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.
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.
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.
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.
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.
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.
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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