Intra-governmental Payment and Collection (IPAC) System (Rev. 11787; Issued:01-

70.14.2 - Intra-governmental Payment and Collection (IPAC) System (Rev. 11787; Issued:01- 19-23; Effective: 04-21-23; Implementation:04-21-23) The collection report generated from the IPAC system includes a break out of principal and interest collected on individual debts; however, the report does not show the balance and the status of the debt after the collection. Treasury calculates interest on a daily basis while CMS calculates interest monthly. Therefore, the amount of interest collected by Treasury or its PCAs may not equal the amount of interest shown as accrued by the contractors.