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DCAA Requirements

Very few commercially available cost accounting systems provide true compliance with the DCAA's stringent requirements for government contractors. S2 Project Accounting™ module, S2 e-Timesheet™ for SAGE 100 are among those very few that can lay claim to that qualification.

With an eye toward giving the government contractors the tools they need to operate successfully in the market they serve, S2 raises the bar, including GSA Schedule and Non- Schedule Revenue Recognition. This allows users to record, post and report contract revenue in multiple revenue buckets. They can easily separate their GSA Schedule Revenue and non –Schedule Revenue from other contract revenue items with the simple click of a button, thereby saving countless hours and other associated costs in preparing for GSA & DCAA audits.

Reports and the audit trail


Both S2 Project Accounting™ module and S2 e-Timesheet™ meet all of the cost accounting guidelines specified on Standard Form 1408:

  • Accumulation of actual direct costs by labor category and job
  • Accumulation of costs under General Ledger Control
  • Bid & Proposal and Independent Research & Development Treatment
  • Calculation of multiple indirect rates per job or task
  • Identification and accumulation of direct costs by contracts
  • Inception-to-date job or task detail
  • Indirect cost accumulation and allocation using provisional, budgeted, or actual burden rates
  • Labor distribution system that charges direct and indirect labor to the appropriate cost objectives
  • Proper segregation of direct costs and from indirect costs
  • Segregation of preproduction costs and production costs
  • Time-keeping system that identifies employees’ labor by intermediate or final cost objectives
  • Tracking and segregation of unallowable costs
  • Tracking of employee labor by intermediate or final contract objectives & Uncompensated overtime


DCAA Standard Form 1408 for S2 Project Accounting (PDF 190 kb)
 
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