Redstone Government Consulting Blog | Redstone Team (4)

I talk with business owners all the time that are either just starting their business, or just getting their existing business into government contracting, and one of the questions we address almost weekly is – Which accounting software built for government contractors should I go with? The answer is, maybe none of them. While the popular govcon accounting software solutions are a really good option for many government contractors, you certainly aren’t limited to those. If you’re a relatively small government contractor, then other products such as QuickBooks might be a better software solution.

Merry Christmas and Happy New Year from all of us at Redstone GCI

A special thanks to our charitable committee members for 2021 and to all of the organizations we've supported for their efforts in making the world a better place for everyone.

On October 4, 2021, the Department of Health and Human Services (HHS) proposed an amendment to its Federal Acquisition Regulation (FAR) Supplement to support the HHS Electronic Invoicing Implementation Project and HHS’s transition to the Department of the Treasury’s Invoice Processing Platform. This rule would add HHS Acquisition Regulation (HHSAR) Subpart 332.70 (which is comprised of HHSAR 332.7000 through 332.7003) Electronic Submission and Processing of Payment Requests to provide policies and procedures for these requests.

Source: Deltek blog

A full DCAA Business System Audit can be the longest and one of the most difficult audits a government contractor can experience. To provide some perspective, at a recent audit of one of our clients, DCAA sent 15 auditors to perform the audit. In general, our experience is that these audits take 12 months to over 18 months for DCAA to perform.

In our last newsletter, we focused on some of the unnecessary obstacles small businesses face in the regulatory environment and areas where, in our opinion, Government auditors, particularly DCAA, misinterpret regulatory guidance in their efforts to question costs.

This is the second of a two-part blog series where we tackle small business joint ventures and the SBA Mentor-Protégé Program. In this blog, we will discuss small business joint ventures and how a government contractor can get involved in one.

Every month our team’s charity committee comes up with clever ideas centered around a truly important part of our organization: giving back to the community. In this month’s installment, they took it to the next level with the so called, "One Chip Challenge."

This is the first of a two-part blog series where we will tackle small business joint ventures and the SBA Mentor-Protégé Program. In this blog, we will discuss the SBA Mentor-Protégé Program.

As we approach the third quarter of the year, now is a good time to review your payroll setup and wages for accuracy. I often find that whether the client is a seasoned payroll processor, or new to Costpoint and payroll in general, there can be errors in wages that are not obvious in day-to-day processing. There are numerous actions you can take to prepare for a smooth year end. For example, start by ordering forms early in the last quarter of the year. Many sources for W2s, 1099s, ACA forms, etc. will sell out in January. Also, be sure to register for access to the Social Security Administration for W2 upload since this process can be time consuming waiting on the access codes to be snail mailed.