Defense Contract Audit Agency (DCAA) compliance can be met only through detailed labor and cost center tracking, so that you can prove that your finances align with DCAA rules and regulations. This means your time tracking system must be highly secure and detail-oriented.
With Journyx Time Tracking Software, you can automate the costly process of capturing and reporting contract-specific data and provide critical supporting documentation for DCAA audits.
Maintaining DCAA compliance requires more than just making sure your staff keeps track of their time and inputs their own timesheets. To be compliant, DCAA requires you to record all staff overtime, including any that is unpaid or uncompensated, and all paid time off.
You must show which tasks and projects each employee spends time working on and calculate labor costs based on hours worked. The time records must be reviewed and approved by both the employee and the supervisor. Time keeping should be kept separate from other areas of your business, and reports must be submitted at least once per month.
All of these requirements are made easier with the Journyx interface, which allows each of your team members to enter in the time they spend on each task or project. The simplicity of Journyx time tracking software makes the many requirements of DCAA compliance less time-consuming so you and your team can spend more time meeting your goals.
If you want to get any type of government contract, you must be DCAA compliant. That means making sure you meet the agency’s timekeeping and accounting requirements.
These requirements include keeping track of how your team spends their time through detailed time sheets. Journyx helps make the process of DCAA compliance easier by automating timekeeping so you can pull needed reports at any time.
By maintaining accurate records, you can provide DCAA with the transparency it requires when contracting services. This helps ensure that you get contracted payments on time and may even help you get more government contracts in the future.
It’s important to keep in mind that just using Journyx time tracking software isn’t enough on its own to be compliant with DCAA. You must still follow all the guidelines set by the agency. The more that all members of your team keep timely and accurate records, the better chance you have of keeping your government contract for the long term.
By maintaining accurate records, you can provide DCAA with the transparency it requires when contracting services. This helps ensure that you get contracted payments on time and may even help you get more government contracts in the future.
Journyx’s DCAA compliant timekeeping software integrates with your accounting system, making it easier to analyze finances and break down specific data related to contract accounts, such as direct and indirect costs, billable and nonbillable hours, labor costs, and separate project costs. This drill-down functionality is critical for you to efficiently track and generate the reports that DCAA wants to see during an audit.
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