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7, May
2018

Convert Deltek to QuickBooks, The DCAA Way

Recently we've received an increased number of inquiries from government contractors interested in transitioning from Deltek to Quickbooks and concerned with their overall costs as well as the performance of their  accounting services providers. Understandably, this led us to take a pause and consider what our government contractor clients' concerns were--and how we were addressing them. There is a massive amount of information and regulations involved in DCAA compliance, and we provide these DCAA accounting services for government clients, but if you're looking to understand your options and help digest an overwhelming amount of information, the following overview is for you.

The History of DCAA Compliant Accounting

The escalation of U.S. involvement in Vietnam after the Gulf of Tonkin incident led to a rapid rise in the number of government contracts awarded for military equipment. In his 1961 farewell address, when he used the term “military–industrial complex,” President Dwight D. Eisenhower offered a warning about the growing fiscal relationship between the defense industry and policy legislators.

The following year, in a study known as Project 60, Secretary of Defense Robert S. McNamara ordered an examination of the contract management and administration processes of all branches of the armed services. As a result of this study, many of the Defense Department’s contract administration responsibilities were shifted to the Defense Logistics Agency. The study also resulted in the creation of the Defense Contract Audit Agency (DCAA) in 1965.

Department of Defense spending continued to grow throughout the following decades. Incidents such as the $436 hammer scandal exacerbated public concerns regarding government waste and overspending. Although the enormously inflated cost of the hammer was later shown to be an accounting error and not an invoiced purchase price, similar stories of Pentagon waste led to another in-depth review of contract administration within the Department of Defense. In 1990, Defense Management Review Decision 916 resulted in the establishment of the Defense Contract Management Command (DCMC) within the Defense Logistics Agency. Cost-type proposals less than $100 million and fixed-type proposals less than $10 million are reviewed by the DCMC.

6, February
2018

How to Forecast Cash Flow in QuickBooks

Your company's cash flow forecast is the fuel that keeps things going and your business growing. The money coming in.

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21, December
2017

How to Set Up Class Tracking in QuickBooks

Want to go beyond standard account-based tracking in QuickBooks? Expanding into class tracking provides you with a.

17, July
2017

Accounting Tips: Understand Differences Between Divisions and Classes

The ability to sort accounting transactions by user-defined divisions and classes in QuickBooks is a great way to.

9, June
2017

How to Set Up an AR Aging Report in QuickBooks

When you are running a business, keeping on top of outstanding invoices is important. Not only will this give you a.

5, November
2015

QuickBooks Online Updates - October 2015

Author : Kris Merritt
Comments: 0

QuickBooks Online has more than 1 million users, and it is one of the most popular accounting programs for.

3, June
2015

How AccountingDepartment.com Selects Its Preferred Accounting Technology

When clients or prospective clients approach our team with their bookkeeping challenges, it often results in a.

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