G-Invoicing is the long-term solution for Federal Program Agencies (FPAs) to manage their intragovernmental (IGT) Buy/Sell transactions. G‑Invoicing helps (or will help) agencies and their trading partners:
- Negotiate and accept General Terms and Conditions (GT&C) agreements
- Broker orders
- Exchange performance information
- Validate settlement requests through IPAC
FPAs must implement G-Invoicing for New Orders by October 2022. The mandated implementation deadline of October 2022 for New Orders includes Orders with a Period of Performance beginning October 1, 2022 or later.
FPAs must implement G-Invoicing for "In-Flight" Orders by October 2023. The mandated implementation deadline of October 2023 for "In-Flight" Orders includes the conversion of Orders with an open balance and a Period of Performance extending beyond September 30, 2023.
FPAs must submit quarterly implementation status updates to Treasury by providing updated plans and/or Attachment As to the IGT mailbox (IGT@fiscal.treasury.gov).
Treasury will help agencies get ready for and start using G-Invoicing. (See more on the Enrollment page.)
Benefits of G-Invoicing
Better communication between trading partners: Using G Invoicing to communicate, trading partners share a common platform and a clear record of their negotiations.
Transparency: G-Invoicing supports each phase of the IGT buy/sell lifecycle. This common repository will decrease differences between agencies.
Common data standard: G-Invoicing replaces the various terms and forms that agencies now use. Standard terms reduce misunderstandings.
Agreed-upon processes: Common processes support timely and accurate accounting.
Streamlined settlements of funds in IPAC: With performance reporting in G-Invoicing, trading partners can settle more quickly and efficiently.
Issue 7, January 2020
Issue 6, March 2019
Issue 5, October 2018
Stay Up to Date with G-Invoicing
Subscribe to e-mail notifications and get G-Invoicing news and updates delivered right to your inbox!Subscribe Now