As all government contractors know, one of the most important documents you need to produce on a regular basis is a Certified Payroll Report. This report needs to contain a comprehensive breakdown of labor distribution within a single or multiple pay periods.
Problems at DCAA Spell Pain for Contractors
For contractors, the audit process can be stressful, confusing and fraught with risk. Specifically, the often year-to-year changes in the practices and policies of the Defense Contract Audit Agency (DCAA) make it difficult for even seasoned contractors to keep up. The result is a cloud of uncertainty affecting contractors and lawmakers alike, with bitter disagreements over what makes for effective policy and big dollars at stake.
Contract Modifications: Common Practice for Government Buyers
Contract modifications (frequently referred to as “mods”) are fairly commonplace in today’s federal procurement environment. Whenever the Government wants something different than was envisioned for the original contract or something unforeseen occurs, a modifications become necessary.
Factoring for the Government Contractor
Factoring government receivables has been available for many years. Although the small/medium businesses may not be as knowledgeable about factoring or accounts receivable financing, it is still available to them. Factoring has become more common place since more small/medium sized businesses have been proactively going after the huge market of government spending. The government endorses factoring since it passed of the Assignment of Claims Act which gives the contractor the ability to assign its invoices to a third party.
Expiration of Simplified Acquisition Pilot Authority: Cause for Alarm?
With little publicity, it appears that Congress may have dropped the ball on an important but little-known provision that gives contract officers more flexibility in the application of the simplified acquisition process.
