laptop location clock calendar
UH Bauer Procurement Technical Assistance Center

Govology: Setting up Your QuickBooks Pro for DCAA Compliance (3-Part Series)

Sep
6
2022
Tue 12:00 PM to 1:30 PM
Topic: Government Contracting

READ BEFORE REGISTRATION

This workshop requires you first to register with the UH PTAC by selecting the "Register Online" link below. After you have completed the UH PTAC registration, YOU MUST select the "Continue" link and you will be taken to the Govology website. On the Govology website select the "Buy now" link to complete the registration process. If you are an existing UH PTAC client, enter your coupon code during the Govology registration and the training is free for you to attend.

YOUR REGISTRATION TO ATTEND THE WEBINAR IS NOT COMPLETE UNTIL BOTH THE UH PTAC AND GOVOLOGY REGISTRATIONS ARE COMPLETED.

If you are a current client of the UH PTAC, when you register for the webinar please use the email address we currently have on file. If you do not know the email you have on file with us, please email uhptac@uh.edu and we will confirm your email address.

If you have a new email address, please let us know and we will update your record with us.

Please do not register for the webinar using your new email address until you have informed us of the new email address and we have updated your record.

Thank you!

In this three-day series, Jenny Clark (Solvability) will discuss the requirements for a DCAA-compliant accounting system, starting with the form SF1408 Pre-Award Survey. You will learn what it takes to become DCAA-compliant and how to pass a DCAA Pre-Award Survey SF-1408.

Specifically, Part 1 will cover:

  • The elements of a DCAA-compliant timesheet and labor distribution system.
  • Cost accounting requirements based on accrual methods.
  • Direct, indirect, and unallowable costs.
  • Contract types and billing requirements.

In Part 2, we will focus on your direct and indirect costs and what goes into Fringe, Overhead, and G&A expenses. You will also learn how your indirect rates used for bidding are calculated based on your actual income statement.

Specifically, Part 2 will cover:

  • How your costs affect your pricing.
  • Pricing strategies to scale your business and compete at a higher level.
  • Mulitplier and wrap rate strategies based on your company performance and forecast.

In Part 3, you will learn how to set up these elements in the QuickBooks Pro desktop (QuickBooks ONLINE is NOT an acceptable alternative.)

You will learn about all the hidden settings and specific practices to make QuickBooks Pro desktop work for you as a federal contractor. We’ll show you how to structure your Chart of Accounts for direct costs, Fringe, Overhead, G&A, and unallowable expenses. We’ll also show you how to set up your customers, including job settings to report by contract and best practices for processing employee and vendor transactions so that you can easily create billings and calculate indirect rates from your Profit and Loss.

Specifically, Part 3 will cover the following:

  • Settings you need in QuickBooks Pro to pass a DCAA PreAward Survey SF1408.
  • Best practices for integrating timesheets, payroll, and billing.
  • Tracking and forecasting your indirect rates for Fringe, Overhead, and G&A expenses using your correctly structured QuickBooks Pro Profit and Loss.

Target Audience: Small business owners in federal contracting focused on providing staffing services billed by labor categories and hours reporting. Accounting personnel responsible for processing timesheets, payroll, accounts payable, and producing billing and reporting for federal contractors.

Speaker(s): JENNY W CLARK, Solvability


Fee: $ 75.00

FREE for UH PTAC clients after you enter the coupon code. Click "Continue" after you complete the UH PTAC registration to go to the Govology website to complete your registration.