Get the free Indirect Cost Rate Worksheet - CCAS

Indirect Rate Delta Template EIN: Vendor Code: Organization Name: Entryway New Indirect Rate: Submission Date: Template Populated Date:KEY Prepopulated Data Excel Calculation Provider Input Provider

How to fill out indirect cost rate worksheet

How to fill out indirect cost rate worksheet

1. To fill out an indirect cost rate worksheet, follow these steps:
2. Gather all relevant financial documents, such as the general ledger, income statement, and expense reports.
3. Identify all indirect costs incurred by the organization, such as administrative expenses, overhead costs, and shared services expenses.
4. Assign appropriate cost pools to each indirect cost category.
5. Allocate the indirect costs to the appropriate cost objectives using a predetermined allocation base, such as direct labor hours or square footage.
6. Calculate the indirect cost rate by dividing the total allocated indirect costs by the total allocation base.
7. Fill out the worksheet by listing each indirect cost category, the allocated costs, the allocation base, and the calculated indirect cost rate.
8. Review the completed worksheet for accuracy and make any necessary adjustments.
9. Use the calculated indirect cost rate for budgeting, pricing decisions, and reporting purposes.

Who needs indirect cost rate worksheet?

1. The indirect cost rate worksheet is typically needed by organizations that receive government grants or contracts.
2. Non-profit organizations, educational institutions, research institutions, and healthcare organizations may also require the indirect cost rate worksheet.
3. It helps these organizations calculate their indirect costs and establish a rate that can be used for reimbursement or allocation purposes.
4. Additionally, auditors and financial analysts may need the worksheet to assess an organization's financial management and compliance with regulations.

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What is indirect cost rate worksheet?

The indirect cost rate worksheet is a document used by organizations to calculate their indirect cost rates, which are overhead costs that cannot be directly attributed to a specific project or activity.

Who is required to file indirect cost rate worksheet?

Organizations that receive federal funding or grants are generally required to file the indirect cost rate worksheet to establish their allowable indirect costs.

How to fill out indirect cost rate worksheet?

To fill out the indirect cost rate worksheet, organizations must gather financial data, including total expenses, direct costs, and relevant supporting documents, then follow the prescribed format to calculate the indirect cost rate by dividing indirect costs by direct costs.

What is the purpose of indirect cost rate worksheet?

The purpose of the indirect cost rate worksheet is to provide a systematic way for organizations to determine their indirect cost rates, ensuring compliance in charging overhead costs to federal grants and contracts.

What information must be reported on indirect cost rate worksheet?

The worksheet must include details such as total direct costs, total indirect costs, and calculations that lead to the indirect cost rate, along with supporting financial statements.