If your company has been lucky to secure a contract with the local government, you must ensure that you comply with the contracting agency to avoid facing compliance issues. The Defense Contract Audit Agency requires that all companies should abide by the policies they set. This way, you will not run into any trouble with them. Therefore, you must ensure that your company has documented policies as well as procedures that everyone will follow. More so, the company should create a system that will track all hourly labor charges. The following are some of the steps you have to follow to make sure that you are DCAA Compliant.
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, make sure that you take control of labor costs. This needs close monitoring because it is not the same as buying materials where you get receipts. Hence, the payment of employees should be controlled as it is different. More so, you should have accurate logs. Create daily reminders and ensure that daily entries have been stamped and logged automatically, including all 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.
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.
Moreover, you must be able to sync your payroll with your timesheet. This is a necessity if you have taken up a contract with your local government. Thus, it is critical to see to it that your accounting system is updated. You can also get some training in case you do not know how to sync.
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, make sure that you take control of labor costs. This needs close monitoring because it is not the same as buying materials where you get receipts. Hence, the payment of employees should be controlled as it is different. More so, you should have accurate logs. Create daily reminders and ensure that daily entries have been stamped and logged automatically, including all 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.
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.
Moreover, you must be able to sync your payroll with your timesheet. This is a necessity if you have taken up a contract with your local government. Thus, it is critical to see to it that your accounting system is updated. You can also get some training in case you do not know how to sync.
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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