10 Easy Steps

for DCAA Compliant QuickBooks Online

Step-by-step instruction with screen shots to show you how to configure your QuickBooks Online to be DCAA compliant

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Step 1: Chart of Accounts

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Step 2: Contract Setup

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Step 3: Item Setup

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Step 4: Contract Funding and Backlog

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Step 5: Timekeeping

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Step 6: Labor Distribution

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Step 7: Indirect Rate Calculation

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Step 8: Invoicing

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Step 9: Month-end Close

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Step 10: Accounting Policies and Procedures

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For Start-ups

The 10 Easy Steps do not require any additional software other than the QuickBooks Online Essentials version. The upgraded versions of QuickBooks Online (Plus and Advanced) are not required but may be useful for larger companies. (See an article that discusses the different versions of QuickBooks Online here). Start-ups can "get started" with 10 Easy Steps and pass a DCAA audit by following my recommendations and using my excel templates where needed.

For Larger Companies

For larger companies, additional add-on software is useful. An online DCAA-compliant timekeeping system that is fully integrated with QuickBooks Online would be the first upgrade I recommend. Fortunately, QuickBooks Time is DCAA-compliant and is already fully integrated with QuickBooks Online. There are many other online timekeeping systems that will work as well. I can provide consulting and implementation services to assist you with your timekeeping setup.

GovBooks

To achieve greater scale and efficiency, I have developed an add-on software to QuickBooks Online. GovBooks is a cost-effective online application (starting at $100 per month) that replaces and automates DCAA requirements that would otherwise be performed with spreadsheets. GovBooks calculates your indirect rates, creates the labor distribution, tracks contract backlog, and generates project reports, with user-level roles and permissions to extend the capabilities of QuickBooks Online. GovBooks helps government contractors pass DCAA audits, maximize profits, and capture more federal contracts.