If you’re a government grantee or contractor and decided to use electronic timesheets, you’ll need to choose a timekeeping software.
When it comes to deciding on the best software to use, there are certain programs that get the job done for government grant and contract accounting.
Some are better than others, and some more expensive. Luckily for you, Jameson has seen nearly everything when it comes to DCAA compliant timesheets, and we’ve done the homework for you.
There are certain features the software must have in order for it to be compliant with the regulations imposed by DCAA. Before reviewing the chart, we just want to state again (as we have in past blogs), timesheets and their application are critical components of a compliant accounting system; the software is only as good and accurate as the employee who is entering the time. It’s important to put in place policies and procedures to hold employees accountable for entering their time properly. Timesheets must become a part of your culture as the discipline of completing them is critical to their actual effectiveness.
Here are the key features your time tracking software should have in order to be DCAA compliant:
If you’re going to have to suffer through the compliance requirement, you might as well get something else out of it. With that being said, here are the most common timesheet applications that allow you be compliant with all of the regulations.
In the end, you’ll need to make a decision with your company’s best interests in mind – with the ultimate goal being to create a compliant accounting system. When you get audited, and you will, you’ll want everything in order. And, if electronic timesheets aren’t for you – perhaps you’re a smaller company or you want to control the actual sign-off, that’s fine too. You can read more on Manual vs. Electronic timesheets here.
Not all government contracts and grants are the same. Your funding agency, type of award, and funding stage require unique accounting requirements. Provide your information below to schedule a time to speak with one of our government funding experts!
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R01, U01, Carb-X, HEAL or Pioneer Grant
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