TimeLive time-tracking DCAA Compliance:
For Government Contractors DCAA compliance is a must and DCAA Audits are a reality. DCAA compliance is just a part of doing business with the Federal Government Agencies and the Department of Defense (DoD). TimeLive’s QuickBooks Timesheet Solution provides the necessary help in documenting all DCAA requirements – in real time!
| TimeLive and DCAA | ||
| DCAA Requirement | TimeLive TimeSheet Solution | |
| Monitor the overall integrity of the labor/timekeeping system | Login and password security | |
| Changes to the TimeLive are captured by the software’s audit log that is viewable by the employee, supervisor and each system admin. | ||
| The system allows for a correction timesheet to be created, after the original timesheet has been submitted through the timesheet software. | ||
| Assure employee awareness training about the importance of proper time charging | TimeLive provides live online video training, quick start materials and online help for managers and users | |
| Effective authorization/approvals to accumulate and record labor costs to objectives | Multi-level approval routing process | |
| Automated approval workflow & email notifications | ||
| Approved transactions are locked down to protect data integrity. The transaction can only be re-opened by the system’s Administrator or a manager who has been designated that particular permission. | ||
| Validation rules in the TimeLive ensure that labor rules are followed | ||
| Configurable reports to track changes and approvals | ||
| Distribute labor to assure the proper recording of labor costs to objectives | Time tracking by project, account, and task through a defined overall budget | |
| Employees can only charge time for the projects, accounts and tasks to which they have been assigned | ||
| Proper labor distribution is ensured by various levels of time tracking | ||
| Account for labor costs to ensure that labor charges to the government are in compliance with Cost Accounting Standards and contract terms/clauses | ||
| Account for labor costs to ensure that labor charges to the government are in compliance with Cost Accounting Standards and contract terms/clauses | Defined rates to employees, accounts, and projects | |
| Only administrators and project manager can override specific rates | ||
| All changes are captured in the audit trails | ||
| Reasonably assure that labor transfers and adjustments are documented and approved | Reports to accurately reconcile various entries and charges | |
| Entries are tracked throughout the lifetime of the system, all backed by an audit trail | ||
| Job Costing and Billing | Cost projects using any work breakdown structure. Extensive cost/billing rules allow you to assign applicable cost rates to any project, job or task. | |
| Use multiple billing rate options by employee, customer, project or task. | ||
| Automated Request Handling | Time off and other requests require approvals and scheduling. And you want an audit trail for everything. | |
| Entering timesheet for absent employees and who are travelling | An audit is maintained of who created the online timesheet and who entered each line of the timesheet so a supervisor can not enter a timesheet on behalf of an employee without this being recorded. | |
| TimeLivel includes functionality for supervisors to enter timesheet on behalf of their employees | ||
| If an employee is absent for a prolonged period such as during travel, a supervisor or administrator can create timesheet on behalf of the employee if required | ||
| Record both paid and unpaid hours | Time Entry can be record for both paid and unpaid hours | |
| Sufficiently detailed work descriptions | Projects/tasks descriptions, comment field available for each timesheet cell. | |