FAMIS is an accounting system that responds to financial regulations applicable to educational institutions, in particular to the members of The Texas A&M University System (TAMUS).
All FAMIS programs access a common database that allows many different users to view and update identical information. FAMIS users can be given access to numerous on-line accounting functions. These functions are spread among four major FAMIS systems:
Financial Records Systems (FRS)
- Financial Accounting – transactions relating to financial operations such as budgets, revenues, expenses, and journal entries
- Accounts Payable – transactions relating to vendor payment including preparation of checks and files for State of Texas warrants
- Accounts Receivable – transactions relating to billing and payment receipt for goods or services rendered
- Purchasing – transactions relating to ordering, receipt and initiation of payment of goods and services
- Payroll Distribution – processes relating to the distribution of payroll expenses for research projects
- Budget Preparation – processes relating to the preparation of the annual budget to be presented to the TAMUS Board of Regents