Redstone Government Consulting Blog | Redstone Team (6)

If having unbilled receivables is a new concept based on your experience with other software systems, you may find it a relief that having an unbilled balance is not necessarily bad or wrong. Unbilled Receivables is the offsetting account for billing and revenue postings in Deltek Costpoint. When a billing is posted, the Billed Receivables account is debited, and Unbilled Receivables account is credited. For the revenue posting, the Unbilled Receivables account is debited and Revenue account credited. Hence, if the billing and revenue posting amounts are the same, the offsetting Unbilled Receivables account will be zero. That sounds great, however, there may be situations where billing and revenue do not or should not match, which then creates a balance in the Unbilled Receivables account. So, when is it okay to see an Unbilled Receivables balance?

Have questions regarding what travel costs are allowable? Do you think the travel regulations say you can never have first-class airfare reimbursed? Or do you think the regulation says you are restricted to a compact rental car? For the answer to these questions and more, check out our video on travel regulations and myths!

The National Institutes of Health Acquisition and Assessment Center (NITAAC) released its long-awaited Request for Proposal (RFP) for the Chief Information Officer – Solutions and Partners (CIO-SP4) program on May 25, 2021. Phase I of the evaluation of offeror proposals will consist of validation of the offeror’s completed self-scoring sheet and ranking the offerors based on this scoring. Only the highest rated offerors will advance to phase 2 of the evaluation. Accordingly, every point counts!

What are the circumstances necessitating the use of a letter contract which is also referred to as an undefinitized contract? The main circumstance is the government’s interests demand that the contractor immediately begin work and negotiating the final contract price (definitized) isn’t possible in order to meet the needs of the buying activity. Letter contracts should only be used when the work needs to immediately begin and there isn’t sufficient time to agree on the final terms and conditions. The government and prime contractors use letter contracts to immediately start work and then set a schedule to work towards negotiating to the finish line.

Need some simple suggestions for basic contract management? This is a follow on to the previously published blog, Simple but Effective Subcontract Management Suggestions. Below are a few suggestions to consider when initiating and managing your prime contract within your contracts group.

Need some simple suggestions for basic contract management? Setting aside regulations in government contracting and all the complexities, there are a few steps you can take which reduce some of the workload and stress upon contract award. Below are a few suggestions to consider within your infrastructure.

If your company no longer qualifies as a small business or is a company that wants to move from commercial contracts to negotiated contracts with the Federal Government, then this Vlog is for you. This Vlog explains how to determine when Cost Accounting Standards (CAS) apply and what are the different levels of coverage. It also discusses how to determine your CAS-covered universe and why it is important. There are three significant dollar amounts when dealing with CAS: $7.5M, $2M and $50M. Watch to find out why these are important numbers in the world of negotiated Government contracts.

System for Award Management is a GSA managed application. Businesses desiring to do business with the federal government must ensure they are registered in SAM with accurate information about their business and current representations and certifications.

Our latest video and article provide answers to a few questions your organization should answer if you are interested in moving to a prime contractor role. This change will affect your business operations, so your staff should consider it and plan for the future. From proposal development to subcontract management, your organization may experience some growing pains.