Lesson 5: RTI and Transaction Entries

Prompt Payment Tab in eXpendit

The Payments to Other Agencies section of the eXpendit website clarifies how the prompt payment law affects ITV payments.

The law does not apply to ITV transactions because they only occur between state agencies.

Prompt Payment Laws and Scheduling

Here are some useful tips on the prompt payment law and ITVs:

• The definition of vendor does not include state agencies, except for Texas Correctional Industries.
• ITV payments are not restricted to the 30-day requirement and should be scheduled for the earliest date possible because the state does not lose any interest when ITV payments are made early.
• No interest is paid between state agencies except per a contract.
• If you have any questions about the Comptroller's policy on ITVs, please consult Interagency Payments and Receipts for Goods and Services (APS 014) that examines situations in which ITVs should be used.

Next: Learning Check 1