Many times the closeout of a federal contract can take years, especially with the backlog at the DCAA today in auditing Incurred Cost Reports to determine final indirect billing rates. This delay in closeout of a contract can be a problem for a contractor, sometimes resulting in a delay in collecting all the money due to them. It also can cause issues with determining final billing rates from data that is several years old. In certain situations there is an alternative path. This is called the Quick Closeout procedure.
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I would like to welcome all our previous Tech BizSolutions readers. As of June 1st, Tech BizSolutions, Inc. has merged with PBC, Inc of Denver to form a new company called ReliAscent, LLC. ReliAscent will still offer all of the same services that Tech BizSolutions and PBC offered individually. In addition, ReliAscent will offer services based on the synergy of bringing these two successful organizations under one roof. For instance, PBC has very detailed technical accounting knowledge to add to the Tech Biz accounting knowledge base. Tech BizSolutions has a wealth of contract management knowledge to add to the base of PBC's knowledge of government contracts. PBC has focused on the SBIR/STTR market in the past and brings intimate knowledge of this contract vehicle to the offering. Tech BizSolutions has offered services to all types of government contractors including Broad Agency Announcements, IDIQ contracts, GSA schedules, Seaport-e contracts, EFAST contracts and other contracting vehicles. PBC brings a strong working knowledge of the 8(a) program and other specialized contracting vehicles.