Filing an incurred cost submission (ICS) can be an intimidating feat. An ICS can be very intricate with its various schedules or very confusing depending on how complicated your cost structure is. How are you supposed to know which schedules should tie and which ones should stand alone?
If it’s your first time filing, then an ICS adequacy checklist is a must. The checklist highlights specific costs and rates that must tie from one schedule to the next. It also lists required information for each schedule within the submission. Although no penalty will be assessed if your submission is inadequate, the checklist will save you a headache and allow you to spend more time running your business than dealing with the DCAA.
The most current adequacy checklist can be found in the Tools and Reference Materials section of our GovCon360 website under the Resources tab.