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.
Firstly, you should make sure that you are tracking your time. There are guidelines that DCAA requires all companies to use to track their time. This is critical whether you are working with the government or not. Therefore, employees should clock in at all times. Also, you should allocate correct hours for projects and ensure that the unpaid time is recorded. Employees should also be aware of everything.
The second thing is to ensure that you are genuine and straightforward. Hence, you should not cut corners as this may land you into serious problems. During time tracking, all parties are important. Thus, all employees, managers, supervisors, and foremen should track their time. Also, the time sheets should be in good condition, accurate, and legible. The use of digital means is thus the best.
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 are advised to use digital filing means instead of the traditional ones. This will keep your information safe and easily accessible. The old filing system is also effective, but there is a higher chance of misplacing documents. Thus, to ensure that there are easy retrieval and safe storage of information, use digital means to do the filing.
Also, it is advisable to note all the hours that your employees take in, including the overtime hours. Thus, track all the hours that your employees work every day, whether they are paid for or not. Auditors calculate the project cost based on all the hours that your team has worked, including overtime. These are referred to as uncompensated hours.
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.
Additionally, always stay ready for inspections as they can come at any time. Sometimes the agency may announce their coming, but this may not happen all the time. Thus, always be prepared and make sure that all your documents are updated. This will help you to avoid any issues of noncompliance.
Firstly, you should make sure that you are tracking your time. There are guidelines that DCAA requires all companies to use to track their time. This is critical whether you are working with the government or not. Therefore, employees should clock in at all times. Also, you should allocate correct hours for projects and ensure that the unpaid time is recorded. Employees should also be aware of everything.
The second thing is to ensure that you are genuine and straightforward. Hence, you should not cut corners as this may land you into serious problems. During time tracking, all parties are important. Thus, all employees, managers, supervisors, and foremen should track their time. Also, the time sheets should be in good condition, accurate, and legible. The use of digital means is thus the best.
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 are advised to use digital filing means instead of the traditional ones. This will keep your information safe and easily accessible. The old filing system is also effective, but there is a higher chance of misplacing documents. Thus, to ensure that there are easy retrieval and safe storage of information, use digital means to do the filing.
Also, it is advisable to note all the hours that your employees take in, including the overtime hours. Thus, track all the hours that your employees work every day, whether they are paid for or not. Auditors calculate the project cost based on all the hours that your team has worked, including overtime. These are referred to as uncompensated hours.
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.
Additionally, always stay ready for inspections as they can come at any time. Sometimes the agency may announce their coming, but this may not happen all the time. Thus, always be prepared and make sure that all your documents are updated. This will help you to avoid any issues of noncompliance.
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