As the year is drawing to a close, many new contract opportunities open up for government contractors. This end-of-year spending rush is quite common, as government agencies find ways to make use of excess funds in their yearly budgets. How can you get a piece of that...
QuickBooks is a popular accounting tool for small businesses, and it can be used while maintaining compliance with FAR and DCAA for government contracts. However, you do have to ensure that you’re utilizing QuickBooks properly if you want to maintain that compliance....
If you’re a government contractor, proper cost allocation is absolutely essential to receiving and retaining government contracts. Failure to properly allocate your costs can result in you losing your ability to contract with the government at all in the future, and...
Government Contract Accounting and 7 Top Practices for Time and Time Reporting Time and time reporting is one of the main ways that government contractors get their revenue and profits. Making a mistake with time and time reporting may have negative effects on their...
A Look at How to Provide Rates for Government Contracts Your COA, or Chart of accounts, is your company’s financial blueprint– containing all your financial transactions in a given year, broken down into meaningful categories. It helps you organize...
Working as a government contractor involves navigating a host of regulatory requirements—and learning all the acronyms that go with them. One of those acronyms is PBR, or Provisional Billing Rate. PBR is a critical step for contractors with cost-reimbursable and Time...