As we move through Phase 3 of Finance Strategic Transformation, you'll hear Workday Financials terminology with more frequency. Some terms are self-explanatory, but some are unfamiliar, and many will refer to names we have used in current processes and functions. It's important to get used to the "Workday Words" earlier rather than later, so that you understand what's being discussed and even more importantly, so you can easily recognize when the topic is something that affects your work.
We have been gathering up common Workday Financials terms and have collected them in the searchable list below.
You'll find that all of the Workday Words in the list are defined, but not all of them have a "legacy term" that correlates with them, meaning that either there isn't a current term we use for that Workday Word, or we just don't know about it as yet. That's where we'd love your help!
Please let us know:
- Are there current names for processes or functions that don't seem to have a Workday Word?
- If you would suggest any edits/changes to what you see in the document we've put together.
- What other Workday Words besides the ones listed have you heard that you think we need to include?
As always, we want (and need) to hear from you, so please reach out if you have questions or concerns.
Click the term below to view the full definition.
The date field is used to record the Accounting Date, this is the desired date for the transaction to post.
|Accounting Journal and Associated Statuses||
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.
|Activity||Similar to how Task was used by many orgs||
Envisioned as managerial reporting tool only, defined at school level; used to assign further granularity to programs and/or projects
|Ad Hoc Bank Transactions and Associated Statuses||
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
|Adaptive Insights Pilot||BudgetUVA||
Budgeting solution that integrates with Workday Financials. UVA is currently doing a pilot with several schools and academic and central units
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.
Allows tracking by individual – for identifying and reporting on financial activity and balances for which the individual is responsible (i.e. faculty, grad students); field open to anyone that has been entered in WD HCM (via WD employee ID)
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.
|Award Amendment Reason||Not in Oracle, but follows Research UVA eSPAR Actions|
|Award Attachment Categories||Not in Oracle|
|Award Lifecycle Status||Award Status (Active, At Risk, On Hold, Closed)|
|Award Line||Similar to Award Installment Lines|
|Award Posting Interval||Budget Year|
|Award Purpose Code||Award Types (clinical research, training, org research, etc.)|
|Award Special Condition||Award Reference, Award Terms, and Condition Tabs|
|Award Task||Currently used by OSP only, through Award Installment Lines and Reporting Tab|
|Award Task Group||Reporting or other deliverables group|
|Award Task Status||Not in Oracle|
Generate statement of net position, SCRECNA at a lower level than Company; utilizes Workday optional worktag balancing
The date used to determine the budget control period a transaction is evaluated and for reporting that references this field.
|Business Assets||Fixed Assets||
In Workday, an asset is anything you want to track, from tangible capital items like company cars, to intangibles like software licenses, to low-cost high value items like mobile phones. Workday separates asset tracking and accounting activities, this flexibility enables you to track your assets according to business use, and account for them according to your accounting practices. Workday Business Assets combines traditionally separate domains of fixed assets with the emerging importance of managing high-value, low cost items.
An identifier used to denote the type of financial transaction performed within the Workday system
|Commitments||Commitment/Pre-encumbrance Note: Vacant Positions were not encumbered in Oracle||
Accounting related to funds for future known or expected spending. In context of Payroll, this is pay information pertaining to vacant positions.
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
The configuration workbook is used to document customer configuration
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
|Costing Allocation||Labor Distribution (LD)||
The process of identifying and assigning payroll-related costs to specific FDM values and worktags. This process does not determine whether or how much an employee will be paid.
Funds not subject to external restrictions such as discretionary, startup, non-sponsored studies that have carryforward; can be internally allocated or designated
One of four FDM worktags (Grant, Gift, Project and Program) used to derive certain associated worktag values (i.e. Cost Center, Fund) within Workday
|Expenditure Function Code||
Function codes are a mechanism by which activities, services and
|F&A / Indirects||
Facilities & Administration costs not directly linked to sponsored activity, but
|F&A Cost Basis||F&A Rate Basis (TDC, MTDC, etc.)|
|F&A Cost Location||Included in Burden Schedule (on, off Grounds)|
|F&A Rate Agreement||Included in Burden Schedule Rate (61.5%, 26%, 38%, etc.)|
|F&A Rate Definition Name||Included in Burden Schedule (Org Res, OSA, etc.)|
|F&A Rate Types||Not in Oracle (pre-determined)|
|Foundation Data Model (FDM)||Chart of Accounts (CoA), PTAO||
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
|Function||Project Expenditure Function||
Used to categorize activities by mission; supports NACUBO, GASB and state reporting requirements
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)
Pledges, outright contributions received from private sources, or activities supported by an external party (i.e., donor) for which no goods or services are expected, implied or forthcoming to the donor, and in which no proprietary interests are to be retained by the donor; may requires donor reporting on spend; contributions may be consolidated for same purpose into single gift
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.
HCM stands for “Human Capital Management.” The Ufirst project
|Internal Service Provider||
A UVA department /unit providing services to internal customers such as
|Ledger Account||Object Code||
Natural accounts where debits and credits are recorded in the ledger. Ledger accounts will be summarized into hierarchies/summaries for financial reporting
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
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
|NACUBO Function||Project EFC Code|
|Obligations||Commitments / Planned Expenses --- Payroll: Encumbrances||
Accounting related to funds that represent obligations to pay. In context of Payroll, this is pay information pertaining to filled positions.
The Workday term for earnings and deductions that are used in calculating an employee's gross-to-net pay.
|Payroll Accounting Adjustment (PAA)||Labor Distribution Adjustment (LDA)||
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.
Playback refers to the visual review of the tenant by our stakeholders. In
|Position ID||Assignment Number||
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.
Captures broad, programmatic activities or initiatives (no defined start or end date) that are generally consistent over time and may span across multiple organizations, funding sources, and projects. Top levels of the Program hierarchy are used for University-level management or VP/School Dean-level management
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
|Revenue/Spend Category||Object Code/Expenditure Type||
A more granular view of revenue or expenses incurred at the University; end-user entry point on operational transactions
|Spend Category||Expenditure Type|
|Spend Restriction||Allowed Cost Schedule||
(Related to Grants) A defined listing of the types of expenses that can be charged to an award.
|Sponsor Award Types||Award Types (grant, contract, cooperative agreement)|
|Sponsor Types||Sponsor Types (Federal, State, Local Government, Foundation, etc.)|
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.
User stories are short, simple descriptions of a feature in the system told from
|Workday Expenses||Chrome River||
Workday's functionality to manage expenses and expense reports
|Worker Earning Costing Allocation||Element-Level LD Schedule||
Type of Costing Allocation for a specific worker based on a given Pay Component (e.g., salary pay, hourly wages, allowances, period activity pays, etc.) that can determine percentage based costing across a set of FDM values and worktags.
|Worker Position Restriction Costing Allocation||Assignment-Level LD Schedule||
Type of Costing Allocation that distributes all earnings for a worker's position by a percentage based on the FDM values and worktags specified.
A compact report displayed as a "tile" on the My Workday page, providing easy access to tasks and information staff will use on a regular basis.
|Worktag||Chart element, e.g. Project, Task, or Award||
An FDM dimension that is used to facilitate Workday transactions and create financial reports; Worktags are a categorization of the business transaction that provides the ability to support financial and statistical reporting.