DCAA Compliance: Time & Attendance Tracking Made Easy | Timerack
November 26, 2019
In Case You Missed It: Learn how to stay up to par with FAR standards with DCAA compliant time tracking software
If there’s one bit of record-keeping you’re expected to get precisely, exactly, i-dotted, t-crossed, perfectly right as a government contractor – it’s all of it.
The Defense Contract Audit Agency (DCAA), the agency charged with auditing Department of Defense contracts, has strict policies for government contractors that can lead to a failed audit for a single area of non-compliance.
There are as many ways to make a mistake as there are rules and regulations, and keeping up with them has spawned a whole industry of consultants and facilitators. Timekeeping is subject to in-person timesheet audits by DCAA auditors as part of the overall accounting system audit. Timerack time and attendance solutions can ease the burden.
DCAA Timekeeping Requirements
The DCAA has established numerous criteria for timekeeping systems and practices, including:
- A timekeeping policy documenting all policies and procedures must be provided to all employees
- Time must be charged by day and by project and/or indirect accounts
- Password protection must be required for electronic timekeeping and passwords should be changed at least every 6 months
- An audit trail must document all transactions, including a complete record of corrections
- Time sheets and corrections have to be maintained for at least two years
In addition, time has to be accounted for by employee, by project name or job code and indirect accounts, reconciled at least monthly.
There are additional record retention requirements for project records. For a complete list of requirements, you can visit the DCAA website. But wouldn’t it be nice if your time and attendance software did it for you?
Need Software That Is DCAA Compliant?
Among other aspects of the agency’s process for determining whether a prospective contractor is compliant is a pre-award survey which asks: Can your timekeeping system identify employees’ labor by intermediate or final cost objectives?
If you answered no, then you might have a problem.
At Timerack, our powerful time and attendance solution is fully compliant with DCAA regulations – and has been since the beginning. That’s a burden we take off the shoulders of our clients who do work with the Department of Defense and it’s an edge for those who want the option. Timerack provides cost-effective time and attendance solutions that provide all of the tracking, reporting and cost-control capabilities that the government requires in a streamlined system that saves time and reduces the risk of liability for errors or non-compliance.
Government projects aren’t limited to the office, so your time and attendance system shouldn’t be either. At Timerack, our system goes where your employees go, with a mobile application that provides accurate and secure workforce management in the field. No matter where your government contract takes you, you’ve got an accurate record of time and attendance.
Geofencing makes it even easier to track time and attendance with a remote workforce by incorporating GPS technology that ensures that employees clock in or out from within a set distance of the worksite.
Compliance Doesn’t Have to Be Complicated
At Timerack, our solutions are designed to make it easier to manage all of your time and attendance needs, no matter what regulatory requirements you must navigate. We have a wide array of solutions designed to make time and attendance tracking do more with less effort. Find out how our DCAA compliant time and attendance solutions can work for you.