18 SBIR Accounting Mistakes Every Government Contractor Needs to Know
When it comes to SBIR accounting, there’s a lot of “theories and myths” that float around. Making government contractors feel okay about how their keeping up with their accounting even though it’s not Federal Acquisition Regulations (FAR) or DCAA compliant. After all what is compliant? The ... Read More →
Are You Ready for your SBIR Phase II Award?
Graduating from Phase I to Phase II is a completely different experience. Indirect rates, annual rate reporting, continued quarterly reporting, and considering the closeout of your award is your new normal. Having an adequate accounting system is the cornerstone of making your experience on the financial compliance side ... Read More →
Top 3 Human Resource FAQs for Overtime Pay
At the end of your payroll cycle, do you find yourself struggling to determine whether you owe overtime to your employees? To help, we put together the top 3 frequently asked questions we receive about overtime pay. Q: I pay my employees every two weeks. Does ... Read More →
It’s Time to Review Your Employees’ Employment Files!
If employers’ personnel records are improperly filed, this can result in liability issues for the employer. It’s especially important to annually review your personnel files to ensure that they are filed correctly. Below you will find several different files for each employee and a review of each ... Read More →
Ensuring Accurate Data
As part of your company’s management, you are responsible for ensuring accurate data, regardless of being a government contractor or a commercial firm. As such, timely coding of transactions is crucial to the accuracy of your data, not to mention internal and external reporting to investors, ... Read More →
Are You Ready for a Voucher Audit?
When the government comes calling and asking for you to support a voucher you submitted, or a draw-down you requested, can your accounting system clearly demonstrate where the respective costs came from? In other words, if you submitted a voucher for $100,000, of which there was ... Read More →
Are More Government Audits the New Normal?
It appears that government audits are on the rise, especially coming from DCAA. An auditor indicated that the increased audit activity would pretty much be the new norm, given what appeared to be lower audit activity over the past five-plus years. The audits are more comprehensive ... Read More →