How often have you run into this situation?
You have completed your work, submitted your invoice, and have had to correct the invoice, to then resubmitt it. Getting paid is important and to the Goverment it is also important that you as a contractor submitt the proper invoice.
As contractors you know under the Prompt Payment Act the Government is required to make a payment to the small business within 30 days upon receipt of a proper invoice.
If the contractor doesnt’ submit a proper invoice, the Government will return the invoice requesting any mistakes be corrected, to resubmit the invoice back to the Government. Many contractors know that the 30 - day time period starts when the Government receives the proper invoice.
Therefore, to avoid unnecessary delay in payments make sure you submit the proper invoice. For this become familiar with the contract clause that specifically addresses submission of invoices, prepare an invoice that includes all the required fields, and train the person or the office responsible for invoice submission on the requirements. If you’re a defense contractor DD form 250 is also helpful to use. If you are a subcontractor you may not use said form.
Last, make sure that your information for electronic fund transfers is correct.
Questions about payments? Reach out via this email to schedule a consult: contact@dismondy.com