In preparation to become a prime contractor, your business faces compliance requirements with the Cost Accounting Standards (CAS) and Federal Acquisition Regulations (FAR). The federal government generally requires a pre-award survey to evaluate an accounting system’s ability to conduct cost-based invoicing using segregated direct and indirect costs. Government contractors need a comprehensive accounting solution that can help you stay compliant with these complex federal requirements.
NeoSystems offers Deltek First Essentials, the government contracting industry’s leading solution for accounting compliance. Deltek First keeps small and midsized businesses in compliance with the components that government auditors, particularly those at the Defense Contract Audit Agency (DCAA), look for. We not only lead implementation and training on best practices, our Managed Accounting Services shoulder the burden of compliance by managing your daily accounting operations using our own licenses. Your company avoids the capital investments of the software and IT infrastructure required to maintain Deltek First.
Accounting Solutions with Deltek First
NeoSystems designs a custom solutions that enable your business to:
- Properly segregate direct costs from indirect costs
- Identify and accumulate costs by contract
- Implement a logical, consistent method for allocating indirect costs to intermediate and final cost objectives
- Accumulate costs under general ledger control
- Identify employee labor by intermediate or final cost objectives
- Distribute indirect and direct labor charges to appropriate cost objectives
- Determine costs charged to a contract through routine posting of books of account
- Exclude unallowable costs from government invoices
- Identify costs by contract line item
- Segregate preproduction costs from production costs as required by some contracts
- Track contract profitability using Job Status Reports (JSRs)
NeoSystems, a Deltek Premier Partner, not only resells Deltek First Essentials, but also leads implementations and training on best practices.
Don’t have the in-house expertise to run a compliant back office? Our Managed Accounting Services shoulder the burden of compliance by managing your daily accounting operations using our own Deltek First licenses. Your company avoids the capital investments of the software and IT infrastructure required to maintain Deltek First.