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.
Secondly, you should avoid cutting corners. Thus, you must always be straightforward and make sure that everything is clear. All people are important when it comes to time tracking. This includes the managers, foremen, as well as the supervisors. Also, all the timesheets should be legible and accurate. It is advisable to use digital means to ensure that records are clear.
More so, you should always be in control of all labor costs. Labor costs are different from buying materials where you will get receipts. This is because paying employees is different and should be controlled. Therefore, all logs should be clear and accurate. If possible, there should be daily reminders. Also, all entries should be automatically logged and stamped, including 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.
More so, you should always take note of the hours your employees work every day. Make sure you also take note of overtime. This is essential, and it does not matter whether the hours are paid for uncompensated for. The Defense Contract Audit Agency uses all hours to calculate the total cost of projects.
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.
Secondly, you should avoid cutting corners. Thus, you must always be straightforward and make sure that everything is clear. All people are important when it comes to time tracking. This includes the managers, foremen, as well as the supervisors. Also, all the timesheets should be legible and accurate. It is advisable to use digital means to ensure that records are clear.
More so, you should always be in control of all labor costs. Labor costs are different from buying materials where you will get receipts. This is because paying employees is different and should be controlled. Therefore, all logs should be clear and accurate. If possible, there should be daily reminders. Also, all entries should be automatically logged and stamped, including 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.
More so, you should always take note of the hours your employees work every day. Make sure you also take note of overtime. This is essential, and it does not matter whether the hours are paid for uncompensated for. The Defense Contract Audit Agency uses all hours to calculate the total cost of projects.
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.
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