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Accounts Payable Advisory
Office of Operations
Bureau of State Expenditures

Advisory Number: 59
Advisory Name:

Prompt Payment Interest Calculator Tool

Date Issued:

11/06/2018

Date Last Updated: 01/07/2019
Subject:
The Prompt Payment Interest Calculator tool has been updated for agencies to input the payment method (i.e., check, ACH). Agencies should use this updated version going forward to accurately calculate prompt payment interest.

Reference:
Guide to Financial Operations (GFO), Chapter XII, Section 5.I.2 – Prompt Payment Interest Calculations and the Prompt Payment Interest Calculator.


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