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'.

NOTE: Terms from the OFM DEIB glossary are currently also showing up here - please disregard until this is fixed.

Term	Glossary	Sub-Category	Definition
Benefit Event Type	Workday	Human Capital Management (HCM)	Identifies the events that trigger benefit enrollment, for example, open enrollment, new hires, or the birth of a child. It also identify the coverage types to make available to employees for when an event of this type occurs.
Benefit Group	Workday	Human Capital Management (HCM)	Identifies workers who qualify for similar benefit plans and elections. Workday builds benefit groups dynamically based on eligibility rules that control group membership; all workers who meet the criteria specified in a group's eligibility rules are automatically assigned to that group. For example, you can create benefit groups by defining eligibility rules that assign executive management staff to one group, salaried employees to a second group, and hourly employees to a third group.
Benefit Plan	Workday	Human Capital Management (HCM)	Defines the following: • The coverage levels or amounts available to employees enrolling in an insurance, health care, defined contribution, or spending account plan. • The target populations for a plan (for example, employee, employee + spouse, or employee + children). • Eligibility for benefits, including which benefit groups are eligible for the plan. • Restrictions on the age of covered dependents. • Plan rates and costs.
Benefit Validation	Workday	Human Capital Management (HCM)	Restricts the coverage options available to workers under a specific benefit plan. For example, you can restrict the maximum age of dependents covered under a plan or the maximum and minimum coverage amounts.
Bid	WAAM		An offer, proposal, or quote for goods or services in response to a solicitation issued for goods or services by an agency.
Bidder	WAAM		An entity who submits a bid in response to a solicitation issued for goods or services by an agency of Washington state government
Biennialization	WAAM		Converting expenditures that occurred for only part of a biennium into the amount needed for a full biennium of implementation.
Biennium	WAAM		A two-year fiscal period. The Washington state biennium runs from July 1 of an odd-numbered year to June 30 of the next oddnumbered year
Bond	WAAM		A debt instrument issued through a formal legal procedure and secured either by the pledge of specific properties or revenues or by the general credit of the state. Examples include bid bond, performance and payment bond. See: Form C-100 (2014) Section G.
Bonus Process	Workday	Human Capital Management (HCM)	A sequence of one or more tasks related to defining, targeting, and awarding a bonus to employees. In this process, a compensation administrator creates the bonus plan definition. The administrator or manager assigns the bonus plan to employees through one of various means. Assignment of the plan determines eligibility for the bonus event. The administrator sets up the bonus process, which funds the bonus pool, and then launches the process on the specified event date. Workday creates bonus events for employees based on their organization. Managers review the target bonus for their employees and submit bonus proposals for review. Once approved, the employees receive their bonus.
Bow wave	WAAM		Any additional cost (or savings) that occurs in the future because a budget item in the current biennium is not fully funded or is onetime.
Budget	WAAM		A plan of financial operation embodying an estimate of proposed expenditures for a given period of time or purpose and the proposed means of financing them.
Budget control & execution	WAAM		The ability to define an agency's plan of estimated expenditures, revenues, cash disbursements, and cash receipts for each month of the biennium.
Budget Development System (BDS)	WAAM		An enterprise application developed as a tool to assist agencies in building all components of the decision package and submitting operating and transportation budget requests online. The new Agency Budget System (ABS) replaced BDS in June of 2018.
Budget drivers	WAAM		Caseload, economic, or demographic factors that have a significant effect on the state budget. Examples include inflation rate changes and state population changes in certain age groups.
Budget Evaluation Study Team Study (BEST)	WAAM		Review of a project's predesign study by an independent qualified multi-disciplined team using the value engineering methodology.
Budget notes	WAAM		A legislative fiscal staff publication that summarizes the budget passed by the state Legislature. This publication is usually distributed a few months after the end of the legislative session. Budget notes provide guidance but are not legally binding.
Budget Structure	Workday	Financial	Criteria for building budget or forecast budgets. Types of budget structures include financial, staffing and position. Budget structures can be configured to require approval, organized by dimension type (such as cost center or region), and updated with amendments.
Budgetary control	WAAM		The establishment of budgets and the continuous comparison between actual and budgeted results.
Budgeted accounts	WAAM		Accounts that are subject to the appropriation and/or allotment process.
Budgeted fund	WAAM		A fund whose expenditures are subject to appropriation if held in the state treasury or subject to allotment if held outside the state treasury.
Business Function	WAAM		The five (5) major business areas that will be supported by the ERP solution (i.e., Finance, Procurement, H/R, Payroll, and Budget).
Business Intelligence (BI)	WAAM		A tool to transform business data into meaningful and useful information.
Business Object	Workday	Cross Application	Workday stores your data as business objects—organizations, workers, positions, and so on—which can be thought of as database tables or worksheets in Excel. Just as a database table or worksheet has columns and rows, a Workday business object has fields and instances. A business object is composed of a set of related fields, similar to how a table or spreadsheet is composed of a set of related columns. Instances of a business object in Workday are like rows in a table or spreadsheet, with each instance representing a unique occurrence of that type of object such as an organization or worker. A business object can have no instances, one instance, or many instances. Workday automatically links related business objects together. For example, purchase order lines are linked to a purchase order header, the purchase order header is linked to a supplier, the supplier is linked to a company, and so on.
Business owner (or ‘process owner')	WAAM		Individuals who provide functional expertise in the five core process areas, lead their respective One Washington advisory committees, and lead communities of practice amongst employees in their process area.
Business Process Definition	Workday	Cross Application	The set of tasks that need to be completed for an event to occur, the order in which they must be done, and who must do them. Workday includes a number of predefined business processes for different purposes. You can edit the default definitions for your organization. You can also create different versions of the same business process for different organizations.
Business Process Instance	Workday	Cross Application	A business process that the initiator has started. For example, the Hire Employee for Organization X business process definition becomes an instance when the initiator uses it to hire a particular applicant.
Business Process Security Policy	Workday	Cross Application	A business process security policy secures the initiation step, step actions and process-wide actions including view, rescind, cancel and correct. It specifies which security groups that have access to each action.
Business Processes	WAAM		The high-level categoried that describe major business workflows that were included on the Readiness Spreadsheet (e.g., Accounts Receivable (A/R), Accounts Payable (A/P), Contracting, Recruiting, etc.).
Business Site Location	Workday	Human Capital Management (HCM)	A worker's work location. This value influences many processes, including compensation and staffing.

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