Business Event Type Code(BETC)

FACTSHEET

What is a BETC?

The BETC is an 8 character code used in the GWA system to indicate the type of activity being reported, such as payments, collections, borrowings etc. This code must accompany the Treasury 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 are currently used on the central accounting reports, such as those used on 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 250 BETCs currently identified in the GWA system. About half of those BETCs are related to Non-Expenditure, Borrowing, and Warrant transactions. Since those types of transactions are processed directly in the GWA system through their applicable GWA modules, those BETCs are automatically assigned behind the scenes within each GWA module.

The other half of the BETCs are related to Payment and Collection transactions. Those BETCs will be reported through interfacing systems, such as IPAC. 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 explanation of each column follows:

• BETC: the 8 character code identifying the business event.
  
  
• Business Events/Activity Types: 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.
  
  
• IPAC Payment or Collection Indicator: indicates whether this BETC is for the payment of the collection side of an IPAC transaction.
  
  
• Account Statement Category: tells which category a BETC would be displayed within the Account Statement (AS) application. These categories parallel or tie back to the same line items on the original Undisbursed Trial Balance Report (SF 6654), with one exception -- the Net Disbursements on the SF 6654 can now be broken out between Gross Disbursements and Offsetting Collections on the AS, or can continue to be displayed as Net, if preferred.
  
  
• Undisbursed Trans Code (TC) and Subclass (SC): codes that are used in the current processing of transactions via Treasury's central accounting system (STAR) and currently being presented on the Undisbursed Ledger Report (SF 6653). These 2 columns are presented as a crosswalk between each new BETC in GWA to its corresponding old TC and SC in STAR.

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