Issue Date:
Revised Date:

Object Type

Cash — Other Expenditures

Reference

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)

Note

USAS Values

Appropriation Year 20
USAS Title PROMPT PAYMENT INTEREST
Object Group 10 – Expenditures
USAS Status A
Rev/Exp Category 04 – OTHER EXPENDITURES