Collections are normally made quarterly on fixed price agreements and monthly on time and materials agreements. The Customer Agreement System dictates the actual billing standards and some customers have made arrangements for more frequent billings.
The following information is needed: accounting string must be complete with fund, organization code, program, job and reporting category; period of performance; customer and providing agency information; signatures from both the customer and the providing agency; any special collection instructions in Block 8 of the agreement.
An official modification is required for the following circumstances:
The original amount of the agreement needs increased or decreased;
The Period of Performance needs changed;
The ALC associated with the Customer or Providing Agency is incorrect;
If the accounting string information needs changed to a different line.
The Over the Counter Channel (OTCnet) application is a web application that lets federal agencies manage and report all check and cash deposits in one place.
OTCnet automates the over-the-counter deposit process, captures detailed accounting information and makes the classification of Treasury collections easier.
Agency users report receipts through a secure web-based application rather than by using paper-based credit vouchers.