Tech BizSolutions 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. Tech BizSolutions 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. Tech BizSolutions can help you by performing a review and providing a “gap” analysis. Then Tech BizSolutions can help fill in these “gaps” with standard procedures that Tech BizSolutions has developed to handle these situations. Of course, training can be supplied by Tech BizSolutions 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, Tech BizSolutions has created two valuable resources to help you prepare for your ICE submission. Use these resources to ensure you can accurately finish each Schedule from the ICE. Click on the links below and you will be directed to our website where you can download each today!
Tech BizSolutions can help your company prepare a complete Incurred Cost Submission to ensure you remain in compliance. Tech BizSolutions 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 Tech BizSolutions today to see how we can help you protect your bottom line.