Daycos News

…Normally, when an invoice reaches “Payment Initiated” status in the US Bank Payment system (formerly known as PowerTrack), it quickly moves to “Payment Settled” status. Over the last few months, we have noticed a relatively small increase in the number of invoices in Payment Initiated status that are not moving to Payment Settled status.We have discovered that the reason for the delay is an offset that has been initiated against that SCAC.
The offset is being satisfied through an eBill

…The much discussed implementation of offsets in the US Bank Payment system has begun, albeit in a small way. According to Cheryl Garcia from US Bank, the Army Claims office initiated a test of the new offset process, by initiating three separate offsets. US Bank and the Army are closely monitoring these three offsets, and if the offset functionality works as intended, TSPs can expect that the Army will move ahead with full implementation of offset on all outstanding TSP

We have written previously… about the upcoming implementation of offsets through the USBank Payment System, and the resulting threat to TSPs’ cash flow. Since then, we have had many questions from TSPs asking what they can do to verify they are not facing large offsets. We have also had conversations with government representatives about encouraging TSPs to be proactive in handling their past obligations.
The consensus seems to be that the best course of action for TSPs is to contact

As the upcoming tariffs have been published, there has been some language added to them all concerning the ability of PowerTrack to collect offsets via ebills. The language has caused considerable concern that this change will give the government the ability to directly withdraw funds from TSP bank accounts, instead of deducting the money from future invoice payments, as is done now. The specific language is below:

Currently, PowerTrack does not have the capability to process administrative offsets under the …