8113     DISCOUNT INVOICES 
(Revised 8/92)

Invoices will be paid by revolving fund checks only when a discount of at least $5 can be taken and where the discount percentage allowed is at least one-half of one percent, and when the discount period is too short to permit taking advantage of the discount if payment is made by warrant.  If time permits, agencies should always submit claims to the State Controller's Office for payment by warrant.  The State Controller's normal time for processing a claim is five days from date of receipt, but agencies may request expeditious audit and issuance of the warrant.  In this case, the State Controller's maximum processing time is three days from date of receipt.

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Daily issuance of revolving fund checks to pay discounted invoices often results in the issuance of several revolving fund checks to the same vendor in the same day or week.  Ordinarily no discount will be lost if vendors' discounted invoices are paid from the revolving fund only once weekly.  Therefore, agencies to the greatest extent practical, will accumulate discounted invoices and pay such invoices weekly or less frequently than daily to the extent that they can do so without losing cash discounts.  This may be accomplished by filing such invoices alphabetically by vendor and paying them at regularly-scheduled intervals such as vendors A-F on Monday, G-L on Tuesday, etc.  See SAM Section 8422.1, Invoices and Vouchers, for additional information.