The VA emailed all vendors holding a VA Schedule contract an email July 10, 2023 a Sales Reporting Transition Update #2 to highlight the upcoming changes to the legacy VA Sales Reporting System. Per the VA’s first notification in March 2023, industry was informed that VA FSS will be transitioning the sales reporting and IFF remittance process to GSA’s Federal Acquisition Service (FAS) FAS Sales Reporting Portal (SRP) by the end of FY2023.
As part of the upcoming transition, and to align VA practices with GSA, the VA will be shortening the deadline for reporting sales outlined in clause 552.238-80 Industrial Funding Fee and Sales Reporting from 60 to 30 days. Currently VA FSS uses a tailored version of this clause in which the VA lengthened the reporting time period to 60 days from 30 days (standard clause version). Click here to read the full text of the revised clause:
552.238-80 Industrial Funding Fee & Sales Reporting (Jul 2020, Tailored Jan 2024)
As this may require adjustments to your internal business operating practices, this advance notice is provided for you to begin preparations for transitioning to the shorter reporting period. The new clause language will be issued via mass modification in late FY2023 and take effect on January 1, 2024, coinciding with the transition to the FAS SRP system. You do not have to wait for the new clause language to transition and begin reporting within 30 days after the close of the quarter.
Recommended Action
Please assess the implications of this change and begin preparation to fundamentally change or tweak your internal processes so that you can comfortably achieve Sales report filing and IFF remittance for Quarter 1 of FY 2024 and all subsequent quarters within 30 days after the close of the quarter.
The VA will keep industry updated on next steps and key activities. In the meantime, feel free to visit the SRP site and review the help section tutorials in the upper right-hand corner of the screen. This will provide an overview of the new process industry will use to report sales and remit IFF. Note that VA FSS contractors will only be using the quarterly sales reporting features inside the system.
While you are waiting for our next communications on this transition, please also consult VA’s FAQs on the SRP and the transition process.