INVOICES WITH DISCOUNTS - 8120.1

Invoices will be paid by revolving fund checks when all of the following conditions apply:

1. The discount percentage is at least one-half of one percent
2. A minimum discount amount of $7
3. The discount period is too short to permit payment by State Controller’s Office (SCO) warrant

If time permits, agencies/departments should always submit claims to the SCO for payment by warrant. The SCO's processing time is within 15 days of receipt of a valid and correct claim, not exceeding 45 days from the agency/department’s receipt date to avoid late payment penalty fees (see SAM Section 8474 for further information). Agencies/Departments may request the SCO to expedite a claim based on their interagency agreement with the SCO.

Daily issuance of revolving fund checks to pay discounted invoices may result in several revolving fund checks to the same vendor in the same day or week. To streamline the process, agencies/departments should accumulate discounted invoices and pay weekly, or less frequently than daily, without losing cash discounts. See SAM Section 8422.100 for additional information regarding invoices and vouchers.

Revised and renumbered from 8113