by Brandon Lee | Sep 17, 2018 | Blog
Why are credit card receipts needed? FAR 31.205-46(a)(7) states that costs are allowable only if the contract maintains specific documentation to support claimed travel costs. Documentation such as cancelled checks, credit card receipts, and hotel bills are to be...
by Brandon Lee | Jul 20, 2018 | Blog
The SF 1034 is the standard form for public voucher for purchases and services other than personal for cost reimbursement. Think of this as your invoice to the government but in the government’s format. The SF 1034 is your cover sheet with dates of service and total...
by Brandon Lee | Apr 18, 2018 | Uncategorized
The Defense Contract Audit Agency (DCAA) and the Defense Contract Management Agency (DCMA) require government contractors to use the Accrual method as opposed to the cash method of accounting, per FAR (48 CFR) 53.209-1(f) SF 1408 Pre-Award Survey of Prospective...
by Brandon Lee | Mar 16, 2018 | Blog
Mike McNew is the CEO of McNew & Associates, Inc. (MAI), located in Colorado Springs, Colorado. MAI is a small business that brings the experience of previous Defense Contract Audit Agency (DCAA) Auditors, Accountants, and Contract Management professionals...
by Brandon Lee | Feb 16, 2018 | Blog
Contractors must develop a Chart of Accounts (COA) that identifies direct and indirect costs separately. Indirect cost accounts must be specifically identifiable into a logical set of indirect account groupings. Direct and indirect costs should be identified through...
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