Government Contract Accounting: Outsource for Compliance & Accuracy

We take care of it all, including loading historical information, handling setups and support, sending out invoices, and recording time. We are one seamless back-office solution for GovCons, integrated and interlaced to provide the best service offerings to our clients. Our team makes sure you are ready to fly through your next VC’s accounting, HR and tax due diligence.

DCAA compliance accounting and bookkeeping:

• It’s no surprise that a complex set of accounting and bookkeeping requirements are attached to doing business with the federal government.
• Outsourcing to government accounting services professionals familiar with government cost principles ensures proper cost categorization.
• It involves unique requirements, such as specific cost structures, detailed record-keeping, and frequent audits.
• Our expert-led, on-demand training series, Government Accounting Compliance for Small AE Firms, teaches you how to navigate complex government accounting regulations and ensure compliance.

It gives companies the option to handle their own payroll processing and HR management or to outsource the operations to an EOR or PEO service. The primary difficulty in achieving DCAA compliance is in understanding the complex and changing standards for regulatory compliance. More specifically, per FAR 16.3, if your business has a Cost type contract, you must prove your actual costs of doing business outsourced bookkeeping services and have the ability to project your future costs (including direct costs, overhead, G&A, and fringe). The only way to do this is to implement and properly maintain a DCAA compliant accounting system.

DCAA COMPLIANT ACCOUNTING SERVICES for Government Contractors

With their professional CPAs, you will receive expert accounting solutions with their service and help with tax filing and submission of financial statements and reports allowing you to put your focus on the contract. These costs are not directly tied to a specific contract but are necessary for overall operations. These costs must be allocated proportionally across contracts in compliance with FAR and CAS, ensuring fairness and accuracy in government contract billing. They purchase more goods and services than any other entity, and they are one of the best customers in the world that a small business can have as they always pay on time, and it seems their demand is always increasing in some capacity. They not only have a long list of terms and conditions for which they expect their suppliers to comply with, they also can dictate how a company does their accounting, their billing and other seemingly standard business tasks. Companies that do not prepare for and then comply with these requirements, will not be viewed as suppliers of value to the Federal Government and will not be doing continuing business with the Government.

Deel Engage

• NeoSystems specializes in services, professional staff, and accounting software for government contractors —including the suite of Deltek products— as well as training for the full range of managed accounting and reporting functions.
• At Kruze, we offer unparalleled tax advisory services that cater specifically to the diverse and ever-evolving needs of NYC startups.
• Outsourced accounting for government contracts helps you reduce business costs significantly.
• SAGE has found that 90% of accountants think accounting is going through a cultural shift that favors technology.
• Our interactions with Deel staff were timely and informative, providing insight into ways the company’s various products work together.
• Outsourcing your accounting and bookkeeping functions to Financial Advisory Systems, PLLC makes sense for busy government contractors.
• This also leaves the contractor’s administrators free to manage daily tasks with less pressure.

With support from NeoSystems, your teams can focus on winning new contracts and completing client assets = liabilities + equity deliverables. We are “passionate for what’s next.” Whatever lies ahead for your business, Aprio stands ready to help you advance. Our clients benefit from a proactive team of specialists that collaborate to build value, drive growth, manage risk and protect wealth. Our detailed NYC tax calendar provides a clear roadmap of over tax deadliness specific to New York City startups. From quarterly estimated payments to the critical April 15th deadlines and beyond, we ensure you never miss a beat.

GOVERNMENT CONTRACT ACCOUNTING & CONSULTING SERVICES

To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. Migrating to Costpoint can be tricky when you’re not an accountant so we’ll perform the initial setup for you and ensure that your data is being tracked accurately. EFAACT seamlessly integrates QuickBooks with standard policies and procedures to deliver the consistent results DCAA and other audit agencies require. Learn how a 3PL company improved efficiency by partnering with Invensis and minimizing errors in AP and AR invoice processing.

Outsourced GovCon Accounting

• Being prepared for these audits is essential for contractors working with government agencies.
• By outsourcing these complex accounting duties, contractors can pass DCAA compliance standards using a CPA firm experienced in federal regulations and accounting compliance.
• Their experience will help you achieve and maintain compliance with SBA, FAR, DCAA, CAS, etc., keeping your business financially secure before, during and after the contract.
• The Deel Resource Hub includes courses, downloadable reports and other self-help guides related to payroll and HR management.
• An additional benefit is that of the services for various ancillary responsibilities including reconciliation, etc.
• Businesses can track their payroll spending by using the product’s reports and analytics, including customizable dashboards for monitoring the amount they’re spending on benefits, retirement plans and government obligations.
• Remote’s EOR product costs $699 a month when purchased by the month and $599 a month with an annual contract.

Payroll can be run weekly, biweekly, semi-monthly, monthly or off-cycle as needed without any additional charge. In addition to handling all of your company’s compliance and tax filings for international payroll in more than 100 countries, the service gives you access to Deel’s in-house experts on payroll regulations in countries around the world. The service includes payroll deductions for benefits, salary and tax payments, creation and delivery of payslips, and onboarding and offboarding. Deel is distinguished from other payroll and HR services by its ability to ensure compliance with the unique tax and employment regulations of jurisdictions around the world as well as payroll and employment laws in the U.S.

DCAA Compliant Accounting for Defense Contractors

In the fast-paced world of New York City’s startups, managing tax obligations with precision and foresight is crucial. At Kruze, we offer unparalleled tax advisory services that cater specifically to the diverse and ever-evolving needs of NYC startups. Our team of seasoned tax professionals is equipped to guide your business through the maze of state, city, and federal tax deadlines, ensuring compliance and optimizing your financial strategy. The combined cost of Deel’s U.S. and global payroll and Engage HR software is roughly $70 per employee per month. This means a company with 25 employees would pay at least $1,750 a month for Deel, compared to an industry average of about $650 a month.

From comprehensive bookkeeping to strategic controller and CFO services, we equip you with the tools needed to propel your business forward. Not only are our expert offshore accountants qualified, while strictly adhering to GAAP, but they are also constantly learning to keep themselves updated on the latest changes in modern accounting standards. Their experience will help you achieve and maintain compliance with SBA, FAR, DCAA, CAS, etc., keeping your business financially secure before, during and after the contract. Through strategic alliances with leading software vendors, NeoSystems delivers services built on today’s premier back office applications. Our service offerings are tailored to each client’s size, budget, and industry to create a comprehensive solution.

And when you use us as your bookkeeper, we set up and keep up-to-date a due diligence folder so you can get that next round of fundraising. As our business client, you’ll learn handy tricks to make entering data faster and are always welcome to contact us for support to troubleshoot problems. Outsourcing has become a game-changer for many firms, providing them with the ability to work significantly smarter, not harder. Outsourcing these responsibilities to seasoned bookkeeping and payroll services CPAs ensures the audit preparation and/or audit is performed with reliable practices and results. A trial balance serves as a vital tool in accounting by providing an overview of financial health. Download Invensis’ Finance & Accounting services case study on Automobile Mortgage Loan Processing to find out how Invensis delivered positive outcomes.