Preparing the Incurred Cost Submission

By April 27, 2021 News No Comments

Person's Hand Using LaptopPreparing the Incurred Cost Submission

Do you have the clause FAR 52.216-7 “Allowable Cost and Payment” in any of your contracts? If you do, you have a requirement to prepare an Incurred Cost Submission for your company and submit to your local DCAA office 6 months after your fiscal year end. Typically, this FAR clause is incorporated in cost reimbursable contracts and Time-and-Materials (T&M) contracts that are direct to the government or a flow-through from a prime contractor. A fixed price contract may also have a cost reimbursable element(s) so be sure to check all your contracts for this clause that triggers the requirement for submission. If you discover that you do have the requirement and would like help in the preparation or review of the submission, we’d be happy to help with that. Please contact Michelle Jenkins or Amanda Jenkins  and we can get you on your way to compliance!

New This Year

DCAA will offer a submission portal through PIEE to submit your Incurred Cost Submission. Your local DCAA office should be emailing out instructions on the process or you can find them here Accessing the Contractor Submission Portal.