Incurred Cost Submissions

Incurred Cost Submissions are a required annual filing for contractors with cost‑type and time‑and‑materials contracts, reconciling provisional billing rates with actual indirect costs incurred during the fiscal year. A complete and accurate submission supports compliance with FAR and DCAA requirements, facilitates audit review, and reduces the risk of questioned costs or delays. Effective incurred cost preparation depends on sound accounting practices, clear documentation, and consistency between financial records, rate calculations, and supporting schedules. Properly prepared submissions provide transparency, defensibility, and confidence throughout the audit process.