When a Government Contractor (GovCon) decides to upgrade or completely change the accounting system they use, they have many important considerations to keep in mind to ensure they have a DCAA compliant accounting system. There are many things to consider when selecting a new accounting system and developing an implementation…
Most Government Contractors, though certainly not all, operate using a fiscal year that ends December 31. If that sounds like you, your Incurred Cost Submissions (ICS) deadline is coming fast. (And, if you operate on a different fiscal calendar, then your ICS deadline is 6 months after the end of…
As a Government Contractor, the accuracy of your books is the lifeblood of your business. Your ability to get — and keep — lucrative government contracts is completely dependent on producing accurate forecasts and financial reports, making a rock-solid accounting system crucial to your success. However, what do you do…
The True Cost of Workarounds Spending valuable time performing tasks that an automated system could do can be costly, time consuming, and prone to errors. Workarounds have significant impacts on the quality of both financial and managerial accounting information. Common offline workarounds include: Calculating indirect rates Budgeting Billing Job costing…
When it comes to federal contracts, budgeting and forecasting are two sides of the same coin. Government contractors should forecast expenditures, create a budget, and ultimately execute the project while meeting that budget. The question for many contractors lies in how to do so. Like nearly all things in business…
When it comes to closing the year in your accounting system, it should go without saying that accuracy is everything. Although Government Contractors should target accuracy all year long, at any given time throughout the year, leadership may need a forecast to get a feel for trends and make business…
By failing to prepare, you are preparing to fail. The adage rings as true now as ever, especially for government contractors preparing for an audit. DCAA compliance can make or break a Government Contractor’s success, which makes failing to prepare for your upcoming audit akin to walking into a job…
The words “walk in the park” are not usually closely aligned with DCAA audits. In fact, most government contracting CFOs facing an upcoming audit may want a walk in the park to calm their nerves. DCAA audits do not have to be a source of stress. When armed with crucial…
The WiJiT team prides itself on fostering a friendly and open approach both within our organization and with clients. But don’t let our warmth fool you: We also mean business and we have a long history of demonstrated integrity in support of our clients.
We do a thorough job at a fair price, but we never cut corners. In all interactions, we strive to bring reliability, success, alignment and the best possible fit to meet our clients’ needs — on track, on schedule, and on budget.
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