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Department Transfers

There are occasions when departments are required to transfer funds from one department to another. Some transfers are for expenses that one department incurs but are the responsibility of another department. These transfers are requests for reclassification of receipts or disbursements. Transfers of this type are indicated by a transaction code of 060 on FRS screen 023. The effect of reclassification of receipts or disbursements on account balances is to increase account balances with a credit entry and decrease account balances with a debit entry.

Financial Responsibilities of Budget Managers

A budget manager, as defined by Loyola University New Orleans, is anyone named as the responsible individual for an active account. Budget managers may have budget responsibility for more than one active account. The following sections outline some of the responsibilities and financial duties of a budget manager named on a department, agency, center, grant, or any other unit account that has a budget.

Budget Process & Oversight

Bank Accounts

Use of Loyola's Name on Bank Account

Loyola University maintains multiple bank accounts for various business purposes. These accounts are registered under Loyola's name and Corporate ID number and include only signers that are listed in our current Corporate Banking Resolution approved by the Board of Trustees of the university. Due to various tax and regulatory ramifications, the use of Loyola University in the name of an account or the use of Loyola University's Corporate ID number for any other bank account is prohibited.

Payroll vs. Accounts Payable

It is extremely important that any payment for work done by a student or employee of the university be processed through Payroll rather than through Accounts Payable. All payments to students or employees must be paid via PNF through the Payroll department. Payments to individuals are processed via check request in the Accounts Payable office.

FRS At A Glance

Accessing FRS

  1. Open QWS mainframe software.
  2. Input m2840, then press enter.
  3. Input your user name & password into the appropriate fields and press enter.
  4. Type zctl and press enter.

This will bring you to a selection of systems. To access the FRS system type FRS in the selection field.