Identifying ipac payments and collections
Download
1 / 16

Identifying IPAC Payments and Collections Powerpoint file - PowerPoint PPT Presentation


  • 627 Views
  • Uploaded on

IDENTIFYING IPAC PAYMENTS AND COLLECTIONS. A Guide to Identifying IPAC Payments and Collections Initiated by Debt Management Services. . IPACs in the New Accounting System.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'Identifying IPAC Payments and Collections Powerpoint file' - Olivia


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
Identifying ipac payments and collections l.jpg

IDENTIFYING IPAC PAYMENTS AND COLLECTIONS

A Guide to Identifying IPAC Payments and Collections Initiated by Debt Management Services.


Ipacs in the new accounting system l.jpg
IPACs in the New Accounting System

  • When Debt Management Services implemented the new accounting system in October 2008, changes in IPAC disbursements were noted by agencies. In addition, due to implementation and system problems at start-up, problems in identifying payments were phenomenal.

  • System updates and changes have occurred. This presentation provides the some of the more recent IPAC formats for specific IPAC payments.


Ipac returns l.jpg
IPAC Returns

  • Clients are encouraged to call DMS prior to return of IPACs.

  • Some IPACs returned to DMS are still being processed. IPACs created for re-processing may create more questions for clients.

  • IPAC re-processing can take weeks.


Ipac download information for feddebt l.jpg
IPAC Download Information for FedDebt

  • The following example shows PDF version of an IPAC for FedDebt weekly run. [Please note that FedDebt is not run weekly the last 5 days of the month. Those days are included in the first weekly run of the next month.]

  • In the example, the following fields provide information that assists in identifying the payment:

    • Purchase Order Number field indicates “FedDEBT08-MAR-2010.”

    • Transaction Description field indicates “DMSC FEDDEBT – 08-MAR-2010.”

    • Miscellaneous Information field indicates “FedDebt. For backup information, please call 1-800-858-0725.”

    • Documentation is maintained by FedDebt staff.


Ipac download information treasury offset program top l.jpg
IPAC Download Information Treasury Offset Program (TOP)

  • The following example shows PDF version of an IPAC for TOP weekly cycle run.

  • In the example, the following fields provide information that assists in identifying the payment:

    • Obligating Document Number field indicates “TOPCYC7578000000.” The number has no relevance to agency. Only the information that it is a TOP Cycle is helpful.

    • Transaction Description field indicates “DMSC TOP – 03-MAR-2010.” DMSC is the code our contractor uses to indicate this belongs to Debt Management Services.

    • Miscellaneous Information field indicates “TOP. For backup information, please contact the name and number provided in this field. 1008400119269 Creditor ALC-75030030 Count of Off/Rev.”

  • In the example, the first four numbers “1008” mentioned in the Miscellaneous Information field indicates this payment is for cycle 1008.


Ipac download information manual payments l.jpg
IPAC Download Information Manual Payments

  • The TOP Team at Liberty Center issued a manual payment memo and submitted to Accounting for payment. The term manual payment refers to the fact that DMS received a non-offset collection for a TOP debt. Once the collection is identified, an IPAC is sent to the creditor agency. The following example shows PDF version of an IPAC for a manual payment item.

  • Manual payments are issued weekly.

    • Purchase Document Number field indicates “15-MAR-2010.” No other reference is in this field.

    • Transaction Description field indicates “TOP pymnt: (name or names).”

    • Miscellaneous Information field indicates “TOP pymnt: (name or names).”


Collection ipacs l.jpg
COLLECTION IPACS

  • Collection IPACs for FedDebt have the same information that appear on payment IPACs.

  • Collection IPACs for TOP almosthave the same information that appear on payment IPACs.


Ipac download information collection ipac for feddebt l.jpg
IPAC Download Information Collection IPAC for FedDebt

  • The following example shows PDF version of an IPAC for FedDebt weekly run. [Please note that FedDebt is not run weekly the last 5 days of the month. Those days are included in the first weekly run of the next month.]

  • In the example, the following fields provide information that assists in identifying the payment:

    • Purchase Order Number field indicates “FedDebt08-MAR-2010.”

    • Obligating Document Number field indicates “FedDebt 08-Mar-201.’’ The “0” for the year “2010” does not show here.

    • Transaction Description field indicates “DMSC FEDDEBT – 08-MAR-2010.”

    • Miscellaneous Information field indicates “FedDebt- For back up information please call 1-800-858-0725.”


Ipac download information collection ipac for treasury offset program top l.jpg
IPAC Download Information Collection IPAC for Treasury Offset Program (TOP)

  • The following example shows PDF version of an IPAC for a TOP weekly cycle run.

  • In the example, the following fields provide information that assists in identifying the payment:

    • Purchase Order Number field indicates “TOP 03-MAR-2010.”

    • Obligating Document Number field indicates “TOPCYC 03-MAR-2010.”

    • Transaction Description field indicates “DMSC TOP– 03-MAR-2010.”

    • Miscellaneous Information field indicates “TOP - For backup information please contact the name and number provided in this field.”


Contact information l.jpg
Contact Information

  • Please do not return an IPAC without talking with a contact representative. If returned, the re-processing can take several weeks.

  • If IPAC indicates a TOP payment, please contact the TOP expert at the phone number provided on the payment IPACs.

  • If IPAC indicates a FedDebt payment, please contact the following with questions: 1-800-858-0725.


Identifying ipacs l.jpg
IDENTIFYING IPACs

  • QUESTIONS?


ad