCAA requires that all the companies follow its guidelines during time tracking. This does not matter whether you have a government contract or not. Therefore, all employees should have daily time entries and projects should have correct hours allocated to them. Also, there should be a record of unpaid time, and evidence that employees are aware among other guidelines.
Secondly, you should avoid cutting corners. Thus, you must always be straightforward and make sure that everything is clear. All people are important when it comes to time tracking. This includes the managers, foremen, as well as the supervisors. Also, all the timesheets should be legible and accurate. It is advisable to use digital means to ensure that records are clear.
Additionally, you should be in control of the labor costs. This is not like buying materials where there are receipts. Paying people is different, and it should be kept under control. Therefore, the logs should be accurate. To do this, it is wise to have daily reminders and ensure that every entry that is made is logged automatically and stamped. This is inclusive of revisions.
More so, you must make sure that you shift from the traditional filing system to the digital one. Traditional filing is still okay, but documents can be misplaced or lost. Therefore, you should use digital means to file and store all information. This will make it easier to retrieve at any time no matter what you are doing.
More so, you should always take note of the hours your employees work every day. Make sure you also take note of overtime. This is essential, and it does not matter whether the hours are paid for uncompensated for. The Defense Contract Audit Agency uses all hours to calculate the total cost of projects.
More so, it is advisable to sync the payroll and timesheet. This is necessary before you take up any contract by the government. Hence, always ensure that your accounting system is updated. If you do not know how to do the syncing, you should seek advice from experienced experts.
More so, you should always be ready for inspections. Sometimes you have no idea when the auditors will come. Thus, it is always good to stay prepared. Make sure that everything is up to date at all times so that you can pass the inspection.
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