Companies that do business with the government are subjected to regulatory compliances imposed by Defense Contract Audit Agency (DCAA) and Department of Labor (DOL). This imposes an additional burden for those companies to make sure all their processes comply with these regulations.
AccountSight is a fully DCAA and DOL compliant time tracking and billing software that takes care of the stringent oversight over time tracking. Learn how AccountSight maintains the key compliance requirements for time tracking enabling customers to focus better on their strengths.
8 Key Capabilities of AccountSight Time Tracker That Keeps Businesses Compliant
1. Well defined and documented procedure and policies
We keep you apprised of the DCAA and DOL procedures and policies involved, thereby enabling you to focus on resource management, productivity and client-satisfaction. Generally, it has been noticed that most of the companies spent a good deal of resources and time on analyzing the ins and outs of these regulations.
2. Daily accurate time entry record against the correct projects
Time spent by different employees is recorded across different projects or tasks on weekly or daily basis. At any point of time, a record can be edited or removed, based on the need. Employees can comment on the task done or pending to help their manager get a clear picture of the workflow. However, the person making any correction or edit, is required to add reasons or arguments while doing so.
3. Timesheet approval status
The audit log of the tracker keeps a record of timesheet submission, rejection, approval, withdrawal, and resubmission along with dates and comments as DCAA demands. The tracker also keeps a watch on the power exercised by concerned persons or managers at different levels or across different projects. The person who submitted the timesheet gets notified about the approval status of the timesheet through email.
4. Historical records for 3 years from last update
Even if a project is lengthy or got stretched unexpectedly somehow, you need not worry about timekeeping as AccountSight time tracker has got you covered. The tracker can archive timesheets linked with individuals, teams, projects or tasks for up to 3 years after the final payment (the maximum period within which DCAA can run an audit). The data is stored in a military-grade server and is accessible anytime, anywhere with just a click, however, only to authorized personnel after successful authentication as dictated by the regulator. Going the Extra Mile on DCAA Compliance
5. Training & Support
At AccountSight, we believe, we win when our client wins. We provide you with the desired training material and help you and your team better understand the guidelines of DCAA compliance. Our time entry training and documentation support help you champion timekeeping software and practices. Besides, our extensive knowledgebase is at your disposal.
6. Universal Time Tracking
Whether you got a daily timesheet, punch in and punch out or timer-based machine, AccountSight supports all. Moreover, the time tracker can be accessed and used via all devices, irrespective of the platform. On the go time tracking and approval is made possible by Android and iOS-compatible apps.
7. Reminders to Track Time
Set up daily, weekly or any specific reminders to cope with mission critical and sometimes unexpected demands imposed by your client. The reminder works on Web and app both; hence, no matter where you are, stay atop everything keeping your people and operations running efficiently.
8. Audit Control and Reporting
AccountSight data repository stands by your side whenever you are required to report on you timekeeping record or practices. With just a click, access all timesheet record pertaining to different projects, teams or tasks in the time range of your choice. Derive a detailed report as per the standards of DCAA.
Hope you found the information useful. Get in touch with AccountSight today to get a perfect DCAA and DOL compliant timekeeping software.