Accounting

Statewide Accounting glossary

This is a list of terms used within the Washington Administrative and Accounting Manual (WAAM) and within Workday. To find a term, enter it in in the search box, and select 'Apply'.

Term	Category	Definition
End-to-End (E2E) Testing		The collaborative effort to thoroughly test functionality and integration, ensuring business processes operate as intended from start to finish.
Enterprise Funds		Used to account for any activity for which a fee is charged to external users for goods or services. Activities are required to be reported as enterprise funds if, in the context of the activity's principal revenue sources, either of the following criteria is met: a) the activity is financed with debt that is secured solely by pledge of the net revenues from fees and charges of the activity; 2) laws or regulations require that the activity's costs of providing services, including capital costs (such as depreciation or debt service), be recovered with fees and charges, rather than with taxes or similar revenues.
Enterprise Integration Crosswalk (EIC)	Integration	The Enterprise Integration Crosswalk (EIC) maps legacy AFRS values to Workday values and vice versa (aka forward/reverse crosswalks). This is a temporary solution for agencies that are unable to remediate their legacy system for interacting with the new Workday financial information prior to deployment, including FDM work tags and alignment with business process workflows.
Enterprise Interface Builder (EIB)		The Enterprise Interface Builder (EIB) is a Workday tool used to import and update data in bulk within the OneWA Workday system without any programming. EIBs are available for agencies to upload mass data and transactions. These important factors need to be considered when using an EIB: Must use default Excel spreadsheet templates for uploading data, related to a given area, and customized for only columns needed; Use of EIB initiates the same business processes as if manually entering data through the user interface; Upload bulk data using spreadsheet templates populated in Workday Data Format.
Enterprise Resource Planning (ERP)		Enterprise resource planning (ERP) is the integrated management of common business practices across the enterprise and the technology that supports them. A complete ERP system combines data on an organization's main resources and provides decision makers with real time, enterprise information.
Entitlement		A service or grant that, under state or federal law, must be provided to all eligible applicants.
Equipment		Tangible property other than land, buildings, improvements other than buildings, or infrastructure which is used in operations and with a useful life of more than one year. Examples are furnishings, equipment, and software. Equipment may be attached to a structure for purposes of securing the item, but unless it is permanently attached to or an integral part of the building or structure, it is classified as equipment and not buildings.
Expenditure authority		Permission for agencies to disburse moneys or accrue liabilities during specific fiscal periods, up to specified amounts, from specific accounts. Authority is provided by the Legislature, through appropriations or inclusion of nonappropriated account moneys in the legislative budget, and by the executive through allocations, approval of unanticipated receipts, or across-the-board spending reductions.
Expenditure authority code		The three-character code assigned by OFM to identify each legislative or executive authorization to incur expenditures. Agencies are to use only those expenditure authority codes that have been authorized in writing by OFM. The assigned codes are valid only for the biennium for which they are established.
Expenditures		Decreases in net current financial resources. Expenditures include disbursements and accruals for the current period. Encumbrances are not included.
Fiduciary Funds		Used to account for assets held by a governmental unit in a trustee capacity or as an agent for individuals, private organizations, and/or other governmental units. There are four types of fiduciary funds: pension (and other employee benefit) trust funds, investment trust funds, private-purpose trust funds, and custodial funds.
Field order		(A17) - A document used by agencies to order, encumber, liquidate, and authorize payment for local purchases. This form is used when an agency has general or specific authority to make the purchase or when the item being purchased falls within the statewide contracts
Fiscal year		A 12-month fiscal period used for budget and accounting purposes. The Washington State fiscal year extends from July 1 through the next June 30 and is named for the calendar year in which it ends (e.g., July 1, 2014 - June 30, 2015 is state Fiscal Year 2015). The federal fiscal year runs October 1 through September 30. The city/county fiscal year runs January 1 through December 31.
Fixed assets		A fixed, physically attached, and permanent improvement or real property. Fixed assets are normally those that are capitalized.
Foundational Data Model (FDM)		The data framework that serves as the backbone for Workday's transaction processing, reporting, and security, replacing the AFRS chart of accounts.
Full-time equivalent		As a unit of measure of state employees: refers to the equivalent of one person working full-time for one year (approximately 2,088 hours of paid staff time). Two persons working half-time also count as one FTE. As a unit of measure of students in K-12 or higher education facilities: refers to the equivalent of one student attending class full-time for one school year (based on fixed hours of attendance, depending on grade level).
Function		The major functional areas by which agencies are grouped according to general purpose: education, natural resources, human services, governmental operations and transportation.
Fund		For state purposes, a fund is referred to as an account. Refer to Account. Refer to Workday Term Worktag: Fund.
Fund balance		The excess of the assets of an account over its liabilities and reserves. For governmental funds, fund balance represents the difference between fund assets (beginning balance and estimated revenues for the period) and fund liabilities (including reserves and appropriations for the period).
Fund type		One of 11 classifications into which all individual accounts can be categorized. Governmental fund types include the general fund, special revenue funds, debt service funds, capital projects funds, and permanent funds. Proprietary fund types include enterprise funds and internal service funds. Fiduciary fund types include pension (and other employee benefit) trust funds, investment trust funds, private-purpose trust funds and agency funds. See also: Generally Accepted Accounting Principles
General Fund		Used to account for all financial resources of the state not required to be accounted for in some other fund. Refer to Governmental Funds.
General obligation bonds		Statewide bond issues whose repayment is guaranteed by the full faith, credit, and taxing power of the state and that are subject to the state's debt limit. General obligations bonds are the traditional form of government debt financing for major construction projects.
Generally Accepted Accounting Principles (GAAP)		Uniform minimum standards for financial accounting and reporting. They govern the form and content of the financial statements of an entity. GAAP encompass the conventions, rules, and procedures necessary to define accepted accounting practice at a particular time. They include not only broad guidelines of general application but also detailed practices and procedures.
Governmental Funds		Used to account for most typical governmental functions. The acquisition, use, and balances of the state’s expendable financial resources and the related current liabilities (except those accounted for in proprietary funds), are accounted for through governmental funds. Governmental funds have a budget orientation using the current financial resources measurement focus and the modified accrual basis of accounting. There are five types of governmental funds: general fund, special revenue funds, debt service funds, capital projects funds, and permanent funds.
Grant		Awards of financial assistance, including cooperative agreements, in the form of money or property in lieu of money to an eligible grantee. Capital grants are restricted for the acquisition, constructions, or renovation of capital assets associated with a specific program. Operating grants support all or a portion of current operating expenses within a certain program.
Handling Code		The payment Handling Code in Workday determines how Workday warrants will be distributed by Consolidated Mail Services (CMS): mailed to suppliers and payees by CMS or routed by CMS to the agency or OST.
Hierarchies		Hierarchies are organizational structures that show relationships between different elements in the FDM. Hierarchies reflect each code’s relative place in that worktag structure. For ledger accounts, these hierarchies are referred to as summaries.
Hold Warrant for Pickup (HFP)		Workday warrants that are routed by Consolidated Mail Services (CMS) to the agency or to OST for pickup by the agency, in accordance with their agreement.
Independent Contingent Worker	Financial	An independent contingent worker (ICW) not represented by a supplier, and accounted for as a 1099 supplier. You issue purchase orders to, create receipts for, and pay ICWs just as you do suppliers.
Indirect cost		Costs incurred for a common or joint purpose benefitting more than one cost objective, and not readily assignable to the cost objectives specifically benefitted, without effort disproportionate to the results achieved.

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