Don’t Forget to Report GSA Schedule Sales and Remit IFF by 10/30!
Just a friendly reminder to all GSA Schedule holders! Your quarterly GSA 72A sales reporting and IFF payments are due no later than Tuesday, October 30th!
Quarterly sales reporting is a contract requirement even if you had no sales during the quarter. Don’t forget that completing required reporting and remitting the IFF in a timely manner are evaluation factors for your Contractor Assistance Visits (CAV). Continue reading »
Federal Contract Reporting Deadline – October 30, 2011
GSA Schedule Contract holders and other Federal contractors classified as large businesses should be aware that two major reporting deadlines loom on October 30th, GSA sales reports / IFF remittance and small business subcontract reporting.
Don’t Forget to Report GSA Sales and Remit IFF by 7/30!
It’s that time again! GSA sales reports and IFF remittance are due July 30th. Don’t forget that quarterly sales reporting is required, even if you had NO sales during the quarter (tip – enter zeros in such cases), and that timely sales reporting and IFF payment is an evaluation factor for your Contractor Assistance Visit. Visit GSA’s 72A online system to report and make payment.
Per the IFF and Sales Reporting Clause [GSAR 552.238-74], a GSA Schedule contractor is required to report, on a quarterly basis, sales to the Government under each of its GSA Schedule contracts and remit payment of the IFF to the GSA. The sales reporting and IFF payment must take place within 30 days after the end of each government fiscal quarter (April 1-June 30). Sales should be reported separately for each GSA contract and by SIN. Sales reports must include sales Continue reading »
Federal Contract Reporting Deadlines Hit Soon!
GSA Schedule Contract holders and other Federal contractors classified as large businesses should be aware that two major reporting deadlines loom on October 30th, GSA sales reports / IFF remittance and small business subcontract reporting.
GSA sales reporting should be submitted via GSA’s 72A online system. Don’t forget that sales reporting is required, even if you had NO sales during the quarter, and that timely sales reporting and IFF payment is an evaluation factor for your Contractor Assistance Visit.
Large businesses that have small business subcontracting plans incorporated in their Federal contracts (including the GSA Schedules) are required to file their Individual Subcontract Reports (ISR) and Summary Subcontract Report (SSR) by October 30, too. Use the Electronic Subcontract Reporting System (eSRS) to file online.
New Routing Number for Mandatory GSA Schedule Quarterly Fee Payments Effective July 1, 2010
Pay.gov, GSA’s online payment processing system, is making some changes to the way it processes electronic debit payments from bank accounts. Pay.gov, has introduced a new routing number for Industrial Funding Fee (IFF) electronic payments: 041036046 (effective July 1, 2010). The new routing number is in addition to the current Pay.gov routing number: 042736141. You may be impacted by this change if you submit your IFF to GSA electronically (ePay) AND you utilize debit block services from your financial institution (if you unblock your accounts using Originating Depository Financial Institution (ODFI) routing numbers). To determine whether this change will affect your future IFF payments, ask yourself the following questions:
- Do you submit IFF payments through ePay Direct Debit from a bank or other financial institution account?
- Does your bank or financial institution account currently have debit blocks in place?
If you answered “yes” to both of these questions, you must provide the new routing transit number (041036046) to your financial institution so your IFF payments will continue to process successfully. If you previously unblocked your account for ACH debits with GSA’s ten-digit Company ID number instead of unblocking by routing number, you will not be affected by this change and will not need to provide the new routing number. For additional assistance, contact your assigned GSA Administrative Contracting Officer (ACO) (GSA ACO Locator) or see the 72A Quarterly Reporting System (72a.gov)
Don’t Forget to Report GSA Sales and Remit IFF by 7/30!
GSA Schedule Contract holders don’t let dreams of vacations or nightmares of buying season distract you from the fact that your GSA 72A sales reporting and IFF remittance are due no later than this Friday, July 30th! Quarterly sales reporting is a contract requirement even if you had no sales during the quarter (although as dedicated followers of FedPoint, I doubt that’s the case)! Submit reporting and payments online to avoid being late and getting a negative mark on your GSA Report Card.
New VA Online Sales Reporting / Payment System for 3rd Quarter Reporting
The Department of Veterans Affairs (VA) and the General Service Administration (GSA) have collaborated to create a new GSA/VA Sales Portal. It is now online allowing firms with Federal Supply Schedule (FSS) contracts awarded by and managed by the VA to register to report sales for the 3nd quarter of FY-2010 (ended 6/30/10, with reports due no later than 8/31/10). Similar to the 72a.gov system for GSA-managed FSS contracts, contractors will also make Industrial Funding Fee (IFF) payments electronically through the new GSA/VA system. This will streamline the sales reporting process and will automate IFF payment for VA-managed FSS contract holders. This is a huge step forward from the current VA Sales Spreadsheet reporting process. If you have a VA-managed FSS contract, visit https://vasalesportal.gsa.gov to access and register the VA Online Sales Reporting System. To learn more about VA Schedule Contracts, see the VA Federal Supply Schedule Service monthly newsletter.
Another Quarter Ends, Reporting Deadlines Loom
Now that the second quarter of FY10 (or the first, depending on who you ask!) has officially ended, it is time for contractors to start preparing and submitting reporting required under their Federal contracts. Three of the most important upcoming deadlines include:
- ARRA / Stimulus Contract Reporting (Due April 10th)
- eSRS Small Business Subcontracting Plan Reporting, Individual Subcontract Reports (Due April 30th)
- GSA 72A Sales Reporting and IFF Remittance (Due April 30th)
Follow the hyperlinks above to access the reporting sites. If you have any questions about your reporting requirements or the reporting process, try searching FedPoint or contact Aronson & Company directly for guidance.
Resolution #2: We Will Complete Required Contract Reporting Accurately and On-Time
Although we are entering a new calendar year, the emphasis on transparency and accountability that began in 2009 will continue to be a major pressure point for Federal Contractors in the immediate future. Increases to budgets and personnel at oversight agencies will flow down to contractors in the form of increased inquiries and audits. Furthermore, due to the political and economic climate, contractors should expect more scrutiny from legislators, the press and the public, especially in regard to projects funded by the American Recovery and Reinvestment Act (ARRA) and the controversial eVerify system. Penalties for non-reporting can be substantial and can result in consequences up to and including contract cancellation and debarment.
Please follow the link below to see a summary listing of major reporting requirements that may apply to your company. This list is not meant to be comprehensive for all users; please review your contract files to ensure individual compliance. Continue reading »
GSA Schedule IFF Reporting Due July 30th; Get Your Schedule Ready for Gov’t Year-End!
A gentle reminder to GSA Schedule Contract holders – if you haven’t already done so, your 72A IFF reporting and remittance is due tomorrow, July 30th. Timely reporting and remittance of the IFF is an evaluation factor on the GSA Report Card, so it is very important to report by Thursday, even if you have not had any sales for the quarter.
As we begin to enter the always-hectic end of the Government fiscal year, we also encourage you to take a moment to evaluate your GSA Schedule. Is your pricelist up-to-date and does it include all of the products and services you need to capture sales quickly? Are you in compliance with the terms and conditions of your contract so that the sales you do close don’t come back to haunt you? If not or if you aren’t sure, contact Aronson to discuss how we can help you make the most of the 4Q feeding frenzy and come out unscathed.
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