State of Texas – Fiscal Management

Manual of Accounts

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Expenditure Object 7806 – Interest On Delayed Payments
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Object Type: Cash — Other Expenditures
Reference:
Issue Date:
Revised Date:

Description


To record the payment of interest due on late payments under provisions of the Prompt Payment Act.

Expenditure code 7806 includes, but is NOT limited to:

  • Interest (prompt pay)
  • Penalty/Interest on Delayed Payments
  • Prompt Pay (interest)


Notes




USAS Values


Appropriation Year 26
USAS Title PROMPT PAYMENT INTEREST
Object Group 10 – Expenditures
USAS Status A
Rev/Exp Category 04 – OTHER EXPENDITURES



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