Joseph Kamara CPA

Each contract type wants a different book structure. Fixed-price tracks revenue against milestones, cost-plus needs full segregation and a DCAA-adequate system, T&M needs rate tables and dual billing logic.

Provisional billing rates let you bill indirect costs before final rates exist. Build them from budget, file before the fiscal year opens, then track them against actuals all year.

Contractors bill the government through three pools: fringe, overhead and G&A. Each uses a different allocation base and carries different audit risk. Getting them wrong inflates every rate you quote.

New contractors repeat the same accounting mistakes every year. Each inflates billings, draws audit findings, or disqualifies the firm from cost-reimbursable work. The seven costliest, and how to fix them.

QuickBooks ships a commercial chart of accounts that fails every DCAA requirement. You need direct costs by contract, indirect pools, and unallowable segregation. The template and the configuration steps.

Any contractor with a flexibly-priced contract files an incurred cost submission within six months of fiscal year end. The required schedules, the mistakes that get it rejected, and the timeline.

DCAA treats timekeeping as the highest-risk area in contractor accounting systems. This guide covers the 8 core requirements, floor check procedures, and how to build a compliant timekeeping system.

The SF 1408 pre-award survey determines whether your accounting system qualifies for cost-type government contracts. This guide covers all 14 evaluation criteria, 5 common failure points, and a preparation checklist.

DOGE has terminated over 10,000 federal contracts. Which agencies are hit hardest, what rights you hold, and the seven protective actions worth taking before yours is on the list.

FAR 31.205 defines what you cannot charge to a federal contract. Miss one category and you expose the firm to questioned costs, penalties and rate adjustments on every open contract.