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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

Financial Accounting 

Legacy Term Workday Term Definition
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)

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

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

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Financial Reporting

Legacy Term Workday Term Definition
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

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
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. 

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Legacy Term Workday Term Definition
Transaction Code
Business Process

An identifier used to denote the type of financial transaction performed within the Workday system

No Legacy Term
The primary organization type used by Workday Finance. Represents the legal and non-legal entities at UM (e.g. 200 Academy)
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
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

External source of funds typically with usage restrictions (temporary or permanent)

Note: Naming in Workday is consistent with Raiser’s Edge

6 Account 
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

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
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

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 

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

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Internal Service Providers (ISP)

Legacy Term Workday Term Definition
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

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Procurement & Expenses

Legacy Term Workday Term Definition
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

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