How to Record GFE Site Restoration
Records the costs associated with restoring a government-furnished site or facility to its original condition at the end of a contract performance period.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Accrued Contract Restoration Liability | Liability | - | 25,000.00 |
| Direct Contract Cost - Site Restoration | Expense | 25,000.00 | - |
💡 Accountant's Note
When a contract requires the contractor to restore government-furnished property or sites to a specific condition upon completion, the estimated costs should be accrued as direct costs provided they meet the allowability criteria under FAR 31.205-24.
Practitioner & Systems Framework
💻 ERP Architecture
Ensure these costs are tagged to a specific CLIN or WBS element to distinguish them from general facility maintenance.
⚠️ Audit Flags
Significant accruals at contract termination without supporting third-party restoration quotes.
📄 Required Documentation
Contractual clause requiring restoration, engineer estimates, and site photos before/after.
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Discussion & Community Questions
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