The consequences for non-compliance with the Defense Contract Auditing Agency (DCAA) can have significant consequences for your government contracts. If you are not keeping track of relevant finance and operations processes, there could be danger ahead in the form of lost business.

Reduce your risk by preparing for audits by utilizing financial software that tracks direct and indirect costs, including information related to accounts payable and timekeeping.

Microsoft Dynamics 365 for Government Contractors provides a streamlined framework to maintain data according to DCAA standards, ensuring that contracts are ready for audit at any time.

Javier Ramirez, Dynamics 365 Practice Director and government contracting specialist, will review standards mandated by the DCAA and demonstrate how Microsoft Dynamics 365 supports compliance. Specifically, he will discuss how Dynamics 365 enables you to:

• Follow the Generally Accepted Accounting Principles (GAAP)
• Show consistency between estimations and transactions for hourly labor rates
• Segregate direct costs from indirect costs
• Properly identify and accumulate direct costs by contract
• Allocate indirect costs logically and consistently
• Provide an auditable timekeeping system that calculates direct and indirect cost at the time of approval and posting
• Show determination of costs charged to a contract through routine posting of books
• Manage allowable and non-allowable cost by contract
• Identify costs by contract line items and units

This brief-but-informative session is a powerful investment for your team. The short amount of time spent attending will yield critical insights into maintaining your contractual relationships.