DCAA Compliant Timekeeping Best Practices for Government Contractors
The Federal Acquisition Regulation (FAR) doesn’t provide many details on the specifics related to an adequate timekeeping system. However, the Defense Contract Audit Agency (DCAA) does have some specific requirements they look for when performing accounting system audits and labor floor checks.
In this episode of Cherry Bekaert’s GovCon Podcast, Eric Poppe, a Managing Director in Cherry Bekaert’s Government Contracting Industry practice, is joined by Jeff Annessa, a Senior Manager in the Firm’s GovCon practice who spent 13+ years with DCAA and held various leadership positions such as Quality Manager, Supervisory Auditor and Field Audit Office Manager, and Jacquelin LaClair, a Manager in the Firm’s GovCon practice who spent 10 years working with DCAA and the Defense Contract Management Agency (DCMA). They discuss one of their favorite topics: timekeeping and the government’s expectations. Listen to find out:
- Why contractors should have written timekeeping policies and procedures in place and should consider including all types of work arrangements available by your organization (in-office, remote or hybrid)
- Key elements for an adequate timekeeping system
- Ensuring segregation of responsibilities for labor-related activities
- Total Hours Worked approach and why the government cares
- Policies and procedures that address how direct and indirect time is recorded
- How to handle paper vs. electronic timesheets
- The employee and the supervisor roles in certifying the accuracy of timesheets on a daily, weekly, bi-weekly or monthly basis
- Record retention requirements for timesheets
At the end of the day, would a government auditor be able to review your current timekeeping policies and procedures and compare them to what is currently happening at your organization and find no discrepancies? If you have any questions specific to your situation, we are available to discuss your situation with you.