GSA recently announced a more modern system will be replacing the current 72A Reporting System. The upcoming replacement known as, “FAS Sales Reporting Portal” will become effective in 2019. GSA has explained the goal of the transition is to provide a single reporting system to report sales as well as process industrial funding fee (IFF).
The implementation will be phased out into three steps over the next twelve months. Contractors will be allowed to begin reporting into the new system while historical data is transferred from the old system. The three step phase will be the following:
Phase One- Company will be notified via email that their contracts have been assigned a transition date. The contractor will then begin to report at the end of the reporting quarter.
Phase Two- Contractor will complete final reporting in the 72A sales system for the current quarter.
Phase Three- Contractors contract history transfers from the 72A system into the new FAS Sales Reporting System. The contractor will be notified of any imbalance notifications via email.
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