Accounting Services for GovCons

Experts in DCAA-Compliant Managed Accounting Services, System Implementations, and CFO Services for Government Contractors

Accounting Services for GovCons at BOOST

In government contracting, it is not enough to deliver on your contracts. For government contractors, failure to comply with government accounting regulations by not having a DCAA-compliant accounting system can have disastrous consequences. GovCon accounting systems are different than commercial accounting systems. You need a firm that can deliver DCAA-compliant managed accounting services.

DCAA-Compliant Managed Accounting Services for Government Contractors

BOOST’s Accounting Services for GovCons

BOOST offers a wide variety of managed accounting services for government contractors, including senior-level financial consulting, CFO Support, DCAA-compliant accounting systems setups and assessments, and monthly ongoing outsourced accounting services that save your business time and money. Out managed accounting services for government contractors combines with our other areas of expertise and service, such as being able to handle surge staffing with our recruiting, evaluate contract mods with our contracts ream, and prepare pricing volumes with our strategic pricing team. 

BOOST’s Specialized Accounting Services for GovCons

BOOST’s CFOs have years of expertise that allow them to quickly identify areas of improvement and streamlining. We prepare indirect rate budgets, set up cost pools, evaluate pricing strategies for bidding purposes, work with lending institutions for working capital, work with CPAs on tax strategies and oversee cash management. We can provide both project-based and ongoing support.

Monthly Ongoing Accounting Services for GovCons

Monthly Ongoing Accounting Services

BOOST’s monthly ongoing managed accounting services for government contractors includes accounts payable and accounts receivable, invoice preparation, and timesheet administration. BOOST also offers government contracting payroll administration, utilizing our payroll specialist and third-party payroll vendors. Our ongoing accounting services will save you time and money, allowing you to focus on winning contracts.

Monthly Ongoing Accounting Reports

BOOST’s managed accounting services for government contractors come with monthly accounting reports. Our pipeline reports make your data work for you so that you can better understand your ongoing deals and future sales. BOOST also provides government contractors with high-quality financial reporting for income statements, balance sheets, and cash flow in an easy-to-understand dashboard model that gives CEOs real-time information to make informed decisions.

Senior-Level Financial Consulting for GovCons

BOOST’s senior-level financial consulting and CFO support in government contracting offers industry-standard budget analysis and forecasting, financial analysis, and indirect rate structure development. In addition to consulting in these areas, BOOST also offers consulting in accounting areas specific to government contractors.

Financial Consulting for Government Contractors

BOOST offers financial consulting for government contractors with consulting for DCAA compliance requirements and audit support, incurred cost submission, and mergers and acquisition preparation. These financial needs are central to government contracting, and BOOST only deals in government contracting.

BOOST also offers custom accounting consulting services for areas like banking relationships, special short-term projects, and more. Save time and money by contacting our managed accounting services team today.

BOOST’s Accounting Services Goals for Our Clients

At BOOST, our goal is to help you grow and scale your company. You do this by winning new work, hiring the talent you need, and remaining competitive. Our managed accounting services for government contractors ensure that you will have DCAA-compliant accounting systems that are functional and streamlined. You’ll have financial reports and policies that guide your company through the competitive world of government contracting as well as documented operating procedures that help solidify decision-making to save time and money. BOOST provides an industry-defining level of data transparency that will allow your company to be as agile as possible to win more contracts. Contact us to start winning more contracts.

A Complete Government Contracting Package

BOOST’s managed accounting services for government contractors aren’t the only reason why our clients are so successful. Our clients win more contracts through a combination of our contracts services for GovCons and our strategic pricing services for GovCons. Winning more contracts means getting more use out of our excellent accounting services for GovCons. 

BOOST’s goal for our clients is winning contracts. Get only the best people working on those contracts with our recruiting and sourcing services for GovCons and create a winning working environment with our HR services for GovCons. 

BOOST’s suite of services combines to be the ultimate powerplay for any government contractor looking to win more contracts.

