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As a small business owner, handling contracts while abiding by Defense Contract Audit Agency (DCAA) timekeeping regulations, without any aid, is arduous. When you log timesheets improperly, inaccurately record your employees’ work hours and fail to have a system that keeps your accounting books audit-proof, you put your good relationship with other businesses or clients at risk. DCAA compliance extends to maintaining accurate, transparent timesheets to prove no oversight regarding employee working hours.
With BigTime, you can easily organize the records and reports of your timesheets and have worry-free audits. BigTime is a DCAA compliant timekeeping software that seamlessly integrates with your accounting system to remove the hassle of maintaining compliance standards. Not only do you save yourself from the anxiety of being audited, but your records are accurate, removing last-minute errors by utilizing BigTime’s DCAA compliance time tracking software.
This compliant timekeeping software goes further than only tracking your time. You can smoothly implement the software with QuickBooks and Sage to track your expenses and build an easy-to-use, straightforward accounting system that is audit-proof. By effectively managing your business’s time and billing records according to compliance standards, BigTime enables you to focus on other aspects of your business, including rendering your services and negotiating with clients.
From applying timesheet restrictions to safeguard and secure your audit trail to enforcing authentication processes that prevent employees from logging in timesheets in advance, timekeeping software creates an effective system that benefits your business. You can access all your data from one straightforward dashboard with advanced filtering features that give you a robust reporting experience.
BigTime gives you the services you require to take your internal workflow to the next level in a DCAA compliant, effective and stress-free manner. Hence, you can increase the efficiency and ease of your payroll process.
DCAA Timecard Audit Checklist
Audits can be daunting, especially when you have no guarantee that you are tracking your time and expense records in compliance with DCAA audit programs. BigTime ensures that you have an accurate trail of business records to adequately respond to timesheet audit questions and stay confident when encountering any audit. In compliance with the auditing policies found in the DCAA Contract Audit Manual, this software enables you to tick off items in the timecard audit checklist, such as:
- Employees must log in work hours themselves
- Records of work hours must include unpaid leaves, vacation and overtime
- The work hours must be accompanied by the project the employee was handling during that period
The DCAA Contract Audit Manual is an official publication that specifies auditing policies, procedures and guidance that auditors abide by to assess the adequacy of business processes. BigTime replaces mundane manual timesheets with electronic timecards that make up an automated and convenient timekeeping system.
You can easily manage the automated timekeeping system to have an accurately detailed audit trail of business records to enable you to deal with a DCAA timesheet audit effortlessly. Whether you use QuickBooks or Sage as your accounting system, you can easily integrate it to efficiently manage information like employees’ work hours, project details and payroll.
DCAA Compliance Checklist
You have to manage your business, and you also have to ensure that you appropriately direct your resources to deliver on the project at hand excellently. Hence, you do not have all the time to keep track of guidelines and rules when it comes to your timekeeping. A DCAA compliant timekeeping software solves all the hassle involved in keeping up with the components of a DCAA compliance checklist.
BigTime enables you channels more workforce into your project while it effectively takes care of deliverables on a DCAA adequacy checklist, including:
- Notifying project managers on critical areas such as the budget being at risk
- Providing cloud-based and mobile time entry options for employees that are working remotely
- Enforcing authorization levels with different policies for staff while preventing the premature submission of time entries before due
- Implementing detailed workflows for recommended timesheet edits
- Adding a required note field for detailing projects associated with timesheets
- Accurately tracking Labor category and CLIN (contract line item number) budgets
- Automatically handling review and approval processes
Federal Contractor Timekeeping Requirements
DCAA timekeeping requirements consist of guidelines that government contractors have to follow in keeping their records to avoid penalties. By following these federal timekeeping requirements, you prove that your business is meticulous in its record-keeping processes. With the aid of timekeeping software that ensures your business follows these requirements conveniently, you can easily keep up with the government timesheet regulations, which include:
Provide Detailed Documentation to Your Employees
You should provide detailed documents explaining to your employees about effectively recording data on the timesheets. Hence, everyone stays in the loop with little or no errors that can affect the accuracy of your records.
Submit DCAA Timesheets Daily
You must submit DCAA timesheets daily to ensure that your records are highly accurate. This system disapproves of timesheets submitted in advance or after a period, as these records are not compliant. Submitting timesheets daily extends to recording all the work hours for that day, leaving none out.
Approve Records To Ensure They Are Correct
The time data employees submit must be approved by their supervisors to ensure the records are accurate and to avoid any oversight. When the employee needs to make corrections to the entry, only the employee can make such corrections that their supervisor will approve.
Other federal contractor timekeeping requirements include transparent audit trails, access authentication and comprehensive notes. BigTime’s features cover all these requirements giving you the peace of mind to handle your firm.
Daily DCAA Timekeeping Requirements
Not following the DCAA guidebook when it comes to only recording timesheets daily can lead to several problems. The accuracy of timesheets is significantly tied to the duration between the record and when the employee submits it. Options like submitting timesheets or recording time in advance are false because the employee has not done the job slated for that time, but because the employee may still not utilize that period to get the job done.
Recording time days after can also be subject to error, and the work hours may have been forgotten or cannot be accounted for by the supervisor. The importance of following daily DCAA timekeeping requirements is to improve the accuracy of your federal government timesheets, ensuring that records are correct and that supervisors can point out any corrections for the employees to implement as soon as possible without affecting the business’s processes.
With effective timekeeping software, you can ensure that your employees record their time daily, according to compliance regulations, and avoid wasting time reviewing errors from using manual systems that employees must register in ink.
DCAA Compliant Accounting Software
One of BigTime’s best features is its seamless integration with accounting software like QuickBooks and Sage Intacct to make a DCAA approved accounting system to remove all the mundane tasks associated with your financial reports and billing platform. You can implement effective billing without entering the same data twice, efficiently track your employees’ time and easily handle scheduling. In addition, you can easily combine with QuickBooks and Sage Intacct to implement systems with practices that make up a DCAA compliant accounting software solution.
Enjoy a FAR approved accounting system that adapts to your business’s needs, regardless of how your processes scale. From conveniently importing necessary data from other accounts or locations to efficiently submitting and posting detailed timesheets directly on your accounting software, rest assured that your records across several systems and projects will remain accurate and consistent. You can also use our software to create invoices, push them to your accounting software and effortlessly record your payments.
Our team provides the support you need to pass a DCAA accounting system audit checklist comfortably. With benefits like time tracking, scheduling and syncing with all your projects with no downtime, you can enjoy accounting processes with zero human errors. Using an automated system to calculate your hours, rates and expenses accurately enables you to send invoices across multiple systems quickly.
DCAA Compliant Accounting Software for Small Business
Accounting processes such as creating invoices, tracking payments and expenses, keeping records of relevant data and posting timesheets are only part of your business. DCAA compliant accounting software for small businesses can efficiently manage this part of your business, helping you to effectively utilize your resources and handle smooth collaboration across your systems by automating accounting processes.
With BigTime, you can manage all your current workflows, expenses and reports from one central, clutter-free space that integrates easily with your other platforms. Using the best DCAA compliant accounting software, you can productively track your workflows with detailed timesheet reports on time entries, authorized approvals and audit log notes. WE help you adequately monitor crucial KPIs and immediately notice when things are going off track.
Whichever accounting software you use to manage your small business’s accounting requirements, whether QuickBooks or Sage Intacct, easily integrate it to boost the efficiency of your accounting processes while obeying DCAA compliance guidelines.
Learn more by getting a demo and discovering how you can improve the profitability of your projects with DCAA compliant accounting software for QuickBooks.