A Short Checklist for Determining Your Agency’s GTAS Preparedness
Brace yourself! The time to switch to the Government-wide Treasury Account Symbol Adjusted Trial Balance System (GTAS) is almost upon us! As Treasury states, “Effective the first reporting window of FY 2015, all federal agencies are required to have transitioned to GTAS.”
We know you’ve heard the story: GTAS is now the primary means of reporting agency trial balance data, replacing the FACTS I, FACTS II, IFCS, and IRAS reporting systems. With GTAS as the single data collection system, the federal government will see more consistent and complete financial data and improved analytical reporting.
But how do you know if your agency is ready for this change? Here is a short checklist of questions you can use to assess your agency’s preparedness for the switch to GTAS:
- Is my agency is using a standard web browser (e.g., Microsoft Internet Explorer)?
For most agencies, the answer will be yes. The use of standard web browsers throughout the federal government is pervasive. But use of a standard web browser is required for GTAS.
- Has my agency’s accounting system been updated to meet the bulk file data requirements?
GTAS requires a specific format for the submission of the bulk data file. Be sure to review Treasury’s information about the required fields and the submission process.
- Do users understand the data edits and validations that will be run against the agencies adjusted trial balance?
Data edits and validations ensure the completeness and accuracy of trial balance data. GTAS will not accept an agency’s trial balance if required data edits and validations are not passed. Users can visit the Treasury online to view several informative reports about GTAS data validations and accounting edits.
With these adjustments, your agency will be much better equipped for the changes coming this year and in FY 2015. For complete information about implementing GTAS, visit the Bureau of the Fiscal Service GTAS website.