Frequently Asked Questions (FAQ)

1. What does it mean to be DCAA-compliant?

To be DCAA compliant is to conduct and document the processes to manage your business in accordance with DCAA establish guidelines.  Those guidelines can be found under DCAA Publication DCAAM 7641.90 Information for contractors.  This manual includes some of the more frequent requirements that contractors encounter when working with DCAA, and when responding to the Government procurement and administrative process.

2. What are the differences between normal managed accounting services and managed accounting services for GovCons?

Compliance is the main difference.  While most accountants can keep the books of a company in accordance with GAAP, only GovCon accountants can alert you on the management of unallowable, indirect rates, contract types, and all of the compliance that comes with doing business with the Federal Government.

3. Does BOOST‘s managed accounting services for GovCons work with BOOST’s other services?

Yes! We are one seamless back-office solution, integrated and interlaced to provide the best service offerings to our clients.

4. What makes BOOST different from other companies that offer managed accounting services for GovCons?

We only do GovCon, as such, we have unmatched industry experience.

5. What is senior-level financial consulting?

Senior-level financial consulting is going beyond the processing of transactions to provide our clients with transparency and understanding of their financial results.  Our CFO services will provide your business help with M&A transactions, forecasting, budgeting, indirect rate management, incurred cost submission, cash management, and other needs. It is a complete array of financial services designed to complete all your financial needs.

6. How does BOOST implement accounting systems for government contractors?

BOOST works with different GovCon ERP providers to ensure the right system is selected for each of our customer’s needs based on their service offerings. We believe in being system agnostic, as selecting the right system as it is not a one-size-fits-all. During the kick-off call, our team schedules routine milestone calls to identify the next steps and allow for Q&A. We take care of it all, from loading historical information to setups and support, to sending out invoices and recording time. Our team walks you through the items that are most important to you and gets the job done.

7. How does BOOST handle incurred cost submission?

BOOST comprehends how complex and intricate the ICP submission is and we allocate enough time for processing and reviewing. Additionally, our BOOST team uses not only the recommended ICE model but also the checklist, to allow for easy submission. Successful submission requires careful review to mitigate any issues, therefore, every ICP submission includes a two-person in-depth review by members of our team.

8. What are examples of special short-term projects that BOOST can work on?

BOOST can work on a number of short-term projects. For example, Accounting Ecosystem assessments, SF 1408 assessments, budgeting and forecasting, indirect rate management,  cash position reporting, financial review, system SME support, and so much more!

9. How does BOOST help with mergers and acquisitions preparation in government contracting?

Utilizing our financial experience in M&A transactions, we can advise both the seller and buyer sides, just not on the same M&A.  From the seller’s perspective, we can work on cleaning financial statements in preparation for a sale, as well as recommending changes/updates to procedures to provide a fresh, up-to-date transparency to the operations.  From the buyer’s perspective, we can help in due-diligence efforts as reviewing the financial statements of the company to be acquired and providing recommendations to the seller. We work directly with your company or your lawyers in providing the financial analysis acumen to complete the transaction.

10. What are examples of accounting requirements specific to government contracting?

There are many, many, many requirements specific to government contracting that are necessary to do business with the Federal Government. From timesheet compliance to GAAP and FAR, to specific CONUS or OCONUS per diem rates and expense reimbursements limits to executive compensation – government compliance is not an easy task. Partnering with BOOST will allow any GovCon business to feel at ease and focus their time on the mission at hand.

11. How does outsourcing accounting services for GovCons save time and money?

At BOOST, we only work with GovCons. This allows us to be experts in our field applying efficiencies throughout our clients’ organizations. There is no time spent “learning the ways of the Government”. We know it, we have done it, and many times before. This saves our clients valuable time and money. Additionally, it allows the company to purchase only those hours necessary to manage its accounting services.  Why hire a full-time CFO, when you can pay for the hours necessary to do the work.

12. Once we contact BOOST’s managed accounting services team, what does the timeline look like for accounting system implementation and other services?

The timeline for service support truly depends on the services requested. At BOOST, we are committed to communication, proactiveness, and quality for all our customers as these are our driving factors for success. Through weekly status updates, monthly financial reviews, and milestone calls, we ensure all of our clients are abreast of the status of their support and actively reach out to gather intel for compliance applications.