The IPAC Course

Description:

The Intra-Governmental Payment and Collection (IPAC) System is one of the major components of the Government On-Line Accounting Link System II (GOALS II). The IPAC application's primary purpose is to provide a standardized interagency fund transfer mechanism for Federal Program Agencies (FPAs). IPAC facilitates the intra-governmental transfer of funds, with descriptive data, from one FPA to another. On-line transactions will be processed immediately.

The IPAC system contains multiple components which are: 1) the IPAC application; 2) the Retirement and Insurance Transfer System (RITS); and 3) the Treasury Receivable Accounting and Collection System (TRACS) interface.

Major topics include:

• IPAC collection and disbursement transactions
• IPAC adjustments and zero dollar activity
• Viewing and printing reports
• Agency special requirements and parent/child relationships
• TRACS
• End of month reporting on the FMS 224 and/or the FMS 1219/1220
• Statement of Differences (FMS 6652) caused by incorrect IPAC reporting

Who should attend:

Users of the IPAC system. Also, preparers, reviewers, accountants and anyone interested in an understanding of how the IPAC system works and can be used in reconciling interagency accounting differences.

Meets Selected Core Competencies for:

• Accountants

Prerequisites:

• None