Share This

NeoSystems Corporation

Managed Accounting

Incurred Cost Submissions

NeoSystems ICS Services

Incurred Cost Submissions (ICS) are required for all contracts with FAR clause 52.216-7, or the “Allowable Costs and Payment Clause”. With just six months to submit an ICS proposal after the fiscal year ends, this process is as time-consuming as it is inconvenient. If an ICS proposal is overdue or inadequate, DCAA and your Contracting Officer (CO) can levy fines, demand repayments, and cast a black mark on your business’ reputation.

Contact Us to Learn More

NeoSystems Incurred Cost Submissions

On top of preparing the necessary data and supporting material, your team also needs to learn the latest modification of the Incurred Cost Electronic (ICE) model, which was released in 2012. With a confusing set of macros, distracting questionnaire, and overabundance of worksheets, the modified ICE has an unnecessary learning curve for a one-time, annual process. Who has time for that? NeoSystems’ Incurred Cost Submissions services keep you in compliance, ensuring that your company is always up-to-date with DCAA standards.

Our Incurred Cost Submission support includes:

  • Compliant submission of all required schedules under FAR 52.216-7
  • In-depth comprehension of auditing process and requirements
  • Management of DCAA auditor interactions
  • Accessibility to edit and store electronic files on an as-needed basis Our team of compliance experts leverages the Cognos reporting suite to produce compliant reports that fully encompass your costs. We take the pressure of keeping the ICE model up-to-date and assume the responsibility for your ICS so that you can focus on growing ahead. With NeoSystems, tackling the FAR Clause 52.216.7 and your Incurred Cost Submission will be associated with ease rather than apprehension.

Contact NeoSystems Today

Make the Move

Ready to set up your own security assessment? Contact NeoSystems today to learn more about our
security assessments and advisory services!

Contact Us

Software & Industry Partners