Outsourced Accounting Solutions Save Government Contractors Time

The implementation of stringent https://www.bookstime.com/ controls and DCAA compliant systems have focused on creating efficient, cost-effective systems that ensure accuracy, timely and reliable financial reporting. GLOBAL’s comprehension of government contracting and construction operations, technology and accounting uniquely positions our clients for success regardless of the challenge. Even if the company has no contractual obligation to submit provisional and final indirect rates, they are essential for pricing and overall management of a business operating in the government contracting industry. We work with GovCons to maintain accounting system insight and document operational procedures. BOOST makes sure that your government contract organization has the information you need readily available to make fast, informed business decisions.

They fully understand Federal Acquisition Regulation , Cost Accounting Standards , OMB Uniform Guidance and other requirements. The McKelvey Group has been providing successful outsourced accounting solutions to Government contracting clients for over 25 years. GovCon accounting is in our blood and has been since the founding of the company.

SERVICES

We design and implement outsourced bookkeeping services accounting systems, complete with the specialized third party plugins. As part of our government contract accounting assessment, we also identify items for remediation and the recommended process for correction.

• If contractors calculate their internal costs on meeting all the accounting requirements and having the appropriate infrastructure in place, they will find an outsourced solution is very competitively priced.
• A professional accountant doesn’t just help you maintain the status quo by keeping your books up to date.
• We help select the right one, set it up and make integrate with your accounting system as per the DCAA guidelines.
• Utilizing our financial experience in M&A transactions, we can advise both the seller and buyer sides, just not on the same M&A.
• Let Daston’s team members who are exclusively focused on servicing Federal government contractors help.

BOOST’s suite of services combines to be the ultimate powerplay for any government contractor looking to win more contracts. BOOST also offers advisory services for areas like cost accounting standards disclosure, banking relationships, special short-term cash forecasting and reporting, and more. The outsourcing agreement should not be longer than a year and allow for cancellation for failure to meet the terms. The scope of work should include training and documentation which is owned by the contractor, not the outsourcing company. Finally, the software and tools should be owned or transferrable directly to the contractor.

ROSE FaaS Solution + PROCAS

From managing the full grant cycle , the GLOBAL team provides its clients with ongoing support and guidance. If you are looking to outsource your entire accounting function, we can provide a full-service bookkeeping model where we handle all aspects of accounting from top to bottom. Under this model, we combine our high-level expertise with our experience with transactional processing to ease the burden of running your business. We utilize our best-in-class software offerings, technical accounting skills, and our commitment to serving the needs of our clients to build an accounting function that can scale alongside the business. For larger companies that already have an accounting staff, our experts can train your current accountant or bookkeeper to perform the basic bookkeeping functions . This process can take months in most cases, and involves reviewing the books, cleaning up any erroneous journal entries, discussing errors and solutions.

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How can we be of service?

From the Wide Area Work Flow system for government contractors to AIA billing for construction companies, GLOBAL’s accountants have the expertise to efficiently manage these invoicing processes. Our clients’ invoices are submitted timely and accurately each month so that cash flow is never interrupted. For some small companies, business owners are comfortable maintaining their own books. But for government contractors, a professional accountant that specializes in government regulations is a must.

• We help you find ways to use your company’s financial information to grow and thrive, rather than simply putting the numbers into a spreadsheet.
• We can help you with outsourced accounting, controllership and business advisory tasks.
• During the kick-off call, our team schedules routine milestone calls to identify the next steps and allow for Q&A.
• So, when you work with us, we’ll evaluate your existing accounting setup and modify it to meet the reporting standards for of U.S. government contractors.
• We provide organizations with assistance in the areas of strategic and business planning, program development, organizational assessment.

We provide traditional audit, review, compilation and corporate tax services and often handle the business owner’s personal income tax return. Our team approach ensures we deliver comprehensive services to our clients. Our industry experts can thoroughly manage any or all aspects of your finances. BOOST’s managed accounting services for government contractors aren’t the only reason why our clients are so successful.