CARS Includes:
- Financial management and accounting information across federal program agencies
- Bureau of the Fiscal Service processes related to ledger accounting for each appropriation, fund, and receipt account's fund balance with Treasury
- General ledger accounting for government cash and monetary assets
- Monthly Treasury statements and the U.S. Government Combined Statement and Appendix.
What does CARS do for you?
- Provides streamlined agency reporting.
- Supports government wide standardization.
- one place to record and retrieve data and information from Treasury.
- get transaction detail to support research and reconciliation.
- Enables agencies to classify payments, collections, and intra-governmental transactions upon creation.
- Accounting classification Treasury Account Symbol-Business Event Type Code (TAS-BETC) reported within all CARS transactions.
- Provides agencies with better tools and more timely data to manage their Treasury Accounts.
- Reduces turn-around time for agency monthly accounting statements.
- One Treasury Account Symbol (TAS) format, eliminating costly and vulnerable crosswalks.
- Produces and distributes budgetary reports such as the Monthly Treasury Statement (MTS) and Combined Statement (CS) Reports.
- Supports agency reporting in Component TAS format.
- Keeps governmentwide financial information accurate and up-to-date.
- Eliminates the multiple levels of reconciliation previously required to validate central accounting system fund balances.
- Minimizes data redundancy and enhances data sharing between the Fiscal Service central accounting system, financial service provider systems, and your agency's core financial systems.
Commissioner Gribben reaches out to Agency CFOs regarding modernization initiatives.
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