McNew & Associates is Ready to Help in Time for FAR 42.7 Billing Rate Deadline

Many companies with cost reimbursable government contracts will need to submit revised billing rates by March 31, and McNew & Associates can take the stress out of the process

An important deadline is approaching for many companies that do business with the government, and McNew & Associates is ready to help. Subpart 42.7 of the Federal Acquisition Regulation details how contractors must estimate and revise their billing rates each year. With a March 31 deadline for releasing provisional billing rates looming for many businesses, a visit to the McNew & Associates website at could be an especially productive move.

Guided by a mission of "taking the stress out of doing business with the government," McNew & Associates is ready to help client companies calculate their indirect costs and identify whether revised billing rates will be required. By simplifying this important work and relieving clients of the associated stress and effort, McNew & Associates makes government contracts more profitable. As many companies will benefit from this type of support in the run-up to the March 31 deadline, their representatives are invited to visit soon to get the process started.

"Each year, many businesses that do government contracting work end up scrambling to put together provisional billing rates by March 31," said McNew & Associates founder and CEO Mike McNew. "Many companies end up discovering that they were less prepared to take this important step than they thought, and that can be costly. We're always ready to make everything a lot easier and simpler for our clients. There's still time to arrange for our assistance with preparation for the March 31 deadline, and we look forward to helping many new clients this year."

The federal government relies heavily on products and services provided by private companies, spending hundreds of billions of dollars each year to obtain them. In order to prevent problems ranging from over-billing to outright corruption, these contracting activities are governed by hundreds of detailed rules.

Of businesses that win government contracts whose terms provide for expenses to be reimbursed, the Federal Acquisition Regulation mandates that provisional billing rates based on actual, averaged historical costs be updated each year when "significant variances" relative to past costs have been observed. With this reckoning being required within 90 days of the end of the company's fiscal year, an important March 31 deadline for many businesses is approaching quickly.

Backed by extensive experience at dealing with the Defense Contract Audit Agency and other relevant government organizations, McNew & Associates has a long record of helping client businesses keep up with this duty. With time still remaining to prepare for the March 31 deadline on revised provisional billing rates, McNew & Associates is ready to help now.

About McNew & Associates:

Dedicated to taking the stress out of doing business with the government, McNew & Associates offers a full range of back-office support, training, accounting, compliance, and consulting services.

Contact Info:
Name: McNew & Associates
Email: Send Email
Organization: McNew & Associates
Address: 4445 Northpark Drive, Suite 103 Colorado Springs, CO 80907
Phone: 7195590670

Release ID: 301179