Outsourced Accounting Services

Full-Service Financial Execution for Government Contractors and Grant-Funded Businesses

Strengthen Your Operations with Expert Accounting Support

For government contractors and federally funded businesses, financial compliance isn't just a back-office task—it's mission critical. Managing cost-reimbursable contracts, timekeeping, indirect rate allocations, and federal invoicing requires constant attention and precision. But building an in-house team to manage it all is expensive, difficult to scale, and often not feasible for lean operations.



At Peter Witts CPA PC, we offer outsourced accounting services specifically tailored for organizations working with the Department of Defense (DoD), Department of Energy (DoE), NIH, NSF, and other federal agencies. Our team handles your day-to-day accounting activities while embedding federal compliance into every transaction. Whether you're a startup receiving SBIR/STTR grants or a growing contractor with multiple federal awards, we deliver the systems, oversight, and reporting you need to stay compliant and grow with confidence.

Why Outsourcing Is the Smarter Choice for Federal Contractors

Government-funded businesses have unique accounting challenges:

  • Contracts require real-time labor cost allocation
  • Invoicing must follow FAR guidelines and electronic submission protocols
  • Agencies like DCAA, NIH, and DOE require allowable cost segregation
  • Timekeeping, payroll, and reporting must stand up to audit scrutiny

Traditional bookkeepers or generalist firms are not equipped to manage these complexities. Our outsourced services bridge the gap between technical accounting and regulatory compliance—offering a cost-effective alternative to building a full internal accounting team.

Daily Bookkeeping and Transaction Management

  • General ledger maintenance
  • Cost coding by contract and cost pool
  • Vendor management and bill processing
  • Payroll allocation and labor tracking
  • Bank, credit card, and balance sheet reconciliations

We maintain accurate, audit-ready books that align with your indirect rate structure and allow for easy reporting to federal agencies.

Timekeeping & Payroll Integration

  • Implementation of timekeeping tools (compliant with DCAA standards)
  • Processing and classification of labor costs by project and labor category
  • Payroll preparation, review, and integration with your accounting system
  • Review of labor distributions to ensure compliance and allocability

We ensure every hour is accurately recorded and costed—critical for DCAA compliance and profitability analysis.

Monthly Financial Reporting

  • Contract-specific and company-wide financial statements
  • Burn rate tracking for grants and cost-reimbursable contracts
  • Indirect cost pool summaries
  • Real-time dashboards, variance analysis, and KPI tracking (depending on package tier)

Reporting is delivered with context and guidance, giving your leadership team the insight they need to make data-driven decisions.

Integrated Invoicing & Accounts Receivable

For federal contractors, invoicing isn’t just a bill—it’s a regulated document that must reflect proper rate application, cost segregation, and supporting documentation. We manage:

  • Invoice preparation for WAWF, PMS, and other agency portals
  • Contract billing reviews to align with funding structures
  • Receivables aging tracking and collections assistance
  • Reconciliation between billed and unbilled costs

We ensure that your billing supports cash flow, withstands audit, and meets the technical standards required by your contracting officers.

We empower our clients to grow with confidence by delivering high-quality, customized financial services that meet the exacting standards of the DCAA, NIH, DOE, and other federal agencies.

Scalable Support Built Around Your Contract Structure

Every client engagement begins with an onboarding process where we learn your business, review contract structures, assess system readiness, and set up workflows aligned with your funding source. Our team then delivers consistent monthly service through secure platforms and regular check-ins.

Depending on the size and scope of your business, outsourced services can be delivered through the following CFO packages:

  • The General — Baseline support with optional bookkeeping add-ons
  • The Squadron — Monthly closings and light controller support
  • The Platoon — Embedded transaction support, reconciliations, and reporting
  • The Battalion — Full-scope outsourced accounting with strategic CFO oversight