OTCnet Develops Release 1.3 to Support GWA's Central Accounting Reporting System

By Tameka Leonard, OTC Revenue Collection Division

OTCnet and CCMM

The Financial Management Service's (FMS's) Over the Counter Revenue Collection Division developed the Over the Counter Channel Application (OTCnet) to bring a robust business line capable of handling agency cash and check deposits into one application. OTCnet integrates the functionality of Paper Check Conversion Over the Counter (PCC OTC) and the Treasury General Account Deposit Reporting Network systems. This system ensures that FMS meets the federal agency deposit and reporting business needs seamlessly using one application, in both domestic and foreign environments.

OTCnet is a key component of the Collections and Cash Management Modernization (CCMM) initiative. The system supports simplifying the collection process and eliminating duplicative functionality. OTCnet also provides access to centralized detailed collection information, making it easier for stakeholders to do business with the government.

OTCnet, along with the other Treasury systems and programs, will continue to evolve to meet current and future agency needs, as exemplified by the upcoming OTCnet Release 1.3.

OTCnet 1.3 and the Central Accounting Reporting System

The OTCnet Release 1.3 was developed to support the Government-wide Accounting (GWA) objectives: to capture accounting classification information at the earliest possible time, streamline the central accounting and reporting, eliminate the need for burdensome reconciliation, and provide timely Fund Balance with Treasury information to federal agencies.

To accomplish the above goal, OTCnet is designed to capture accounting classification information at the point of check capture and provide the information to the Transaction Reporting System (TRS), which then transmits the information to GWA's Central Accounting System (CARS) on a daily basis.

Currently, OTCnet captures classification information for transactions processed through the deposit reporting function. Release 1.3 will extend this capability to the check capture function.

Standard classification information can be in the form of a Treasury Account Symbol (TAS) of a Classification Key, which is an internal agency accounting code. The internal accounting codes will be linked to valid TAS and Business Event Type Codes (BETCs) in Government-wide Accounting. To learn more about CARS, visit www.fms.treas.gov/cars/index.html. OTCNet 1.3 is scheduled for release September 2012.

OTCnet and the Transaction Reporting System

OTCnet Release 1.3 will enable data sharing with TRS, the transactions broker and data warehouse for agencies. Currently, OTCnet reports summary-level deposit reporting data to TRS. With Release 1.3, OTCnet will begin reporting summary and detailed data for both check capture and deposit reporting to TRS. TRS will report this transaction information to CARS and agencies, consolidating and streamlining the transaction reporting for all over-the-counter collections. To learn more about TRS, visit www.fms.treas.gov/trs/index.html.

The below graphic shows the relationship between OTCnet, TRS and CARS:

Graphic: relationship between OTCnet, TRS and CARS

While FMS advances OTCnet, along with all CCMM programs and systems, agencies should keep in mind that by Oct. 31, 2012, all FPAs must convert from PCC OTC or CASHLINK II to OTCnet.

Over the next several months, FMS will continue coordination and communication efforts with agencies to discuss strategies, implementation timelines and the support necessary to achieve success. For more information on CCMM, visit www.fms.treas.gov/ccmmor contact the CCMM team at ccmm@fms.treas.gov.

   Last Updated:  July 26, 2012