FINANCIAL RECORDS SYSTEM

The Financial Records System (FRS) is an on-line integrated financial accounting system that records, monitors and maintains all accounting and financial transactions of the University. FRS interfaces with the Alumni Development System (ADS), the Human Resources System (HRS), and the Student Information Management System (SIMS).

Access Requests
Account Numbers
Department Codes - Alpha Listing
Department Codes - Numerical Listing
Executive/Division Codes
Inquiry Screens
Log-On/Log-Off Instructions
Object Codes
On-Line Requisition Screens
Subsidiary and General Ledger Definition
System Help and Hours

Account Numbers

The elemental unit of FRS is the "account". An account is the lowest level of a discreet activity whose financial transactions are to be recorded, monitored and maintained separately from all other accounts. There is generally one individual who is responsible for an account. The Principal Investigator is always the responsible party on research grant and contract accounts.

An account is represented by a six-digit numeric value indicating the ledger to which it is assigned and a sequential number within the ledger.

Descriptive attributes have been assigned to each account to identify the account and its purpose. These attributes include the account title, description, purpose, and the individual who is the responsible party for each account. In addition, attributes which identify the ownership of the account must be identified for reporting purposes and to enable controlled access to FRS. These identifying attributes are specified below:

Management Structure: Two-digit number identifying the primary University officer responsible for the account's financial activity.

Executive Code: Two-digit number identifying the University President or Vice President who is institutionally responsible for the account. Within each executive code are division codes.

Division Code: Two-digit number identifying the division to which the account is assigned. Within each division code are departmental codes.

Departmental Code: Three-digit number identifying primary department to which an account is assigned.

Financial data including budget, revenue and expenditure totals for the current and the prior fiscal year, as well as year-to-date totals and itemized transactions are recorded for each account. This information which is summarized on various FRS screens and financial reports, is utilized to prepare the University's financial reports.

Object Codes

An object code is a four-digit numeric value that defines the specific type of revenue source and/or expenditure within an account.

Standard object codes have been established for all accounts. For purposes of summarizing data across the University, standard codes for revenues and expenses must be used consistently for the designated purpose by all departments.

More detailed object codes may be created at the user's discretion to further subdivide types of revenues and expenditures. The proper use of these user defined object codes will provide the user with maximum flexibility of object code assignments. Care should be taken when assigning values to user optional codes to assure that the assignment made accommodates the specific needs of the user, and is consistent with the summary title description on the object code listing.

Definition of Subsidiary and General Ledgers

All accounts are contained either in the general ledger or the subsidiary ledger of the University's FRS accounting system. The general ledger records contain all of the University's assets (cash, receivables and others), liabilities (accounts payables, long term debt, and others), and the fund balance. Every general ledger account is self-balancing so that assets equal liabilities and fund balance.

The subsidiary ledger records contain the revenues, expenditures and transfers of each account. For the unrestricted fund group, there is a separate subsidiary ledger for revenues and expenditures. All of the other fund groups' subsidiary ledgers include revenues, expenditures, and transfers.

The general ledger and subsidiary ledger accounts have a predefined relationship designed into the FRS accounting system. This relationship allows either one subsidiary account or a group of subsidiary accounts to relate to one general ledger account. Any transaction posted to a subsidiary account is automatically posted to its related general ledger balance sheet account.