How to Record GFM Receiving Labor
Recording labor costs for the physical receipt, inspection, and documentation of Government Furnished Material (GFM).
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Direct Contract Labor - GFM Handling | Expense | 850.00 | - |
| Accrued Wages | Liability | - | 850.00 |
💡 Accountant's Note
When the contract requires the contractor to manage government property, the labor associated with receiving and inspecting that property is generally a direct charge to the specific contract.
Practitioner & Systems Framework
💻 ERP Architecture
Use specific labor category codes mapped to the Government Property clause tasks.
⚠️ Audit Flags
DCAA physical floor checks or audits of Government Property Management Systems (GPMS).
📄 Required Documentation
Timecards, GFM receipt reports, and DD Form 1149 or 1348.
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Discussion & Community Questions
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