The payment period starts only when the agency receives a proper invoice that includes all required information.
This means what to buy for wedding shower gift that the discount period starts the 08/01, giving the purchaser more time to pay and take the discount.
The agency must give all reasons why the invoice is not proper and why it is being returned request a corrected invoice that is clearly marked as such.
Usually, it is not possible for an agency to know if the EFT information is correct until it tries to pay the invoice.What might keep an invoice from being proper?If a payment is rejected because the EFT information is not correct, the agency has an additional 7 days after receiving the correct EFT information to make a timely payment.(If the invoice is postdated, we will use the postdated date to calculate the Final Discount Date and Net Payment Date.).Do other governments' regulations about interest for late payments take precedence over the federal Prompt Payment Act?An agency may use electronic invoices and other computer-related media in place of paper documents to speed up payments as long as adequate safeguards and controls are in place to ensure the integrity of the data.If an invoice does not have all the information that the agency required, the invoice is not valid or complete.What if the EFT information is not correct?How soon must an agency return an improper invoice?This office may be different from the office that issues the payment.For instance, an invoice may be dated 07/25 AS OF 08/01.If the agency pays by EFT, the agency must have the vendor's Taxpayer Identification Number (TIN) and EFT information.However, because the problem was caused by the vendor's incorrect EFT information, the agency has until December 17 to pay on time and have no interest to pay.This ordinary dating method is usually expressed as 2/10, n/30 or 2/10, net 30 which means that a 2 discount applies if the invoice is paid within 10 days of the invoice date.An invoice is deemed "received" and the appropriate guildcraft discount code payment period starts on the latter of these two dates: the date the agency marks the invoice with the date of receipt the 7th day after the date on which goods are delivered or services are completed.