Incurred Cost Proposal Workbook
Instantly Generate Your Incurred Cost Submission (ICE) with ICAT
Save time and simplify the Incurred Cost Submission process. ICAT simplifies preparation of your annual Incurred Cost Submission. Instantly generate all required schedules for your Incurred Cost Proposal (ICE) with your cost data automatically populated directly from ICAT and QuickBooks®.
Stop manually inputting data into spreadsheets. ICAT’s Incurred Cost Proposal Workbook is modelled directly from the Incurred Cost spreadsheets (ICE) used by the DCAA, and includes all required and optional schedules. Because the Incurred Cost Proposal Workbook is integrated with your accounting system, your cost data seamlessly populates the associated report fields, and includes hyperlinks for cross references across schedules.
Expedite contract closing. ICAT typically saves contractors up to 40 hours completing the Incurred Cost Report.
How does it work?
ICAT enables you to:
- Generate ALL schedules (required A-O, as well as optional schedules) for an adequate submission pursuant to FAR 52.216-7
- Automatically populate schedules with cost data from ICAT and QuickBooks
- Navigate cross reference amounts using automatically generated hyperlinks in the schedules
- Apply updates across all related schedules - Amounts referenced in one schedule are automatically tied to related schedules
- Export all schedules with a table of contents to Excel
- Add remaining narrative and external data to the schedule templates in your Excel file
- Expedite contract closing
Instantly Generate All Required Schedules
You may be asking if you have to use the ICE model. Contractors may use any format, as long as your submission includes all schedules required in FAR 52.216-7, the Allowable Cost and Payment Clause. (See Slide 31 in the DCAA Guidance).
An adequate Incurred Cost Submission requires all schedules listed in FAR 52.216-7(d)(2)(iii).
ICAT generates each of these schedules, and automatically populates the contract cost data directly from ICAT and your QuickBooks® accounting system. In addition to the required schedules, ICAT also enables you to generate the additional supplemental schedules if requested.
- Schedule A: Summary of Claimed Indirect Expense Rates
- Schedule B: General and Administrative Expenses
- Schedule C: Overhead Expenses
- Schedule D: Occupancy Expenses
- Schedule E: Claimed Allocation Bases
- Schedule F: Facilities Capital Cost of MoneyFactors
- Schedule G: Booked and Claimed Direct Costs
- Schedule H: Government Participation by Pool
- Schedule I: Schedule of Cumulative Direct and Indirect Costs Claimed and Billed
- Schedule J: Subcontract information
- Schedule K: Hours and Amounts on T&M/Labor Hour Contracts
- Schedule L: Reconciliation of payroll
- Schedule M: Decisions/Agreements/Approvals and Accounting/Organizational Changes
- Schedule N: Certificate of Final Indirect Costs
- Schedule O: Contract Closing Information
- Comparative Analysis by Pool and Account (Indirect, G&A, Intermediate, Direct)
- Executive Compensation Information
- Subcontract Efforts
- Contract Briefs
Submit an Adequate Incurred Cost Proposal
The requirement to submit an annual Incurred Cost Proposal applies to cost-reimbursement type contracts. Some prime contractors may require an Incurred Cost Proposal from their subcontractors when there is a flow down clause.
Incurred Cost Submissions are due six months after the contractor's fiscal year end. For many contractors that deadline is June 30th.
When it comes time to prepare your report, use DCAA's Incurred Cost Proposal Adequacy Checklist to ensure your Incurred Cost Submission is complete and accurate, to satisfy the requirements of the FAR.
Watch an on-demand webinar to learn more about ICAT's Incurred Cost Proposal Workbook feature: