Troy, Ohio Accounting Firm | Incurred Cost Submissions Page | Alliance Business Professionals, LLC

Incurred Cost Submissions

We will prepare the proposal using a DCAA developed program called ICE (Incurred Costs Electronically).  You are required to submit your proposal 6 months after the end of your fiscal year per FAR 52.216-7.  Incurred Cost Submissions need to be completed and submitted to the government if you performed on one or more Cost Reimbursable and/or Time and Materials contracts anytime during your fiscal year.

Our government industry professionals will complete the numerous pages of financial data required by performing the following steps:

  • Preparing a Schedule of Cumulative Direct and Indirect Costs by Contract
  • Reconciling your General Ledger to your Claimed Direct Costs
  • Comparing your Actual costs to your Billings
  • Assembling a List of Subcontractors and Closed Contracts
  • Reconciling your 941 payroll reports to your labor distribution
  • Briefing your Contracts
  • Calculating your Indirect Cost Rates
  • Providing you with a list of any material discrepancies identified

The Incurred Cost Submission is a complex document and is very dependent on an effective accounting system to provide the necessary information to complete the government submittal.

Failure to provide an ICE may disqualify you from billing the government. If you depend heavily on the government for cash flow, disqualification from billing will create adverse results very quickly.  You may also be subjected to Administrative, Civil and/or Criminal Penalties for not submitting your Incurred Cost Proposal to the government.  For specifically unallowable costs included in your proposal, the government has the authority to not only disallow the costs but also to assess a penalty which can be up to two times the disallowed amount.

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