LHE specializes in the needs of government contractors.
Whether you are just bidding on your first government contract or already working with government agencies, our will help you maintain compliance.
The requirements outlined under the Federal Acquisition Regulations (FAR) and the Defense Contract Audit Agency (DCAA) are complex and can create an administrative burden. We are knowledgeable and experienced, and our are designed to help you stay compliant and maximize your profitability.
DCAA Rate Calculations
Pricing a proposal correctly is one of the most important tasks for a government contractor. The proposal has to be priced competitively and allow the company to cover is overhead plus make a profit. LHE has the experience to help you determine your cost pools, calculate your rates, and submit your competitively (and profitability) priced proposal.
Incurred Cost Submissions
Government contractors who have a time and materials or reimbursable contract are required to submit an incurred cost submission after the contract concludes. LHE ensures your incurred cost submission is completed accurately and on time. We can calculate all the supporting costs and excludes all the costs that are not allowed. This assists when you close out your contract.
As a government contractor, you must maintain a DCAA compliant accounting system. LHE is frequently asked if QuickBooks is DCAA compliant. The answer is absolutely. You don’t need to learn a new, expensive software for government contract compliance. However, there are some things that must be done to ensure its compliant. We can help you meet these requirements with group or one-on-one training and assistance.
Accounting Policies and Procedures & TimeCards
To meet DCAA standards, you must pass a Pre-Award audit. Three things are reviewed: your accounting system, your TimeCards, and your Accounting Policies & Procedures (PoP). TimeCards can be manual or electronic - but they must meet certain conditions. The PoP is not a "normal" accounting procedure handbook - it covers very specific subjects and explains how some reports are created. LHE can provide assistance in both of these matters.
DCAA Audit Support
We can support you with the following types of DCAA audits:
• Pre- and post-award audits
• Accounting system audits
• Cost proposal
• Billing system audits
• Indirect rate negotiation
• Incurred cost audits
• Forward pricing rate audits
Looking forward to hearing from you.