Workday words

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.

Journal Statuses:
Create - An initiated but unsubmitted journal that may be saved for later
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*

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.

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

The person who is responsible for a given asset and serves as the custodian of that asset. The asset coordinator is not the same as the equipment coordinator, who is a central contact in a school, an academic or central unit serving as a liaison between their organization and the Fixed Assets Accounting Group within UVAFinance.

Award in Workday is similar to Award in Oracle (G=Sponsored Award), but Award numbers in WD will look different than what we see in Oracle.  Oracle sponsored awards start with "G" and are followed by another alpha character based on the sponsor (e.g., GA=NSF, GB=NIH, etc.).  In WD, Awards will start with "AWD," followed by numbers.  

The date used to determine the budget control period a transaction is evaluated and for reporting that references this field.

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

The primary organization type used by Workday Finance. Represents the legal and non-legal entities at UVA. Each division represented in Management Discussion & Analysis (MD&A) schedules of financial reports; Payroll and Financials use Company to control accounting and reporting functionality; Company is considered the primary level at which one holds a balanced set of books

Area that owns a subset of revenues and/or expenses to support management decision making or accountability; reports funds available and area where cross-funding is identified / delivered; manages multiple sources of funds

Funds not subject to external restrictions such as discretionary, startup, non-sponsored studies that have carryforward; can be internally allocated or designated

Facilities & Administration costs not directly linked to sponsored activity, but
necessary for the success of such sponsored activity. These costs include
utilities, building maintenance cost, as well as administration costs associated
with central office support for sponsored programs, e.g. payroll, accounting
and human resources.

The Foundation Data Model (FDM) is the basis for accounting and financial reporting in Workday. The FDM replaces UVA's Oracle EBS Chart of Accounts (CoA) in the implementation of Workday. Contains elements known as worktags

High-level source of funds used to support GASB net position categories and State reporting requirements; a balancing worktag (all journal entries to balance within Fund worktag)

Grant in Workday is similar to G&C Project in Oracle.  Oracle project numbers are six digits; WD Grant numbers will start with "GR" followed by numbers.  In WD, the Grant/s are linked to an award and spending occurs at the Grant level.

A UVA department /unit providing services to internal customers such as
faculty, staff, students and other departments.

Represents physical locations to track assets and workers. The location may be owned, rented or leased by the institution. All locations are sourced from the institution’s space management system

Accounting related to funds that represent obligations to pay.  In context of Payroll, this is pay information pertaining to filled positions.

The process that allows you to correct payroll journal entries after payroll has been completed by making a net-zero adjustment by adjusting costing worktags or other FDM values. PAAs post in the next open ledger period. If fringe was originally calculated on the entry, Workday creates reversal fringe benefit journals to reverse the original fringe, recalculates and creates new fringe benefit journals.

The ID given in Workday for an employee's Position which begin with the letter P and are 6 digits in length. (P123456). The Position contains pertinent job information such as Employee Type, Job Title, Time Type, Pay Rate Type, Default Weekly Hours, FTE, and Organization Assignments.

Activity that has a defined start and end date, e.g., capital or IT project, multiple funding sources and hierarchy; Project – Capital: Accumulates costs for activities that will be capitalized and amortized. Project – Operating: Activities identified by a cost center or small selection of cost centers that is valuable for internal
reporting and analysis.

A Workday tenant is an instance of the Workday software, including data that exists independently of other tenants. There are many types of deployment and production tenants, each intended for a specific use.

Workday's functionality to manage expenses and expense reports

Type of Costing Allocation that distributes all earnings for a worker's position by a percentage based on the FDM values and worktags specified.