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Emerging Government Contractors: Are you in it for the long run?

I often have conversations with small, aspiring government contractors who tell me that they cannot afford a job order accounting software package specifically designed the industry in which they conduct business. They are often in pursuit of their very first cost reimbursable contract where DCAA compliance is a...

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What to Expect When Buying Another Company That Happens to be a Contractor

Speaking from personal experience, the process of going through with a business acquisition as a seller or a buyer is never easy. An acquisition involving two government contractors can be especially tricky. Use these guidelines to make your transaction less complicated and less stressful.

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The Benefits of Cloud Hosted Accounting Software

Cloud Hosted Accounting Software

Accounting software systems utilizing the Software as a Service (SaaS) delivery model have transformed business processes across many industries, including healthcare, customer service and government contracting. SaaS is a model where a provider hosts application software "in the...

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Your Internal Controls: Speed Bumps, Guardrails and Stop Signs

Several years ago, I asked a co-worker about what he understood about financial internal controls.  He looked at me for a moment and then provided a few internal control metaphors that spoke to driver safety.

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What is an Indirect Rate?

For those of you who are new to government contracting, and in particular cost reimbursable government contracting, the jargon can sound as strange as an unfamiliar foreign language.

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Tips for Reducing Audit Costs

Is your business seeking ways to reduce expenses? Use these tips to save money by reducing audit costs.

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What is a Wrap Rate?

For many companies who have the federal government as a customer, a key business statistic is the “wrap rate”.

A wrap rate is normally attributed to the pricing of the labor component of a contractor’s revenue model. The wrap rate provides a shortcut method of determining the cost of a unit of labor before profit is...

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Trust but Verify - Double Check Your ERP/Financial Software Output

Sophisticated and seasoned accounting software users understand the need to verify key calculations generated by their automated accounting software. Those users who do not could eventually end up wishing that they had before a crisis arose.

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Tips to Get Past the Flashy User Interface: Things to Consider with Project Cost Accounting Software

Flashy accounting software may be visually appealing, but for government contractors it's far more important that your software be comprehensive and compliant. When it comes to managing your company's finances correctly and efficiently, your accounting software can make or break you. It can mean the difference between a...

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Batch Versus Real-Time Accounting--Which is Right for You?

In accounting software design, there are two primary methods with respect to how systems should operate. There is batch-based entry and there is real-time entry. This article will provide a synopsis of each method and suggest the one that is most suitable for companies that contract with the government.

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