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Contract Funding and Backlog

Meets the following DCAA requirements: (see all requirements here)

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  • Requirement 3a: Required by contract clauses concerning limitation of cost (FAR 52.232-20 and 21) or limitation on payments (FAR 52.216-16).

  • Requirement 4: Is the accounting system designed, and are the records maintained in such a manner that adequate, reliable data are developed for use in pricing follow-on acquisitions?

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Synopsis:

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Federal contracts are typically funded at the contract line item (CLIN) level. A CLIN is a line in your contract, typically found in Schedule B, which lists the services and products to be delivered, with a price or ceiling which cannot be exceeded. When billing the federal government, it is important to not bill in excess of funding. Your DCAA auditor will want to ensure that you have a system in place to prevent overbilling.

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If you need help with setting up items in QuickBooks Online or GovBooks, I would be glad to assist you through my online Help Desk.

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