Category: Blog

For government contractors, managing multiple contracts at once can be overwhelming. Whether you’re dealing with Cost Plus Fixed Fee (CPFF), Time & Materials (T&M), or Fixed Price (FP) contracts, keeping track of costs, revenue, and project timelines requires precision and efficiency. For many contractors, juggling different contracts means dealing with complex billing structures, cost allocations, […]

One of the most commonly used accounting systems among small businesses is QuickBooks. This is due to its accessibility, affordability, and user-friendly interface. But is QuickBooks enough to meet the stringent requirements of DCAA compliance? Let’s explore how QuickBooks can be used to achieve DCAA compliance, where it falls short, and why WrkPlan offers a […]

The Department of Labor has issued new Service Contract Act (SCA) health and welfare (H&W) rates. Effective July 7, 2025, the prevailing H&W fringe benefits rise from a rate of $5.36 per hour to $5.55 per hour. If a contractor is obligated to comply with Executive Order (EO) 13706 sick leave requirements, the rates increase […]

QuickBooks is an excellent accounting tool for contractors at the early stages of growth. However, as these companies grow and diversify their contracting, they run into QuickBooks’ limitations.  QuickBooks users regularly face challenges when generating Time & Materials (T&M) invoices.   QuickBooks is not designed for cost accounting or man-hour cost allocation, so it doesn’t […]

There are only three weeks left in the federal government’s 2025 fiscal year. If you’re a government contractor, you’re either rushing to get your last-minute orders in or you’re planning for the 2026 fiscal year. If you’re looking to upgrade your management and accounting infrastructure, here are some key pathways and timelines for you to […]

To bid and support government contracts with T&M or cost-plus billing, you’ll need an ERP system like WrkPlan, which comes with a built-in time and expense reporting system.  Whether your company has five employees or 500, WrkPlan is a system that should already be at the top of your short list. If you’re evaluating ERPs […]

The new federal fiscal year is starting off with turbulence and uncertainty; however, it’s still crucial for government contractors to remain vigilant as it pertains to meeting compliance requirements.   Steer clear of manual processes or patchwork systems that will drain time, money, and energy.  Instead, redirect limited resources to activities that drive growth.   […]

When the federal government shuts down due to a lapse in funding, the ripple effects spread far beyond Washington. Government contractors often find themselves caught in a web of uncertainty, stalled projects, delayed payments, and anxious employees. The 2025 shutdown has already led to widespread furloughs and temporary program halts across multiple agencies – serving […]

When preparing a bid for a particular contract, government contractors include a forecast of the direct cost for executing that contract, as well as an allocation of anticipated indirect costs.     Indirect costs are business expenses that are not directly attributable to a particular contract. Examples include rent, property taxes, executive salaries, fringe benefits, […]

Government contractors need to be familiar with the different types of contracts and the differences between them. This primer was written to help contractors to develop a foundational knowledge of government contracts, as well as the challenges and opportunities for each contract type. ‍ Why contract type matters Risk allocation: Who bears the risk of […]