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Foreign Vendor Information

The General Accounting Division (GAD) has established a separate payment distribution type (PDT Code 90) for Foreign Currency Transfers (FCT). FCT are transmitted as FED Wires and each currency must be purchased in advance by Banking Services in the State Treasurer's Office (STO).

PDT Code 90 for FCT will be set in the Vendor Mail Code Profile (Screen 51) by the GAD after the STO purchases the foreign currency and approves the GAD X-10 form. State agencies that enter PDT 90 in the disbursement transaction, (Screen 505) will be limited to the agencies that submitted the foreign currency purchase requests and are named on the GAD X-10 Forms approved by the STO and GAD.

When preparing the disbursement transmittal, the agency must include two copies of the X-10 form "Electronic Funds Transfer Request Authorization" approved by the GAD & STO. There is no process in R*STARS to default failed FED Wires to checks, and it is very difficult to recover funds that are transmitted via FED Wire, so the X-10 bank information must be accurate.

Since these funds sent by FED Wire are transmitted to a foreign country, the agency must also include a second copy of the foreign vendor's invoice for the GAD to forward to the STO.

The agency will input the transaction. When keying the batch header, the disbursement method indicator (DMI) will be "M" for Manual. The PDT will be 90 for FCT. The due date must be immediate. These transactions must be entered as a direct voucher from R*STARS. ADPICS will not allow this entry. The transaction code (TC) should be 245 for expenditures or 246 for a revenue reduction.

Agencies do not fill the Warrant Number with seven "1"s. The Warrant Number (Payment Number) must be left blank for FED Wires, so the system can automatically fill the field during the payment processing cycle.

After the agency transmits the documents on-line, they will submit to GAD:

  • Two copies of the DAFM03R Transmittal Cover Sheet
  • Supporting documents (Invoices)
  • Two copies of the X-10 form
  • Three copies of the Emergency Remittance Advice that are annotated 'FCT' in the Emergency Check Number space.
  • A second copy of the foreign invoices.

The system assigned Warrant Number (payment number) will be recorded on screen 44, 84, 85, & 86 after the AC 749 is appended and the system batch cycle is run. It will be nine characters: X, the last two digits of the fiscal year, followed by six sequential numbers starting with 000001 (e.g., X97000001).

The STO Banking Services will use the X-10 bank information which should match the bank information in the Vendor Mail Code Profile, and the foreign currency they have purchased to wire the payment.



 
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Foreign Vendors
 
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