DCAA Audits are significant events but not necessarily a cause for concern. Some audits, such as the Pre-Award Audit, are positive indicators, because it indicates that the contractor is in contention for a contract. There are three major types of DCAA audits you should prepare for: Pre-Award Audit: A sign that you’re in contention for […]
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 have […]
WrkPlan’s fully integrated, all-in-one ERP platform makes it easy to manage the accounting and financial aspects of federal government contracting. This is possible because our system includes all the necessary components, which are synchronized and in communication with each other. Consider your labor distribution and the associated cost accounting. In WrkPlan, setting up contracts and […]
This is the second part of the “Advantages of WrkPlan’s Fully Integrated System” series. Click this link to read the first article, if you haven’t already done so. WrkPlan’s fully integrated, all-in-one ERP platform makes it easy to manage the accounting and financial aspects of federal government contracting. This is possible because our system includes […]
This is the third part of the “Advantages of WrkPlan’s Fully Integrated System” series. Click these links to read the first article or the second article, if you haven’t already done so. WrkPlan’s fully integrated, all-in-one ERP platform makes it easy to manage the accounting and financial aspects of federal government contracting. This is possible […]
This is the fourth part of the “Advantages of WrkPlan’s Fully Integrated System” series. Click here to start from Part I. WrkPlan’s fully integrated, all-in-one ERP platform makes it easy to manage the accounting and financial aspects of federal government contracting. This is possible because our system includes all the necessary components, which are synchronized […]
This is the fifth part of the “Advantages of WrkPlan’s Fully Integrated System” series. You can start from the top of the series by clicking this link: https://www.wrkplan.com/blog/advantages-of-wrkplans-fully-integrated-system WrkPlan’s fully integrated, all-in-one ERP platform makes it easy to manage the accounting and financial aspects of federal government contracting. This is possible because our system includes […]
