FAR Final Rule: Small Business Opportunities Overseas – Don't Pack Your Bags Yet


DoD issued a final rule on April 26, 2022, amending the FAR to support the Small Business Administration regulation of including overseas contracts in agency small business contracting goals. The final rule is effective May 26, 2022.

Read More

Topics: Proposal Cost Volume Development & Pricing, Small Business Compliance, Contracts and Subcontracts Administration, DFARS Business Systems

What is Schedule I in the Incurred Cost Submission?

Schedule I is the most important part of the Incurred Cost Submission and is the single area of great interest for the Government and its auditors. This VLOG will briefly explain the Incurred Cost Submission, the importance of Schedule I, and how to resolve potential issues.

Read More

Topics: Incurred Cost Proposal Submission (ICP/ICE), Small Business Compliance, Contracts and Subcontracts Administration, Vlog

Understanding the Differences Between Purchase Orders and Subcontracts


There seems to be a lot of questions and misconceptions about purchase orders and subcontracts. Is there a difference? When is it appropriate to issue either instrument?

Read More

Topics: Small Business Compliance, Contracts and Subcontracts Administration, Contractor Purchasing System Review (CPSR)

The Mentor-Protégé JVs – A Sea-Change in Government Contracts


Below is a novel thought, uttered in 1911 by the President of Columbia University, that may be equally true today:

I weigh my words when I say that in my judgment the limited liability corporation is the greatest single discovery of modern times. Even steam to electricity are far less important that the limited liability corporation, and they would be reduced to comparative impotence without it.[1]

[1]   Corporate Law & Practice (Practicing Law Institute, 2nd Ed. 1999) at p. 11.

Read More

Topics: Small Business Compliance, Contracts and Subcontracts Administration, Government Regulations

DCAA Approved Accounting System: QuickBooks Online vs. QuickBooks Desktop


In my last blog post, I discussed whether you could have a DCAA Approved Accounting System with QuickBooks. If you read it, then you know the answer is definitely – yes. This begs the next question though: QuickBooks Online (QBO) or QuickBooks Desktop? One might think that they’re essentially the same with one just being a cloud version and the other a local install. That could not be further from the truth. The two products are actually very different in terms of functionality and capabilities. A couple of years ago, I would have told you that QBO was just not an option for a government contractor. Appropriate job costing just couldn’t be done. In recent years though, Intuit has focused a lot of their internal development on QBO, and the product has come a long way. In this article we’ll go over some of the key differences between the two QB options, and hopefully help you decide which is right for you. Note that this is NOT a fully comprehensive comparison of all the different features, but rather a focus on some of the primary differences that are most relevant for government contractors.

Read More

Topics: Compliant Accounting Infrastructure, Small Business Compliance, Quickbooks

Software Options for a DCAA Approved Accounting System


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.

Read More

Topics: Compliant Accounting Infrastructure, Small Business Compliance, Quickbooks

What's New with Paycheck Protection Program (PPP) Forgiveness


DCAA issued some guidance on PPP forgiveness treatment in the form of frequently asked questions (FAQs) to its auditors. The FAQs were not front and center on DCAA’s website but search on “PPP” did find them at: COVID FAQ for PWS 07142021 (dcaa.mil).

Read More

Topics: Compliant Accounting Infrastructure, Incurred Cost Proposal Submission (ICP/ICE), Small Business Compliance, Contracts and Subcontracts Administration, DCAA Audit Support, Defense Procurement and Acquisition Policy (DPAP), Government Regulations, COVID-19, Paycheck Protection Program (PPP) Loans, Federal Acquisition Regulation (FAR)

New DCAA Low for Taking Advantage of Small Businesses

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.

Read More

Topics: Small Business Compliance, Paycheck Protection Program (PPP) Loans

Small Business Joint Ventures for Government Contractors

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.

Read More

Topics: Small Business Compliance, Government Regulations

What is the Small Business Administration (SBA) Mentor-Protégé Program?

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.

Read More

Topics: Small Business Compliance, Government Regulations