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Accounts Payable Advisory
Office of Operations
Bureau of State Expenditures

Advisory Number: 35
Advisory Name: Voucher Payment Terms
Date Issued: 02/10/2014 Date Last Updated: 04/30/2019

Updates to the payment terms available in the Statewide Financial System (SFS).  

Guide to Financial Operations (GFO), Chapter XII, Section 5.F.4 - Selecting the Appropriate Payment Terms

The Office of the State Comptroller (OSC) updated the list of payment terms available in the SFS.  A new payment term of “IMMED” has been added for certain payments where agencies receive volume discounts based on timeliness of payment.  Agencies are not allowed to use this term for other types of payments and must receive prior approval from OSC to use this term. Agencies should contact to request approval.

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