DCAA Compliance Blog

Your Source for DCAA News and Information for Contractors

ReliAscent® LLC is the only government contract accounting firm that specializes in all aspects of government contracting compliance.  From our DCAA compliant accounting services, to monthly government contract accounting for all government agency awards, contract management & administration, and financial services & planning, our goal is to ensure the success of our clients, and all small business government contractors and grantees.  

In our DCAA Blog, we discuss the latest government contracting news from the Federal Government, the DCAA, and DCMA, as well as promotions offered by ReliAscent, and helpful tools and resources for contractors.

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Monitor your subcontractor's Incurred Cost Submissions

Posted by Mike Anderson on Fri, Mar 30, 2012 @ 10:34 AM

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ReliAscent has noticed another policy change from the DCAA recently that could impact the bottom line of a small business. One of our clients received a notice from the DCAA that indicated there will be more emphasis on subcontracts. Specifically this emphasis will be on reviewing policies and procedures related to subcontracting. Two areas of concern were outlined on monitoring subcontractors and on requiring subcontractors over $700K to submit Incurred Cost Submissions either to the prime or to your ACO in accordance with FAR 52.216-7. This has significant impact for many small businesses. incurred cost, incurred cost reports, ReliAscent can help any company with preparation of an Incurred Cost Submission as well as your subcontractors (just a reminder that an Incurred Cost Submission is due within 6 months from the end of a company’s fiscal year per FAR 52.216-15).

So there are basically 2 action items required:

1. You may need to review your Policies and Procedures to make sure you have the proper documents in place for your subcontracts and control of your subcontractors. ReliAscent can help you by performing a review and providing a “gap” analysis. Then ReliAscent can help fill in these “gaps” with standard procedures that ReliAscent has developed to handle these situations. Of course, training can be supplied by ReliAscent until you are comfortable that these policies and procedures are working properly to be compliant.

2. You may need help with preparing your Incurred Cost Submission. Now is not too early to start getting ready even though it may not be due for 6 months. Completing your ICE early can also help improve your positive cash flow. To help you complete your ICE report, ReliAscent has created two valuable resources to help you prepare for your ICE submission. These can be found on the "Whitepapers and Checklists" pages of the ReliAscent website.  Visit our pages dedicated to Incurred Cost Reports as well. Our valuable whitepapers are resources to ensure you can accurately finish each Schedule from the ICE.

ReliAscent can help your company prepare a complete Incurred Cost Submission to ensure you remain in compliance. ReliAscent staff are experts in completing Incurred Cost Submissions. We will complete this accurately, quickly, and in the most advantageous fashion for the needs of your company.

Contact us today to see how we can help you with these important tasks. In today’s government contracting environment you don’t want to have this done improperly. Errors in Incurred Cost submissions can take money from your bottom line. Don’t let that happen. Call ReliAscent today to see how we can help you protect your bottom line.

Thank you again!

The ReliAscent team.

Topics: Incurred Cost Submission, DCAA compliance