GovCon Wednesday’s When PBRs Are Required—And How to Get One ApprovedEstimated Read Time: 8 minutes If you’re working with the federal government on cost-reimbursable or Time & Materials (T&M) contracts, one question should come up before your first invoice is sent: Do I need a Provisional Billing Rate (PBR)? For many small and mid-sized government contractors, the answer is yes. This article Part 2 in our 10-part series explains when a… Read More
What Are Provisional Billing Rates (PBRs)?
GovCon Wednesday’s A Guide for Indirect RatesEstimated Read Time: 8 minutes Government contractors operating under cost-type or Time & Materials (T&M) contracts are expected to recover not only their direct project costs but also indirect costs expenses like rent, benefits, and admin support that keep the business running. But here’s the catch: unless you have an approved Provisional Billing Rate (PBR), you may not be able to bill those indirects at… Read More
GovCon Chart of Accounts
Using a Single Overhead Rate?Simplify Your Chart of Accounts: For easier tracking and reporting, consider structuring your general ledger accounts as follows: direct costs starting with 5, fringe with 6, overhead with 7, G&A with 8, and unallowable costs with 9. While you’re free to customize the numbering to suit your preferences, this sequence provides a clean, intuitive framework that keeps things simple and consistent.