Central Accounting Reporting System
The Central Accounting Reporting System (CARS) handles accounting and reporting for all federal agencies.
The Central Accounting Reporting System (CARS), is the electronic system of record for the government’s financial data which provides streamlined agency reporting and supports government-wide standardization.
Along with Governmentwide Treasury Account Symbol Adjusted Trial Balance System (GTAS) and Intra-Governmental Payment and Collection (IPAC), CARS is a system which falls under Governmentwide Accounting (GWA).
What’s New in CARS:
The CARS application will have a new look and feel and several new features coming in December. Read about the updates in the following documents:
Join us for a webinar and demo about the new updates to CARS! Register today.
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 government-wide 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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gwa@stls.frb.org877-440-9476