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.
Time tracking is the first thing that you should do. DCAA provides guidelines that should be followed by all companies to track time. No company is an exception to this. Thus, employees should always clock in and out. Additionally, all the projects should be allocated the correct hours and unpaid time to be recorded. More so, there should be a record showing that all employees are 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.
Additionally, you should get rid of the filing cabinet and use digital means. This is because keeping the hard copies of the time cards is hard as some documents may go missing. Thus, you can make your filing, and storing job to be easier and accurate. Also, you can retrieve them within seconds, no matter where you are.
Always keep an eye on overtime, especially if you are working on a government contract. Make sure that you track all the hours that employees put in their work. This is critical whether they will be paid for the extra hours or not. This is because the agency calculates the cost of the entire project based on the total number of hours you and your team work.
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.
Also, you must always ready yourself for inspections. You cannot avoid inspections by the agency. Thus, you should be ready all the time and ensure that your documentation is accurate and updated. Being prepared for inspection will keep you away from compliance issues.
Time tracking is the first thing that you should do. DCAA provides guidelines that should be followed by all companies to track time. No company is an exception to this. Thus, employees should always clock in and out. Additionally, all the projects should be allocated the correct hours and unpaid time to be recorded. More so, there should be a record showing that all employees are 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.
Additionally, you should get rid of the filing cabinet and use digital means. This is because keeping the hard copies of the time cards is hard as some documents may go missing. Thus, you can make your filing, and storing job to be easier and accurate. Also, you can retrieve them within seconds, no matter where you are.
Always keep an eye on overtime, especially if you are working on a government contract. Make sure that you track all the hours that employees put in their work. This is critical whether they will be paid for the extra hours or not. This is because the agency calculates the cost of the entire project based on the total number of hours you and your team work.
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.
Also, you must always ready yourself for inspections. You cannot avoid inspections by the agency. Thus, you should be ready all the time and ensure that your documentation is accurate and updated. Being prepared for inspection will keep you away from compliance issues.
About the Author:
Your one-stop source for information on dcaa compliant is right here on the Web. Click on the following link to take you to our main home page http://www.facturellc.com/leadership.
0 comments:
Post a Comment