How to Record GFE Contract Transfer Labor
Recording the labor costs associated with physically and administratively transferring Government Furnished Equipment (GFE) from one contract to another.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Overhead - Material Handling (Allowable) | Expense | 1,200.00 | - |
| Accrued Payroll | Liability | - | 1,200.00 |
💡 Accountant's Note
When GFE is transferred between contracts with CO approval, the administrative labor is typically captured in an overhead pool (Material Handling or Indirect Labor).
Practitioner & Systems Framework
💻 ERP Architecture
Ensure the property management module links the GFE record to the new contract ID.
⚠️ Audit Flags
Transfer of GFE without written CO authorization or mischarging labor directly to a contract that did not receive the property.
📄 Required Documentation
DD Form 1149 or equivalent transfer document signed by the Government Property Administrator.
Automate this entry with the JEH Accounting Suite
Stop doing manual entry. Our VBA-powered ERP automatically generates your ledgers, Trial Balance, and Financial Statements.
No Subscriptions. Own your data.
Expert Analysis by Qusai Ahmad
General Accountant Supervisor & IFRS Specialist
Specialized in SAP GUI automation and Middle Eastern tax compliance. Building digital tools for the next generation of finance leaders.
Related Journal Entries
Defense, Aerospace & Government Contracting
Cost-Plus-Fixed-Fee (CPFF) Contract — Revenue Recognition as Costs Are Incurred
Defense, Aerospace & Government Contracting
Firm Fixed-Price (FFP) Contract — Cost-to-Cost Percentage of Completion Revenue
Defense, Aerospace & Government Contracting
Time & Materials (T&M) Contract — Revenue at Contractual Labor Rates Plus Material Cost
Discussion & Community Questions
Loading comments...