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.
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, a distracting questionnaire, and an 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 Submission services keep you in compliance, ensuring that your company is always up-to-date with DCAA standards.
Contact NeoSystems today to learn more about our Incurred Cost Submission support services!
