“Where Quick Script Solutions Fail”
Thousands of clients use NetSuite as their Enterprise Resource Planning (ERP) system of choice to manage their businesses. The Daston Corporation provides the only application “Built for NetSuite” that ensures U.S. Federal Government Contractors can obtain and maintain Federal Acquisition Regulation (FAR) and Cost Accounting Standards (CAS) compliance. Daston is committed to providing “NetSuite Compliance Ready Software” as part of our DCAA-on-Demand SuiteApp and service offerings.
SDN Partner SuiteApps
“Built for NetSuite” is a NetSuite initiative to educate and consult with SuiteCloud Developer Network (SDN) Partners in accordance with the mandated goal to provide quality SuiteApps to NetSuite customers. This goal is to ensure that SDN Partner solutions meet the same level of standards for security, data privacy, and overall quality as the solutions offered by NetSuite.
Ensuring software that is developed using the same code as NetSuite, leveraging its’ existing account, project, and classification structures while enhancing and extending NetSuite’s native functionality (without taking anything away). In short, it ensures that custom scripts (individual or bundled) are not passed off as “Built for NetSuite.” software.
Quality Control and Support
All SDN Partners are required to complete the “Built for NetSuite” review process for each of their SuiteApps prior to going to market with their products. The program continues to provide SDN Partners with educational advantages through the principles and guidelines published in the “SuiteApp Architectural Fundamentals & Examples”, or SAFE, guide. Once obtained, the BFN approval status must be renewed in each new NetSuite product release cycle, which is semi-annual.
Daston’s Software Subscription Agreement ensures the quality and support of its’ software for the life of the subscription. This includes changes and updates required to meet future releases of FAR, CAS, and NetSuite. With our Service Level Agreement, you never have to be concerned that your SuiteApp will work as NetSuite and regulations change over time or if you will be supported should you encounter an immediate need in its’ use.
GovCon Accounting and Regulations
The DCAA-on-Demand SuiteApp was built specifically for Government Contractor (GovCon) Accounting and has the systematic tools needed to obtain and remain compliant. The below provides more information on the sources used for ensuring compliance and the governing bodies.
Defense Contract Audit Agency (DCAA)
The Defense Contract Audit Agency (DCAA) provides audit and financial advisory services to the Department of Defense (DoD) and other federal entities responsible for acquisition and contract administration. DCAA operates under the authority, direction, and control of the Under Secretary of Defense (Comptroller)/Chief Financial Officer.
Information for Contractors:
NOTE: This whitepaper addresses all areas identified in the above guidance for an acceptable accounting system and can be used a resource to support your system documentation as you address your DCAA audit(s).
Cost Accounting Standards
The Cost Accounting Standards Board (as presently constituted) is located within the Office of Federal Procurement Policy under the Office of Management and Budget (OMB). The Cost Accounting Standards Board has issued the Cost Accounting Standards (‘CAS’), which have been incorporated into the Federal Acquisition Regulations (‘FAR’) and are incorporated by reference into most Federal Government Contracts. Please note that not all Federal government contracts are covered by the CAS and not all Federal government contractors must comply with the CAS. For more information on CAS, please seek guidance from your Accountant.
Information for Contractors:
DFARS 252.242-7006 – Definition of an accounting system
“The contractor’s system or systems for accounting methods, procedures, and controls established to gather, record, classify, analyze, summarize, interpret, and present accurate and timely financial data for reporting in compliance with applicable laws, regulations, and management decisions, and may include subsystems for specific areas such as indirect and other direct costs, compensation, billing, labor, and general information technology.”
DCAA-on-Demand for Netsuite provides the system automation to assist you in obtaining and retaining a DCAA “approved accounting system”. Your company will be responsible for utilizing the tools and systems within your internal control infrastructure to ensure the methods, procedures, and controls are in place to meet DCAA’s terms for an approved system.
Approved Accounting System Requirements (FAR/CAS)
Linked here is a summary of the key criteria for an approved accounting system.
To summarize, a set of custom scripts is not a substitute for compliant accounting software. Doing the due diligence before procuring a solution is an important step to ensure your ERP system can meet your FAR/CAS requirements today and well into the future as your company grows. The Daston Corp highly recommends that you perform a system’s gap analysis as part of your ERP Software Evaluation. Feel free to use the above matrix and have your potential vendors provide their method for addressing the FAR and CAS requirements of a successful system. Knowing before you procure about how the software will address these key requirements will go a long way in making your most informed decision concerning your new GovCon compliant software.