Account number - A six-digit number assigned to a department or financial unit to record revenues, expenditures or balance sheet activity.

Action/Context Line - The top line of a FRS screen in which the screen number, account number or other data may be required.

Automatic Budget Reallocation (ABR) - The automatic update that FRS uses to deduct expenditures and encumbrancesrom a budget and net the budget balance available.

Budget - The financial plan that carries out the policies and goals of a department.  A plan for earning or expending funds.

Budget Balance Available (B.B.A.) - B.B.A. is computed as the budget less actual expenditures and encumbrances.

Budget Transfer - Moving budgeted funds from one account or object to another.

Credit - In FRS credits are entries with a negative (-) sign on the right side of the dollar amount.  Credits:

    •Increase fund balances and liabilities
    •Increase revenues
    •Decrease expenses
    •Decrease budgets

Debit - In FRS debits do not have a sign on the right side of the entry.
Debits:

    •Decrease fund balance and liabilities
    •Decrease revenues
    •Increase expenses
    •Increase budgets

Domain - Account or range or accounts that fall within a users area of access.

Encumbrance (Open Commitment) - A reservation of funds to meet obligations.  In FRS encumbrances are usually associated with purchase orders or requisitions.

Expense - An obligation paid by a department.  Expenses decrease fund balance.

Field - An area on an FRS screen which holds a specific type of data and which holds a limited number of characters.

FRS - Financial Records System.

General Fund - At Elizabeth City State University, this describes accounts supported by state appropriations and often referenced as State funds. (Account numbers 2-XXXXX)

Journal Entry - An entry required to move funds from one account to another or reclassify activity from one account to another.

Liquidation - The reduction of an encumbrance.

Object Code - Digits 7-10 of the ten-digit FRS number.  The object code describes a classification of  revenue or expenditure activity.  (For example: 2-16032-2600 = Office supplies for the Financial Aid Office)

Revenue - Funds given to or earned by a department.  Revenues are deposited to the income statement as a credit (positive).  Revenues increase fund balance.

Screen - A page of specific data that may be viewed on a computer.

Transaction - A business occurrence where money is transferred or changes from one account to another.

Transaction Code - In FRS, the transaction code is a three digit code that describes the type of transaction. (Example: 048 = Expenditure via disbursement entry or check)

Trust Fund - A trust fund is an account established for deposit and disbursement of funds which are not controlled through the state budget process.

Value Based Security - Security set up to restrict an individual to his/her domain and insure that other departments cannot update or view another department’s accounts.