Government Invoicing solution goes live within the LMP
The Logistics Modernization Program (LMP) Product Management Office (PMO), the Army Shared Services Center and Army Materiel Command (AMC), in partnership with the U.S. Department of the Treasury and the Deputy Assistant Secretary of the Army for Financial Operations and Information (DASA-FOI), successfully implemented the Government Invoicing (G-Invoicing) solution into the LMP system on March 25, 2024. This milestone marks the availability of G-Invoicing to all LMP users and signals a new era of efficiency and transparency for intragovernmental, reimbursable financial transactions executed in LMP with AMC’s federal trading partners.
In 2012, the Treasury recognized the lack of integration among government organizations, including the Army, in procurement and sales processes. G-Invoicing addresses this gap by integrating systems across different agencies, ensuring that financial transactions are accurately tracked, managed and reconciled on both ends of the transaction. In 2022, the Treasury mandated that all military services use G-Invoicing for intragovernmental buy/sell transactions.
The Treasury’s G-Invoicing process allows the buying agency to confirm the receipt of goods or services from the selling agency, address discrepancies in services and quantity of goods received from the invoiced amount and automate the settlement of payable/receivable amounts through funds disbursement in the Treasury’s G-Invoicing system. Put more simply, the accounts payable at one organization seamlessly matches the accounts receivable at another organization, leading to reconciled accounting for both financial system ledgers. This harmonization not only simplifies transactions but also enhances accountability and fiscal oversight within the government ecosystem for all organizations.
G-Invoicing plays a pivotal role by establishing an auditable financial and logistics management process for intragovernmental transactions, aligning with the Treasury’s Federal Intragovernmental Data Standards. With its implementation, G-Invoicing provides full transparency to intragovernmental buy/sell transactions and expedites accounting and reconciliation activities across all government organizations. Notably, G-Invoicing replaces the antiquated Form 448 Military Inter-Departmental Purchase Request process for reimbursable transactions with the modern 7600 A&B framework.
With go-live, the LMP now seamlessly integrates with G-Invoicing by implementing 14 interfaces and business process functionalities with the Treasury G-Invoicing Portal. In all, LMP data now supports the streamlining of transparent and efficient intragovernmental financial transactions across a diverse array of agencies and departments.
LMP is part of Program Executive Office Enterprise Information Systems’ Defense Integrated Business Systems portfolio.
Related News
-
Army navigates challenges to deliver modernized GFEBS G-Invoicing solution
November 15, 2024U.S. Army Program Executive Office (PEO) Enterprise and the Office of the Assistant Secretary of the Army for Financial Management & Comptroller (ASA-FM&C) are continuing to modernize the General Fund Enterprise Business System (GFEBS). -
Army reaches another key milestone with its modernized contract writing system
November 4, 2024U.S. Army Program Executive Office (PEO) Enterprise and the Office of the Deputy Assistant Secretary of the Army for Procurement (ODASA(P)) recently achieved another key milestone with the modernized Army Contract Writing System (ACWS). -
FMS-ACES moves into execution phase
October 25, 2024After a five-month competitive prototype phase, PEO Enterprise’s Foreign Military Sales – Army Case Execution System (FMS-ACES) received authorization Sept. 20 to move into the execution phase of the Software Acquisition Pathway.
Work for Us
Join a winning team! Search for job opportunities with PEO Enterprise.
Work with Us
Help support important missions. Explore ways your company can work with PEO Enterprise.