Accounts Payable Advisory No. 59

Accounts Payable Advisory
Office of Operations
Bureau of State Expenditures
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.