There are only three weeks left in the federal government’s 2025 fiscal year. If you’re a government contractor, you’re either rushing to get your last-minute orders in or you’re planning for the 2026 fiscal year. If you’re looking to upgrade your management and accounting infrastructure, here are some key pathways and timelines for you to […]
To bid and support government contracts with T&M or cost-plus billing, you’ll need an ERP system like WrkPlan, which comes with a built-in time and expense reporting system. Whether your company has five employees or 500, WrkPlan is a system that should already be at the top of your short list. If you’re evaluating ERPs […]
The new federal fiscal year is starting off with turbulence and uncertainty; however, it’s still crucial for government contractors to remain vigilant as it pertains to meeting compliance requirements. Steer clear of manual processes or patchwork systems that will drain time, money, and energy. Instead, redirect limited resources to activities that drive growth. WrkPlan is […]
When the federal government shuts down due to a lapse in funding, the ripple effects spread far beyond Washington. Government contractors often find themselves caught in a web of uncertainty, stalled projects, delayed payments, and anxious employees. The 2025 shutdown has already led to widespread furloughs and temporary program halts across multiple agencies – serving […]
When preparing a bid for a particular contract, government contractors include a forecast of the direct cost for executing that contract, as well as an allocation of anticipated indirect costs. Indirect costs are business expenses that are not directly attributable to a particular contract. Examples include rent, property taxes, executive salaries, fringe benefits, and […]
Government contractors need to be familiar with the different types of contracts and the differences between them. This primer was written to help contractors to develop a foundational knowledge of government contracts, as well as the challenges and opportunities for each contract type. Why contract type matters Risk allocation: Who bears the risk of […]
Data driven decision making is much more than looking at numbers but understanding the story behind it. WrkPlan goes beyond tracking and recording financial transactions. It produces detailed and actionable reports that can be filtered on a granular basis, such as by contract and indirect expense pool. The Income / Expense Matrix – filtered to […]
Requirement Government contracts, particularly those beyond Firm-Fixed-Price (FFP) agreements, are often funded incrementally, with specific allocations for Tasks and/or Contract Line Item Numbers (CLINs). These contracts come with stringent requirements for notifying contracting officers as expenditures approach predetermined thresholds. Accurate tracking and management of these financial flows are critical for compliance and effective contract administration. […]
An Incurred Cost Proposal (ICP) is an annual report required for contractors working under cost-reimbursable government contracts. The proposal summarizes indirect costs incurred during a fiscal year and is submitted to the Defense Contract Audit Agency (DCAA). Contractors performing Cost-Plus, Time & Materials, or Labor Hour contracts are generally required to submit an ICP, particularly […]
In the dynamic landscape of business-to-government (B2G) interactions, understanding government procurement is crucial for businesses looking to expand their horizons. This comprehensive guide by WrkPlan dives into the intricacies of government procurement, showcasing its significance in the U.S. economy and outlining the processes involved. Understanding Government Procurement Government procurement, or public procurement, is the process […]
