DCAA Compliance Blog

Your Source for DCAA & FAR Compliance News and Discussion

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.

We hope you will visit and take part in the discussions on our blog on a regular basis. If you ever have any questions or would like to discuss how our experts can help, do not hesitate to contact us at any time!  


 

Quick Closeout of a Government Contract

Posted by Mike Anderson on Fri, Apr 04, 2014 @ 11:06 AM

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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Topics: Indirect billing rates, Governement contract, Quick Closeout