Accounts Payable Advisory No. 59

Accounts Payable Advisory
Office of Operations
Bureau of State Expenditures
Advisory Name
Prompt Payment Interest Calculator Tool
Date Issued
11/06/2018
Date Last Updated
03/30/2026

Subject:

The Prompt Payment Interest Calculator Tool was updated to reflect the 5% interest rate that is effective on April 1, 2026. Agencies should use this updated version going forward to accurately calculate prompt payment interest.

Reference:

Guide to Financial Operations (GFO), Chapter XII, Section 5.I – Prompt Payment Interest Calculations and the Prompt Payment Interest Calculator.

 

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