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Does anyone know if QuickBooks meets the requirements of the federal requirement 2 CFR Part 200?
Solved! Go to Solution.
Hi there, @dgenard.
As of now, Intuit incorporates by reference Code of Federal Regulations, title 29, part 471, Appendix A to Subpart A, as well as any E-Verify obligations described in Federal Acquisition Regulations 52.222-54.
Moreover, in QuickBooks, you can customize the Chart of Accounts to meet the requirements. You can consider consulting your accountant for the setup. While as for the recording grants, awards, and costing, you'll have to do this manually.
As always, you can visit our QuickBooks Community help website if you need tips and related articles in the future.
If there's anything else you need, let me know by adding a comment. I'm here to help. Have a great day!
Hi there, @dgenard.
As of now, Intuit incorporates by reference Code of Federal Regulations, title 29, part 471, Appendix A to Subpart A, as well as any E-Verify obligations described in Federal Acquisition Regulations 52.222-54.
Moreover, in QuickBooks, you can customize the Chart of Accounts to meet the requirements. You can consider consulting your accountant for the setup. While as for the recording grants, awards, and costing, you'll have to do this manually.
As always, you can visit our QuickBooks Community help website if you need tips and related articles in the future.
If there's anything else you need, let me know by adding a comment. I'm here to help. Have a great day!
Hello,
You did not really answer the question as to whether QB is
Uniform Regulation 2 CFR 200.302 compliant?
That is really really a Yes or No answer. Maybe the answer is Yes with the following adjustments or additions.
Please answer the question.
SRD
Hello there, @Sam761. I'm here to answer your federal requirement concern in QuickBooks Desktop (QBDT).
Yes, QuickBooks is compliant with the Uniform Guidance at 2 CFR 200.302. However, it's important to note that since QuickBooks is primarily an accounting software, its compliance largely depends on the accuracy and completeness of the data you input. I recommend collaborating with either an internal or external accountant to ensure that your books remain compliant as your business grows.
Additionally, you can run payroll reports to get an overview of your business finances.
Let us know if you have other concerns with your federal requirements in QBDT. We're here to help you in any way we can.
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