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eXpendit

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Prompt Payment – USAS Instructions
Notification and Review of Interest Paid

The document numbers for interest transactions include:

  • I (for Interest),
  • The three-digit Julian date, and
  • A four-digit generated identifier.

The generated transaction using T-code 387 has the same vendor number and mail code as the principal payment transaction.

The principal and interest transaction are cross-referenced on the history files:

  • The reference document number of the interest transaction will show the principal payment transaction's document number/suffix.
  • New fields on the principal payment transaction will show the interest amount and interest document number/suffix.

Both principal and interest transactions are viewable on the accounting event inquiry screens (shown together on the 85 and 86 screens):

The Late Payment Interest Rate Profile (D98) allows agencies to inquire on the rate of interest used to pay vendors on late payments.

The Document Tracking Inquiry (37) screen provides information related to interest on the document tracking records for the principal payments.

The Single Payment Cancellation (44) screen reflects both the principal and interest transactions when the principal transaction document is recalled.

Note: Interest payments are reflected in TINS the same as other payments.

Control reports and many requestable reports from USAS reflect interest transactions, depending on detail, format and sort criteria. Extract files contain both principal and interest transactions.

See also: Reports to Track and Research Late Payments

Definitions

Payment
Money owed to a vendor.
State agency
  • A board, commission, department, office or other agency in the executive branch of state government created by the constitution or a statute of this state, including an institution of higher education as defined by Texas Education Code Section 61.003.
  • The Legislature or a legislative agency.
  • The Supreme Court, the Court of Criminal Appeals, a court of appeals, a state judicial agency or the State Bar of Texas.
Vendor
A person who supplies goods or a service to a state agency or another person directed by the agency. The term does not include a state agency, except for Texas Correctional Industries. The term includes an officer or employee of a state agency when acting in a private capacity to supply goods or a service.