What accounting system requirements apply to SDVOSB contracts?
Cost-reimbursable contracts require a DCAA-adequate accounting system that can segregate costs by contract, accumulate indirect costs, and produce job-cost reports. DCAA (Defense Contract Audit Agency) audits accounting systems, particularly for defense contracts. Fixed-price contracts do not require a DCAA-adequate system, but sound cost accounting is still essential for profitability. QuickBooks, Unanet, Deltek Costpoint, and similar systems are commonly used by SDVOSB firms.
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