The system must accommodate a variety of contract types including Cost Type, Time and Material and Labor Dollar, Fixed Price, Fixed Unit Price and Other Transactions. For cost type contracts, for example, the system’s billing features should allow you to obtain cost data on all relevant cost objectives (e.g. contracts, task and delivery orders, subtasks, in-kind contributions) and establish "rate on rate" practices where preset indirect cost rates can be applied to multiple costs. It should provide numerous pre-billing reports for control purposes where current and total accumulated costs are identified, provide the ability to establish different indirect billing rates for different cost objectives (e.g. ceiling rates, desirable rates, etc.), provide the ability to change indirect billing rates when it appears that provisional indirect cost rates need to be modified and prevent billings that exceed authorized amounts or funding levels.

The system should provide billing formats that meet regulatory requirements (e.g.DD250, SF 1034 and 1035). Though it is impractical to expect a system to produce proforma formats for every conceivable billing circumstance, the system should provide proforma billings for cost type and T&M contracts that are sufficient for meeting most needs.

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