Managing Time for DCAA Compliance

Post by Veronica Eyenga, contributing Women On Business writer

DCAA requires that a contractors’ timekeeping process, collectively including policies, manual procedures and tools be compliant. To be compliant, the software must allow:

Employees to charge time to authorized, open projects
Employee to access time through a secure password
Employee to records viewable and auditable comments for any timesheet change
Supervisors to approve the entire timesheet
All time must be reported (total time accounting)
Administrators monitor delinquent timesheets

While the DCAA does not endorse any one software for this daunting task, it is up to the contractor to ensure that the system they use meet the minimum stated features.

All in all, timekeeping is important because the information generated from them is used for payroll, billing, project planning, cost accounting and pricing purposes. Efficient timekeeping can maximize revenue by minimizing disallowed or disputed charges, and accurate data can save companies a fortune in misreported cost information.

Susan Gunelius

Susan Gunelius is the Founder and Editor-in-Chief of Women on Business. She is a 30-year veteran of the marketing field and has authored a dozen books about marketing, branding, and social media, including the highly popular Ultimate Guide to Email Marketing, 30-Minute Social Media Marketing, Content Marketing for Dummies, Blogging All-in-One for Dummies and Kick-ass Copywriting in 10 Easy Steps. Susan’s marketing-related content can be found on Entrepreneur.com, Forbes.com, MSNBC.com, BusinessWeek.com, and more. Susan is President & CEO of KeySplash Creative, Inc., a marketing communications company. She has worked in corporate marketing roles and through client relationships with AT&T, HSBC, Citibank, Intuit, The New York Times, Cox Communications, and many more large and small companies around the world. Susan also speaks about marketing, branding and social media at events around the world and is frequently interviewed by television, online, radio, and print media organizations about these topics. She holds an MBA in Management and Strategy and a Bachelor of Science degree in Marketing and is a Certified Professional Career Coach (CPCC).