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Understanding The Chart of Accounts

The Chart of Accounts is the starting point for establishing DCAA compliant cost pools. The Cost-of-Goods-Sold and Expense type accounts are used in defining cost pools within the QuickBooks and Peachtree Chart of Accounts.

A cost pool is identified by hierarchy of accounts in the chart of accounts with each cost pool having one top-level account and one or more transaction accounts.

The required cost pools for DCAA compliance are:

  • Direct Costs
  • Fringe Benefits
  • Overhead
  • General & Admin Expenses
  • Unallowable Expenses
Each transaction account within a cost pool must be a sub-account of the top-level account that identifies the cost pool.

DCAA_Chart_of_Accounts

 

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