Why is Quarterly Reporting and IFF so confusing?

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This very simple process that the government has set up to fund their GSA and FSS has left many contractors confused about what they should and should not report as a GSA sale. I get questions from my clients every quarter about what to report and what not to report. As long as you follow a few simple rules it makes this process much easier.

1. Delineate federal customers in your accounting software. I know that in QuickBooks you are able to delineate customers into a certain category. If you do this for federal customers then you are easily able to pull a report at the end of the quarter of these sales.

2. Make up a separate invoice for these customers that makes sure you have your DUNS and GSA Contract Number on the Invoice.

3. At the end of the quarter take a look at these items from these customers. Any item that is on your schedule that was sold can be considered a GSA Sale.

4. Any item that is not on your schedule cannot be counted as a GSA sale, make sure you subtract these items from the total that you are reporting.

I have found this is the easiest way to track and separate out your GSA sales to report. It works the same way If you provide services to the government. If you need help please check out the website and give us a call! (740)525-8664.

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  1. Rachael  September 2, 2016

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