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This webinar covers the fundamentals of Federal Contract Cost Accounting as it applies to QuickBooks. We demonstrate how QuickBooks should be configured to accommodate these cost principles so as to pass a DCAA Accounting System Review. This webinar goes beyond the limits of QuickBooks, however, because QuickBooks by itself cannot handle some of the required elements necessary for a compliant system. Consequently, we will discuss policies and procedures related to topics such as indirect cost allocation, time keeping, and allowability of costs. We will also show alternative ways how indirect rates can be computed and indirect costs can be allocated to final cost objectives, using add-on systems.

Topics will include:  

• Organizing the Chart of Accounts into Cost Pools
• Job Costing
• Timekeeping and Labor Distribution
• Creating a Customized Report for Labor Distribution
• Fully Loaded Job Cost Reporting
• Managing Unallowable Costs  

This webinar is 30-minutes in length.

Presenter: Sarah Glass, President, AimSourcing, Inc.

AimSourcing offers over 25 years of experience in outsourced accounting and information management services.  They provide consulting and outsourced services in all areas of accounting, HR, tax, and information systems and specialize in project accounting systems and federal government contracting.  They have offices in Austin, TX and New Hamphshire.