Basically, the government wants to be assured that the direct and indirect costs a contractor bills the government are timely, accurate, and complete. In making this determination, the government (primarily its auditors) looks at a variety of factors including how a contractor enters direct costs, computes indirect cost, accumulates costs by cost objectives, ensures that costs are accurate and reconcile to other reports, prepares accurate billings and other reports that show incurred costs, generates and monitors indirect rates and screens unallowable costs. The system you choose must help the controller establish the proper accounting practices and generate required audit information as simply as possible.

Specific compliance-related features to look for in a government accounting system are presented in the following subsections.

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