Effective April 1999, a new process for handling Interdepartmental Settlements (IS) was introduced.

Interdepartmental Settlements are to be processed via the new Standard Payment System (SPS). There are some interdepartmental transactions that cannot be processed via SPS because of their external nature. Internal Journal Vouchers (IJV) are used instead. For more information on IJV see Chapter 7 of the Receiver General Manual.

A new policy for IS introduces Creditor initiated transactions. As a general rule the creditor department will initiate the IS request via the SPS. For more information see Treasury Board Secretariat (TBS).

Departments submit IS transactions to the SPS for processing and updating of the FIS Suite of Systems.

All departments are required to update their respective Departmental Financial Management Systems (DFMS) and reconcile to the Interdepartmental Settlements Control Accounts.

All departments are required to process IS in a timely fashion in order to minimize reconciliation at the Receiver General and interdepartmental levels.

Departments are required to submit a trial balance each month to the CFMRS.