Treasury Department attempting to recuperate €1.5 million in double payments to suppliers

The Treasury Department is attempting to recuperate €1.5 million in monies, funds paid twice by error to suppliers who rendered services to the government. 

"It resulted that a small number of suppliers were paid twice for the same invoice. The total amount of these double payments is around €1.5 million.

"The Treasure Department has taken immediate measures to recuperate these funds from suppliers who have been cooperating fully in returning monies that were not due to them," the Finance Ministry said in a statement on Friday.

The department is currently conducting a pilot project for ministries and departments to switch to accrual accounting. Such novel changes did not come without technical issues, which are currently being addressed. 

Accrual accounting records revenues and expenses when they are incurred, regardless of when cash is exchanged so that entities can keep track of how it is performing before payments are even effected.