FRS - Financial Records System. 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. The object code describes a classification of revenue or expenditure activity. Revenue - Funds given to or earned by a department.
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. Trust Fund - A trust fund is an account established for deposit and disbursement of funds which are not controlled through the state budget process.