Currently intra-governmental collections are accomplished using which system?

Study for the Certified Defense Financial Manager (CDFM) Exam 1. Engage with flashcards and multiple choice questions, with hints and explanations for each query. Prepare confidently for your exam!

Multiple Choice

Currently intra-governmental collections are accomplished using which system?

Explanation:
Intra-governmental collections are internal payments between federal entities, routed through a centralized system to settle obligations across agencies. The system used for this is IPAC—the Intra-Governmental Payment and Collection System. IPAC automates cross-agency billing and funds transfer, posting receipts and disbursements to the correct agency accounts to support accurate cash management. GSA, EFT, and WAWF serve different purposes. GSA deals with procurement-related activities, EFT is a general electronic funds transfer method rather than a dedicated interagency collection system, and WAWF (Wide Area Workflow) handles DoD vendor payment workflows rather than intra-governmental collections.

Intra-governmental collections are internal payments between federal entities, routed through a centralized system to settle obligations across agencies. The system used for this is IPAC—the Intra-Governmental Payment and Collection System. IPAC automates cross-agency billing and funds transfer, posting receipts and disbursements to the correct agency accounts to support accurate cash management.

GSA, EFT, and WAWF serve different purposes. GSA deals with procurement-related activities, EFT is a general electronic funds transfer method rather than a dedicated interagency collection system, and WAWF (Wide Area Workflow) handles DoD vendor payment workflows rather than intra-governmental collections.

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