The nation’s largest ever spending bill earmarks $10.5 billion for the Department of Defense to support healthcare and medical care, procuring and transferring equipment, research and development, and the deployment of key hospital ships and supplies incurred by medical operations and deployments. It also includes funds to bolster IT equipment and increase bandwidth, prop up the defense industry as the Defense Protection Act is invoked, and increases production lines, supply chains and access to materials.
This infusion of capital will naturally create significant economic activity and many of our government contractors and subcontractors are already feeling the pressure to get up to speed, especially in their accounting. DCAA compliant accounting systems will still be a requirement and as you navigate new contracts, or even explore the opportunities to receive a first government contract, you need to make sure that your accounting systems are in place according to regulations. Having that infrastructure in place is critical to successfully bidding, receiving and performing on government contracts. You may be surprised what you really need, and even what you think you need but possibly do not.
We have a tremendous number of resources for new and expanding government contractors in addition to an entire dedicated team of government accounting experts servicing our GovCon clients.
Resource Quick Access Links:
- DCAA Compliance Overview for New Contractors
- Affordable DCAA Compliant Accounting Systems for Small Businesses
- Cover Your Bases: Cybersecurity for the Government Contractor
- 7 Common Accounting Problems Confronting Government Contractors - and How to Solve Them
Need to get up and running quickly? Contact our team today for information on how we support GovCon with DCAA compliant accounting services.