A software license might be thought of as an intangible supply item, like health insurance. It schedule 70 frequently asked questions faqs for industry partners. Publisher to recognize the revenue from your sale in the current period. Track spend, inventories, and cost savings on software. In april 2016, gsa developed a comprehensive software license management service slms offering for federal agencies. Bim35805 explains that the treatment of a single payment for a software licence as capital expenditure or revenue depends on the role in economic terms that the software plays in the business.
Offer software through bpas why offer software through software bpas. The consolidated statements of net cost presents, by major program and activity, the revenues and expenses incurred to provide goods and services to our customers. These enhancements of existing agreements reduce the costs and complexities involved with federal acquisition of. How gsa schedule 70 can help you win government it contracts. Gsa program will offer agencies the tools to track the software being used on their networks in an asaservice model. Our goal is to help increase governments effectiveness through better communication and collaboration. In addition, federal agencies spent the majority of their it procurement dollars through three special item numbers sin on it schedule 70 in fy15. One untapped source of funds cios should evaluate for savings potential is software licensing. Akumina announces its digital workplace software platform is now available on gsa schedule 70 enables federal, state and local government agencies to.
Welcome to gsa interact, an open, collaborative community for connecting, communicating, learning and engaging across gsa topics. Akumina announces its digital workplace software platform. Gsa piloting software license management asaservice. It schedule 70 frequently asked questions faqs for. New revenue guidance implementation in the software industry. It schedule 70 business volume by the numbers the gsa blog. Lost profits, business, revenue, goodwill or anticipated savings, or.
A software license does not engage employees to perform a task hence, not a service contract. In fact, most federal activities do not generate revenues to. Income earned by a company for allowing its ed or patented material to be used by another company. Higher revenues are most noticeable in the acquisition services fund asf. Software license training class is whether software maintenance is a supply or a service. A license is delivered so to speak to the customer and kept in the agencys files. Revenue recognition within the software industry has historically been highly complex with much industryspecific guidance. When is software maintenance considered a product by gsa. Visit the it software hallway on the acquisition gateway to find and compare all it software offerings from gsa.
Software blanket purchase agreements bpas allow industry partners to sell software to the entire federal community with the best available terms, conditions, and prices as compared to gsa multiple award schedules or existing bpas. What is the difference between software maintenance as a product vs. Special item number 233 perpetual software licenses. The new revenue standards asc 606 and ifrs 15, revenue from contracts with customers replace industryspecific.