Timesheets are a major component of a government contractor’s accounting system. But why are they so important? See below.
- FAR 31.201 –2 (d) reads: A contractor is responsible for accounting for costs appropriately and for maintaining records, including supporting documentation, adequate to demonstrate that costs claimed have been incurred, are allocable to the contract, and comply with applicable cost principles in this subpart and agency supplements.
There are penalties for labor mischarging, requirements to ensure your organization is meeting, policies that need to be in place and more. Join us for a webinar on 11/1 where we will discuss requirements for employees and managers related to timekeeping and DCAA Audits that focus on timekeeping.
Register here to attend: Webinar: Timekeeping and the Government Contractor