Reporting GSA sales is an obligatory part of your GSA Schedule contract. Under the terms of your contract, to remain compliant with GSA regulations, you need to report GSA sales regularly, otherwise you put your contract at risk. So, how do you report sales? Let’s bring this into focus.
Meet FAS Sales Reporting Portal
As a GSA Multiple Award Schedule (MAS) contract holder you are obliged to report every GSA sale you make. From 2018, the Federal Acquisition Service has introduced a new way to do this: the FAS Sales Reporting Portal, or SRP. The purpose of the FAS SRP is to provide a simple and straightforward way for MAS contract holders to report their sales. You can report sales for both Transactional Data Reporting, or if you use the commercial sales practice reporting option.
How to use FAS SRP to report your GSA sales
Here is what you need to do in order to prepare yourself for sales reporting:
- Register at the Sales Reporting Portal. You will need to provide your GSA FAS ID to do that. To access the GSA FAS ID, you need to provide your email and password.
- To report your sales you need to login into the system using the “Contractor Login” button. Note that the system utilizes a two-step verification process.
- After logging in, you will see the list of your MAS contracts in your profile. Also, the page contains essential information about your contract and reporting settings including:
- The reporting period;
- Last time a report was submitted;
- Report period ending;
- Total outstanding balance, the amount of unpaid IFF based on reported sales.
- To report new sales for the period, use the “Reporting” dropdown menu. Select “Form Entry” to fill the sales form for each particular SIN of your GSA contract. Importantly, you must report sales even if they were zero during the period! You can save the progress at any time by clicking the “Save” button.
- Alternatively, you can upload your sales to SRP from a file by using the “File Upload” item in the “Reporting” dropdown menu.
- After you enter all your sales data, click “Submit” to report them to the Federal Acquisition Service. You are almost done!
- The final step is to pay the Industrial Funding Fee which is the required payment proportional to the amount of sales through the GSA (0.75% of the reported sales), including such sales platforms as GSA Advantage. The IFF must be paid quarterly, so if you use Transactional Data Reporting, you only need to follow this step every 3 months. To pay the IFF, select the “Payment” dropdown, then proceed to the “Make Payments” item and select the preferred way to make the payment.
When do I have to report my GSA sales?
Through TDR you are required to report your sales every month. If you use Commercial Sales Practices, you need to submit sales reports quarterly. Also note that you must access your FAS SRP account at least every 90 days, otherwise your account may be suspended.
Need help with GSA reporting?
Reporting sales is an integral part of GSA contracting, but for many vendors it’s uncharted waters. If you need help with submitting reports to the GSA, or Getting on a GSA Schedule, or managing your existing GSA contract, please don’t hesitate to contact Price Reporter.