Revised: 04/11/2016
Maintaining ISTV Process |
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Intrastate Transfer Vouchers (ISTVs) are used by state agencies to invoice other state agencies, or other departments within the selling agency, for goods or services provided. ISTVs are created using processes from multiple financial modules (Accounts Receivable and Accounts Payable) to manage all billing, payment and deposit activities between agencies.
Accounts Receivable is the selling agency in an ISTV transaction. Accounts Payable is the buying agency.
A selling (billing) agency creates an ISTV pending item (receivable) in Accounts Receivable. The selling agency reviews the pending item and corrects any errors, if necessary.
The buying agency receives the ISTV invoice and processes it in Accounts Payable. A voucher is created, which corresponds to the invoice, and then the voucher goes through the necessary approvals and budget check.
In the final step, the ISTV payment is sent electronically from the buying agency and processed by the selling agency in Accounts Receivable. The AR Payment Predictor process matches the payment with the pending item (receivable).
OAKS FIN will allow the selling agencies and buying agencies to see the status of vouchers by using the ISTV Viewer Page. This page enables Accounts Receivable and Accounts Payable agency staff to view and track ISTV transactions through the entire ISTV cycle.
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