Workday Finance Glossary

Last Updated: 08/09/2017

Browse the glossary below to become familiar with Workday terminology.

Financial Accounting | Financial Reporting | General

Internal Service Providers (ISP) | Procurement & Expenses

Legacy Term	Workday Term	Definition
Financial Accounting
As of Date	Accounting Date	The date field is used to record the Accounting Date, this is the desired date for the transaction to post. The Ad Hoc Bank Transaction date field should correspond to the "as of" bank date listed on the Daily Bank Report sent by the Office of the Treasury
No Legacy Term	Accounting Journal Statuses	Create - An initiated but unsubmitted journal that may be saved for later In Progress - Journals that have been created and submitted for, but yet to receive approval Posted - A journal that has been completed, approved and posted to a ledger Unposted - Journal status used for a previously posted/approved journal to recall the journal for editing or cancellation due to an error or change Canceled - A terminated journal that will not be reflected on the financial statements Journals may only be unposted and corrected or canceled if the period has not closed
Manual Accounting Journals	Accounting Journals	Accounting journals are manual journals that may be used to move funds from one account to another in order to correct transactions posted to the wrong account, or for other reasons such as correcting a spend category, revenue category or to record a transaction Note: Accounting journals are not to be confused with Manual Cash Journals which are covered under a separate business process known as Ad Hoc Bank Transaction. Today's IDRs are also considered "Manual Accounting Journals", however if goods and/or services are exchanged, it will be recorded wit the help of the Create Internal Service Delivery business process
Manual Cash Journal	Ad Hoc Bank Transactions	A business process to record after the fact cash deposits or withdrawals, including wire transfers, that appear on the Daily Bank Report sent by the Office of the Treasury
No Legacy Term	Ad Hoc Bank Transactions Statuses	Draft - An initiated but un-submitted Ad Hoc Bank Transaction In Progress - A created Ad Hoc Bank Transaction that has been submitted for but not yet received approval Approved - An Ad Hoc Bank Transaction that has been approved Cancelled - An Ad Hoc Bank Transaction that has been terminated
Journal Entry Form	Create Manual Journal	A Workday business process used to perform Accounting journals. Accounting journals are manual journals that may be used to move funds from one account to another in order to correct transactions posted to the wrong account, or for other reasons such as correcting a spend category, revenue category or to record a transaction Note: The Journal Entry Form will not exist in the Workday system. The Create Journals business process will be used for non-cash journal entries that were previously FRS transaction code 060 and do not involve any exchange of goods or services
Description (Batch Form and Journal Entry Form)	Memo	The Memo field is a description field available at the overall journal summary and journal line level. It is used to describe the primary purpose of the journal. Memo fields can also be found at each individual transaction line
Bank Reference	Reference	Workday's Reference field facilitates automated bank reconciliation. The Reference number can include the Bank Reference ID, the Customer Reference ID or Merchant Number. This number should be copy and pasted from the Daily Bank Report into the Reference field Note: If the Daily Bank Report lists more than just the Bank Reference ID, the Bank Reference ID takes precedence over the other reference IDs
No Legacy Term	Worktag Balancing	The use of a balancing fund to equate debits with credits for financial account transfer transactions such as Accounting journals. In order to facilitate this process the Balancing Fund FD000 must be entered

Legacy Term	Workday Term	Definition
Financial Reporting
Microstrategy	Business Intelligence	A set of methodologies, processes, architectures, and technologies that transform raw data into meaningful and useful information used to enable more effective strategic, tactical, and operational insights and decision-making
No Legacy Term	Power Pivot	An Excel add-in that allows you to use Excel pivot tables for ad-hoc reporting. Ad-hoc, because you can quickly change a field in the pivot table to change the report results to something else. In other words, using drag and drop, you can change the report on the fly
No Legacy Term	MS Power BI	A data visualization tool that allows you to create different kinds of graphs or dashboards based on your data.
No Legacy Term	SSRS	SQL Server Reporting Services
No Legacy Term	SSRS Reports	A reporting service that uses standard data reports, which are delivered. Allows users to pick a report, set filters and run the report.

