Business Event Type Code(BETC)

FACTSHEET

What is a BETC?

The BETC is an 8 character code used in the Central Accounting Reporting System (CARS, formerly named the GWA system) to indicate the type of activity being reported, such as payments, collections, investments, etc. This code must accompany theTreasury Account Symbol (TAS) and the dollar amounts in order to classify the transaction against the fund balance with Treasury.

BETC in effect replaces the transaction codes and standard sub-classes that were used on the old central accounting reports, such as the Statements of Transactions (FMS Form 224) and the Undisbursed Ledger and Trial Balance Reports (FMS Forms 6653 and 6654).

How many are there?

There are approximately 300 BETCs currently identified in the CARS system. About half of those BETCs are related to Non-Expenditure, Borrowing, and Warrant transactions. Since those authority types of transactions are processed directly in the CARS’ Agency Transaction Module (ATM), those BETCs are automatically assigned behind the scenes within ATM.

The other half of the BETCs are related to Payment and Collection transactions. Those BETCs will be reported through interfacing systems, such as IPAC, PAM/SPS, or TRS. This means that agencies will be required to provide those payment and collection BETCs when reporting transactions through the interfacing systems.

What are the BETCs agencies need to know?

Click here to display BETCs applicable for payments and collections. The first tab of this spreadsheet lists the standard BETCs, while the second tab lists the unique or exception BETCs which are assigned only to a single or small set of TAS.

The explanation of each column in the spreadsheet follows:

• BETC: the 8 character code identifying the business event.
  
  
• BETC Description: the title or short description of the business event type code. These titles will appear in the Account Statement, Transaction level screens. The intent is to provide a better, more intuitive description of the transaction being displayed, as opposed to the current numeric codes.
  
  
• Debit or Credit Indicator: identifies whether the BETC has a debit (decreasing) or credit (increasing) impact on the TAS’ fund balance with Treasury.
  
  
• IPAC Payment or Collection Indicator: in the Intragovernmental Payment and Collection (IPAC) system, this indicates whether this BETC is for the payment or the collection side of an IPAC transaction.
  
  
• Related Adjusting BETC: identifies the BETC with the adjusting (or opposite) Debit/Credit impact, for use in IPAC adjustments or TAS reclassifications.
  
  
• Undisbursed Transaction Code (TC) and Standard Subclass (SC): codes that are used in the old processing of transactions via Treasury's central accounting system (STAR) and were being presented in the old Undisbursed Ledger Report (SF 6653). These 2 columns are presented as a crosswalk between each new BETC in CARS/GWA to its corresponding old TC and SC in STAR.
  
  

How do I know which BETCs to use?

Agencies are assigned TAS, and TAS are assigned business events, as defined by legislation. For example, if an Agency is legislated investment authority, then their appropriate TAS will have the BETC of “INVTSEC” assigned to it, thereby allowing them to report investment transactions. The existing TAS BETC relationships are available on the following websites:

https://www.sam.fms.treas.gov/sampublic/tasbetc.htm

http://www.fms.treas.gov/gwa/ref_guidance.html

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