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Contract_Rookie

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About Contract_Rookie

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    Cleveland, OH
  1. Contract Pricing

    Thanks all, The client was only invoiced for the hours worked.. not the full month.. i.e it was prorated.. 6 phone calls, multiple e-mails and a week of digging through FAR clauses, contract clauses and verifying my own process for cost buildup, it was discovered that the client accounting department was calling my invoice a T&M invoice because it had an hourly rate on it (said rate was my loaded cost number).. Solution.... remove the hourly rate and reflect the number of hours at the total cost for the period. Accounting is happy and invoices are being paid.. Is it really that common for Accounting and Contracts to not be on the same page? There are many other posts out here providing useful, thank you for sharing your knowledge with a rookie!
  2. Contract Pricing

    The client thinks that the rate should have fluctuated based on hours worked. i.e. less than a full month cost would go up, more than a full month and cost would go down. I was looking for feedback to make sure I hadn't seriously misunderstood how to build loaded cost and invoice it..
  3. Contract Pricing

    Nothing like a little "light" reading to start the day with... Thank you, I do understand, but if I determine that Salary/2080+OH+G&A = Loaded Cost, this cost would remain the same regardless of hours worked.. 2 or 5000. (understanding that we do not have uncompensated over time) my cost would not fluctuate as this is my "actual" cost for the individual, for every hour they work. correct?
  4. Contract Pricing

    and here I thought I was providing such good detail and explanation... The salaried employee is assigned 100% full time to this one task. No other work was performed on any other task, and this salaried employee will work no other task but this one until it's completion.
  5. Contract Pricing

    Expected to be full time, but stared on the program mid month so ultimately ended up working 120 hours of a 160 hour month.
  6. Invoicing CP Subcontract - CPIF task order. Standard process used to build cost plus rate (1 salaried individual, 1 hourly individual on contract) cost base calculated for both types of individuals. (salary, calculated to hourly rate based on 2080 hours for the year) or (hourly rate accordingly), OH&G&A applied (accordingly)= resultant rate, This build up was provided at bid in sanitized version to prime and un-sanitized version to govt. (approved and awarded) Client invoiced for number of hours X Resultant rate.. in a standard month, (160 hours), Salaried individual works 120 hours, hourly works 160 hours. Client returns to question why the salaried individuals rate did not fluctuate based on the number of hours worked…. (this is where I need help) I understand the concept of Uncompensated over time causing the cost base to fluctuate if a salaried person works more hours than a standard week / month. However, we do not have uncompensated over time, so I have no trouble making this calculation / adjustment.(this is not the issue) But what happens when a salaried individual works “less” than a full month? Client requesting to see rate fluctuation, but based on cost build up, if I fluctuate the “cost” (which by this situation would go up, not down) would that not be double dipping, if I’m building my cost with “salaried down time” calculated into my OH already? Why would my cost change, if I’m only invoicing for the number of hours worked at the resultant rate? Invoicing requirements stated in the contract: Subcontract number & TTO number Total Straight Time labor charges by person – hours, labor category , rate per hour, and extended amounts or Fixed unit price and quantity delivered Material costs (if any) Travel and per-diem costs (if any) itemized by TTO Other costs incurred (if any) allowable under this subcontract Total current invoice amount and Cumulative billings by TTO to date This is exactly what was provided on the invoice Isn't this why we build a negotiated rate schedule - submit and get approved, and the true up at year end with an ICE review /submit?
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