Experts in DCAA-compliant managed accounting services, system implementations, and CFO services for government contractors.
Would you rather concentrate on providing services to your government client, knowing that the compliance and back-office tasks are being managed by specialized professionals? Would you wish your competitive advantages to include compliance and government cost accounting? Learn about our public sector services and solutions for managing government contracts. Government contractors can scale their business procedures with the help of our back-office software.
Strategic back-office solutions for federal agencies
Government contractors, from small companies to federal divisions of large enterprises, receive back-office services from Lotus Solutions Business & CPA Consulting in the United States and other nations. For implementations & upgrades, daily accounting, hosting, financial planning, and reporting, we offer specialist knowledge in the area.
At Lotus Solutions Business & CPA Consulting, Deltek Costpoint and GCS Premier are two examples of the best-in-class government contractor software that our clients use. Our SSAE-16 SOC 1 & SOC 2 certified, PCI-DSS, MA 201, HIPAA, and ITAR compliant cloud is safe, redundant, and provides value to our clients.
From our breadth and depth of experience with government contractors, we have developed a deep understanding of the challenges faced by our client. Our clients profit from these insights and make use of our experience to price, win, and support project execution while maximizing permissible cost recovery, monitoring profitability, and ensuring cash flow.
Outsourced GovCon Accounting
For government contractors, expert managed accounting services
The Federal Acquisition Regulation (FAR), which sets down government accounting and reporting rules, can be challenging to understand and may limit corporate expansion. Any daily operational inefficiencies as a government contractor can ultimately have an impact on profitability. Businesses require a resource or trusted advisor who has developed and maintained a significant amount of government accounting systems and who has successfully completed many DCAA audits.
With the support of a team of knowledgeable accounting specialists that can align your government contracting business with DCAA regulatory standards, Lotus Solutions Business & CPA Consulting provides accounting software management and outsourced accounting for government contractors. Using the most up-to-date software technologies, we will offer on-site or remote accounting help for small- to medium-sized businesses as well as enterprises.
Outsourced accounting services for government contractors
Lotus Solutions Business & CPA Consulting develops a tailored solution with our managed accounting for government contractors by concentrating on your company's particular business requirements. For government contractors, we specialize in services, qualified personnel, accounting software (including the Deltek product line), as well as training for the entire spectrum of managed accounting and reporting responsibilities. We can assist with your federal contracting insights, accounting, and other needs if you're searching for a qualified, committed workforce.
Amongst the several accounting services we offer includes:
- Project costing services are something we offer, and they cover the distribution of indirect costs for both bids and proposals.
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Project reconciliation :
We assemble and reconcile your project reports into the general ledger. -
Contract billing :
We are experts at navigating government billing processes and will streamline this procedure for you. This includes figuring out how to use customer-specific payment methods and providing billing help for WAWF. -
Contract tracking :
Outsource federal contractor accounting services that track and report on your backlog of government contracts, and you'll never again lose track of a contract. -
Manage compliance :
We offer compliance support by managing contract audits by DCAA and other organizations, as well as by maintaining compliance with significant governmental agencies.
The benefits of outsourced accounting for government contractors
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Meet regulations :
Contractors find it simpler to adhere to all main auditing and regulatory bodies when they use outsourcing accounting services. This is especially valid for DFARS Clause 252.204.7012 hosting requirements (government contractors), as it helps to preserve data security. -
Improve accuracy :
Outsourced accounting for government contractors enables businesses to benefit from accounting professionals who can raise the accuracy and dependability of the internal accounting system. The management of money and reporting can also be assisted by these professionals. -
Enhances reports :
To have a deeper understanding of a contractor's performance, accounting systems for different types of government contracts offer data analytics and accurate reporting. This enables more effective cash flow management and the quick decision-making needed to look for opportunities for growth. -
Staffing effectiveness :
Staffing issues are a common occurrence for government organizations, particularly when trying to fill positions in public finance. Government contractors can efficiently handle diverse activities on both a long-term and short-term basis by outsourcing accounting roles to experts.
Learn more about all the services Lotus Solutions Business & CPA Consulting offers to businesses that contract with the federal government.