The Framework for Government Contract Billing course will review the different types of contracts and the subsequent invoicing of these contracts to guide U.S. Government contractors with generating timely and accurate invoices for submission and ultimately reimbursement. Not only are timely and accurate invoices important for demonstrating a compliant and adequate accounting system, but timely invoice submission improves a contractor’s cashflow. This course will discuss the requirements associated with each of the contract billing types, invoice supporting documentation requirements, and finally, submitting invoices for payment according to contract requirements.
- Types of Contracts and Related Billings
- Cost Reimbursable
- Time & Materials
- Firm Fixed Price
- Indefinite Delivery Indefinite Quantity (IDIQ) Task Orders and Minimum Billing
- Contract Briefs
- Invoice Requirements
- Billing Frequency
- Contract Information
- Funding Value Percentage Available
- Funding Level – CLINs
- Inception to Date Costs
- Support for Invoice Costs
- Labor Reports, Timesheets
- Vendor Invoices
- Expense Reports
- Invoice Submission
- WAWF
- Other Vendor Portals
- “Snail” Mail
Instructor: Marie Salamone, Teresa Christy, & Drew Bean, Capital Edge Consulting, Inc.