Legacy Term	Workday Term	Definition
General
Transaction Code	Business Process	An identifier used to denote the type of financial transaction performed within the Workday system
No Legacy Term	Company	The primary organization type used by Workday Finance. Represents the legal and non-legal entities at UM (e.g. 200 Academy)
Sub-department	Cost Center	An identifier for financial responsibility and oversight for a managed budgeted entity at the most granular level (e.g. CC00167 English) Note: Cost Centers translate loosely to FRS sub-Departments (not a 1:1 match) and can generate a profit and loss statement
No Legacy Term	Driver Worktag	One of four FDM worktags ( Grant, Gift, Project and Program) that are mutually exclusive and derive certain associated worktag values (i.e. Cost Center, Fund) within Workday
No Legacy Term	Financial Class	Tracks the National Association of College and University Business Officers (NACUBO) classification for expenses
No Legacy Term	Financial Data Model (FDM)	A multi dimensional data structure used for accounting and financial reporting; contains elements known as worktags
Fund/Sub-Fund	Fund	Represents a method of accounting based on the University’s designation of funding categorization. Funding categories at the University of Miami include: General, Designated, Endowment and Plant. A fund is required on all financial transactions
Endowment/Spendable Gift	Gift	External source of funds typically with usage restrictions (temporary or permanent) Note: Naming in Workday is consistent with Raiser’s Edge
6 Account	Grant	Tracks specific funding source provided by an outside sponsor (e.g. federal, state, local) with detailed reporting requirements
GL Sub-Object	Ledger Account	Natural accounts where debits and credits are recorded in the general ledger. Ledger accounts will be summarized into hierarchies for financial reporting and are managed by the Controller’s Office for financial reporting
FRS Dimension	Legacy Value	Recreation of a FRS account in Workday. This will be used for UHealth and Division of Continuing and International Education (DCIE) to facilitate reporting. Legacy values will derive the Workday FDM (Program, Project, Grant, Gift and related worktags) to maintain mapping between WD and non-retrofitted applications
FRS Account	Program	Classifies ongoing, non-sponsored, primarily unrestricted, activity within a single Cost Center. These worktags capture non-grant, non-gift and non-project related University activity (e.g. PG002037 Plant Reserve - Urology Plant Acct) Note: Programs capture non-grant, non-gift, and non-project University activity
Plant Account	Project	Used primarily by Central Offices (Facilities, Information Technology, and the Office of Emergency Management (OEM)) to track transactions for a scope of work with a defined start and end date
No Legacy Term	Region	A dimension used to manage location-based profitability reporting within the University of Miami Health System Note: For September 1, 2017 go-live, this worktag will only be used to support reporting at the Lennar Foundation Medical Center-University of Miami Health System
SL Sub-Object	Revenue/Spend Category	A more granular view of revenue or expenses incurred at the University
Account Attribute	Worktags	An FDM dimension that is used to facilitate Workday transactions and create financial reports Note: The FRS/FDM Conversion tool will provide the associated mappings for FRS data elements to the required Workday worktags

Legacy Term	Workday Term	Definition
Internal Service Providers (ISP)
Interdepartmental Requisition Form	Create ISD	A Workday transaction that records critical information related to goods and services that an ISP provides to a requester
Rate Sheet	Internal Catalog	An ISP’s list of goods and services, their description and associated prices
Charge-out Item	Internal Good or Service	An item that is delivered to an internal requester. The item is delivered by an internal entity (instead of an external supplier)
Interdepartmental Requisition (IDR)	Internal Service Delivery (ISD)	A Workday transaction that records critical information related to the item(s) that an ISP provides to a requester. When approved and passed budget checking, it generates revenue for the ISP and expense for the requester
Service Center	Internal Service Provider (ISP)	Delivers internal goods and/or services to an internal or external entity. ISPs are set up at the department (Cost Center) level

Legacy Term	Workday Term	Definition
Procurement & Expenses
No Legacy Term	Adjusted Per Diem	Expense Item. A cap on the daily per diem amount that is less than the specified by GSA based on an award
No Legacy Term	Create Receipt	The process of recording the receipt of goods and services to facilitate three-way matching of PO, Invoice and Receipt. Initiated by employees with the Workday role of UM Receiver. Required for POs with a specific Spend Category.
eCheck	Create Supplier Invoice	Check Requests are used when other payment types are not more appropriate. Create Supplier Invoice is the formal business process for requesting a check in Workday. Create Supplier Request must be submitted and approved before a Create Supplier Invoice can be submitted.
Paper BERF	eForm	Reimburse non-employees such as guest speakers for travel or student club expenses. Department submits eForm. Disbursements processes payment in Workday.
No Legacy Term	Employee Travel Meal (Actual)	Expense Item. Expense travel meals at actual cost, not per diem
No Legacy Term	Expense Item	The field in the expense report that identifies the type of expense that was made and determines which fields are required by the user to complete
eBERF	Expense Report	A business process used to facilitate expense reimbursements. Can be used to create new expense reports, copy previous expense reports or create expense reports from Spend Authorizations
No Legacy Term	Extended Per Diem	Expense Item. Trips that are 7 days or more
No Legacy Term	Per Diem – Domestic Travel	Expense Item. Standard domestic travel per diem, when entered one day at a time
No Legacy Term	Per Diem – Florida Grant	Expense Item. Indicates State of Florida grants stipulations
No Legacy Term	Per Diem – Foreign Travel	Expense Item. Standard foreign travel per diem, when entered one day at a time
Travel Cash Advance	Spend Authorization	Formalized process for requesting a Cash Advance: An approved request of cash in hand that is given to the traveler prior to official University travel and is to only be used for University-related travel expenses
Sub-Object	Spend Category	Provides a granular view of expenses incurred at the University. Grouped into hierarchies and mapped to ledger accounts for financial reporting. Required on all expense transactions.
No Legacy Term	Split Cost Per Diem	Expense Item. Splitting per diem cost across multiple worktags
American Express/AMEX	US Bank PCard	US Bank provided MasterCard PCard for purchase of goods and services
Ariba/ UMeNET	Workday/UMarketplace	A purchasing system through which requisitions and purchase orders are submitted for goods. The system operates as a virtual mall where users can search, compare and purchase catalog goods as well as create purchase requisitions for non-catalog goods.
CAR System	Workday/US Bank	The CAR system used to reconcile credit card payments for AMEX PCards will be replaced by Workday and integrated with the US Bank Portal to automatically upload transactions into the system