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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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GovCons: Are You an Inch Deep and a Mile Wide?

Often times, you will see companies in the government contracting space that list a large array of NAICS codes under which they are qualified to perform services or sell products.

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Inter-company Transactions – Know the FAR and IRS Rules that Govern these Transactions

A word of advice - be sure you know the rules promulgated by the Federal Acquisition Regulations and Cost Accounting Standards (CAS) when you are a government contractor that conducts transactions between related companies.

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Key Financial Indicators -- Your Business's EKG

Is your company financially healthy? Just as an EKG measures your heart's performance, indicating overall health, key financial indicators measure your company's financial well being. These indicators are tools that allow you to summarize your most important financial areas so you can understand how money moves in and...

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Project Cost Accounting Software Gets the Job Done

If you are currently winning government contracts or would like to start getting awarded government contracts, project cost accounting software is an indispensable tool in succeeding. Government contracts are often flexibly-priced, cost-reimbursable contracts for example.

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Hiring Tip – Past experience with your brand of accounting software should not be a prerequisite when adding new staff

A frequent request we receive from our clients is for assistance in filling an open accounting position with the requirement that the potential staff member must have significant prior experience with our software brand. After years of being in this business and seeing it first hand, a common misconception among...

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Bid Protest: What is involved and should you go through with it?

If one contractor has secured a government contract, another can still derail the process by filing a formal bid protest, thus resulting in a long delay while the case for the protest gets resolved. When this happens, the competitor alleges that something was amiss in the original selection process and asks for a review...

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DCAA Unallowable and Allowable Costs

Entering into a contract with a government entity presents a range of complex regulations that can be challenging to navigate and may lead to costly penalties. Such is the case when entering into a work agreement with the Department of Defense that leads to heightened scrutiny by the Defense Contract Audit Agency...

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For Government Contractors, your HR Manager is a Critical Position

One of the most valuable members of your team is probably not who you think it might be. You might be thinking it is your CEO, CFO, or COO? That could be, but as much as any other individual in your organization, a superior HR manager can help make or break your organization. Here is why this position is so critical to...

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