Aren’t All Incurred Cost on My Contract Eligible for Reimbursement on My Progress Payment?


This is the second blog in a three-part series on progress payments. This blog addresses Line 5, Contract Price and Line 11, Total eligible costs on the SF1443 Contractor’s Request for Progress Payment Form.

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Topics: Compliant Accounting Infrastructure, Contracts Administration, DFARS Business Systems, Government Regulations, Federal Acquisition Regulation (FAR)

Department of Defense (DoD) Increases Progress Payment Rates


This is the first blog on a three-part series on progress payments and discusses progress payments and the applicable rates.

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Topics: Compliant Accounting Infrastructure, Contracts Administration, DFARS Business Systems, Government Regulations, Federal Acquisition Regulation (FAR), Progress Payments

What's New with Paycheck Protection Program (PPP) Forgiveness


DCAA issued some guidance on PPP forgiveness treatment in the form of frequently asked questions (FAQs) to its auditors. The FAQs were not front and center on DCAA’s website but search on “PPP” did find them at: COVID FAQ for PWS 07142021 (dcaa.mil).

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Topics: Compliant Accounting Infrastructure, Incurred Cost Proposal Submission (ICP/ICE), Small Business Compliance, Contracts Administration, Defense Contractors, Cost-Type Contracts, DCAA Audit Support, Defense Procurement and Acquisition Policy (DPAP), Government Regulations, COVID-19, Paycheck Protection Program (PPP) Loans, Federal Acquisition Regulation (FAR)

Department of Health & Human Services Proposes Transition to New Payment Platform

On October 4, 2021, the Department of Health and Human Services (HHS) proposed an amendment to its Federal Acquisition Regulation (FAR) Supplement to support the HHS Electronic Invoicing Implementation Project and HHS’s transition to the Department of the Treasury’s Invoice Processing Platform. This rule would add HHS Acquisition Regulation (HHSAR) Subpart 332.70 (which is comprised of HHSAR 332.7000 through 332.7003) Electronic Submission and Processing of Payment Requests to provide policies and procedures for these requests.

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Topics: Compliant Accounting Infrastructure, Government Regulations, Federal Acquisition Regulation (FAR)

Overview of the Deltek Costpoint Planning Module

Deltek Costpoint Planning provides access to up-to-date, accurate information for developing, adjusting, auditing, approving, and re-forecasting project budgets and annual operating plans. We usually see three types of users in the Planning module: Business Development, Project Managers, and Project Control/Financial Analysts. Business Development users have access to develop new business budgets. Project Managers can create project budgets and run meaningful reports allowing them to make real time decisions and properly manage their programs. Project control/financial analysts can develop organization budgets and reconcile corporate and project budgets more accurately to better forecast their indirect rates.

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Topics: Compliant Accounting Infrastructure, Cost and Pricing and Budgeting, Deltek Costpoint

Deltek Costpoint Early Adopter Program 8.1 Part 2

The Redstone GCI Costpoint group finalized participation in the Early Adopter 8.1 testing program at the end of June. In this wrap-up we want to focus on the Projects and Contracts modules of Costpoint, as well as some additional highlights for Time and Expense. We are thankful for the opportunity to partner with Deltek on this program and are excited to see the new release of the update in the future.

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Topics: Compliant Accounting Infrastructure, Deltek Costpoint

More to Report if you have DoD Service Contracts

On July 9th, 2021, the Department of Defense (DoD)issued a final rule in the Federal Register to implement 10 U.S.C. 2330a which requires the DoD to establish a data collection system to provide certain management information about an awarded contract or task order that is valued in excess of $3 million. This new rule is applicable for the following service acquisition portfolio groups:

  • logistics management services
  • equipment-related services
  • knowledge-based services
  • electronics and communications services

You may read the entire rule here.

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Topics: Compliant Accounting Infrastructure, Small Business Compliance, Contracts Administration, Defense Contractors, Government Compliance Training, DFARS Business Systems, Cost-Type Contracts, DCAA Audit Support, System Award Management (SAM), Government Regulations

GovCon Revenue Recognition and Sales Commissions and a Little Commentary on GSA IFF

ASC 606, Revenue from Contracts with Customers, had an impact on the way many contractors recognized revenue related to contracts with the Federal Government. Redstone has covered this topic a couple of times (January 26, 2021 Government Contractor Challenges in 2021 Webinar and May 6, 2021 MossAdam/Redstone Webinar Compliance Changes for Government Contractors). ASC 606 also impacts the recognition of sales commissions. The overarching GAAP matching principle requires that the expense of sales be matched to the recognition of the related revenue.

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Topics: Compliant Accounting Infrastructure, Incurred Cost Proposal Submission (ICP/ICE), Defense Contractors, DCAA Audit Support, Government Regulations, Federal Acquisition Regulation (FAR)

DCAA Accounting System Adequacy: Are Accruals Required?

In my years as a CPA and consultant I’ve worked with many small businesses that have asked for input on what they need to be doing to get more reliable financial data. Usually, it’s business owners looking for ways to be able to make important decisions faster, but lately it’s often companies new to government contracting that are trying to figure out what they need to be doing to keep clear of problems with DCAA. In either scenario, one of my first suggestions is a formal monthly close process. When I say “formal”, that doesn’t mean that it has to be cumbersome and complicated. If the business financials are relatively simple, then that close process can also be fairly simple and still be effective. But it needs to be structured, with a specific checklist in place as to the procedures that are to be performed, the order in which they are to be done, who is responsible for each task, and target deadlines for each. That recommendation then raises the next question – what do you mean by “close”?

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Topics: Compliant Accounting Infrastructure, DCAA Audit Support

Deltek Costpoint Early Adopter Program 8.1

Redstone GCI has been pleased to be a part of the Early Adopter testing program for Costpoint version 8.1. There have been numerous changes and improvements within the system in all modules, but we would like to highlight the below areas that our consultants found most useful.

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Topics: Compliant Accounting Infrastructure, Deltek Costpoint