The Financial Records System (FRS) Office is the data custodian for FRS data and reporting. This area is responsible for daily, monthly, and yearly system checks and balances to maintain data integrity. The FRS Office is responsible for overseeing various year-end system processes such as Chart of Account creation and purge, payroll encumbrance initialization, encumbrance reversals and carry forward, fiscal and project closing and FRS dataset creation and archiving. This area is the network administrator and webmaster for the Controller’s Office.
Month End Closing
Month-End close is the processing of transactions at the end of each month. These processes are performed for a particular month to ensure that all transactions are posted and reflected on reports. The month is generally closed every third business day of the following month. A bulletin board with the specific month end closing dates is referenced within.
Year End Closing
An accounting procedure undertaken at the end of the year to close out business from the previous year, carry forward balances from the previous year. Year-end closing is part of a company's closing operations, and is used to create a company's financial statements. A year-end calendar showing the deadlines and other year-end closing activities, is referenced below.