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
Correct (business process)	Cross Application	Correcting a business process changes a specification or data in the workflow while in progress. It is also a securable action in a business process security policy
Corrective maintenance		Unscheduled repair or replacement of equipment, systems, or components of facilities that requires immediate action to restore service or repair problems that will interrupt building service or agency activities. This work is normally funded from the operating budget.
Cost Allocation System (CAS)		The system that ensures costs are appropriately allocated to the trusts where the work is being done, optimizing resource utilization.
Cost Allocations Mappings		To import files into staging database, which will be mapped to Workday values and perform calculations in support cost allocations.
Cost benefit analysis		An analysis in which consequences of the investment are measured in or converted to economic terms and qualitative benefits.
Cost center		Identifies financial responsibility & management for business units. It typically includes a multiple level hierarchy to an agency wide view.
Cost estimate		The sum established by the agency/institution as available for the entire project, including the construction budget, acquisition costs, furnishings and equipment, compensation for professional services and all contingencies. The cost estimate is used to develop capital project budgets.
Cost estimating		An element of basic services in an architect/engineer (A/E) agreement that includes an estimate of construction cost from quantity surveys and unit costs of building elements for the project. Cost estimates shall include the elements of work to complete the project, all costs and fees and taxes necessary to complete the work, plus appropriate construction estimating contingencies to cover unidentified costs necessary to complete the project. Interactive cost estimating is additional work beyond basic services in which additional design alternatives are estimated. Independent cost estimating, if needed, covers cost estimates by an independent third party contracted with the owner and used to validate cost estimates prepared by the A/E.
Credit Memo	Financial	In Workday, a credit memo is a customer invoice adjustment that decreases the amount due. A credit memo for suppliers is a supplier invoice adjustment that decreases the amount owed.
Crosswalk		The actual usage of the mappings in support of technical requirements. The mappings provide the information to build a ‘crosswalk' that can be used to systematically convert COA data to FDM data and FDM data back to COA data, where possible. Reverse crosswalks can be problematic if multiple COA data elements are being used to derive a single FDM data element, or multiple values for a single COA element are mapping to a single FDM data element value. The ability to recreate that reverse mapping is not possible if multiple Legacy COA element values are mapped to a single FMD value.
Currency Rate Type	Financial	Allows you to establish more than one conversion rate for the same currency pair during the same time frame. For example, one rate type can apply to the daily rate used in operational transactions, and then average and historical rate types can be used for financial reporting. The default rate type is used in all operational activity. You can define names for currency rate types; typical names are Period Average, Daily, End of Day Daily, and Historical.
Current Asset	Financial	An asset on the balance sheet that is expected to be sold or otherwise used up in the near future; usually within one year or one business cycle (whichever is longer). Typical current assets include cash, cash equivalents, accounts receivable, inventory, the portion of prepaid accounts that will be used within a year, and short-term investments. On the balance sheet, assets are typically classified into current assets and long-term assets.
Custom Objects	Cross Application	Ability to extend Workday business objects by creating custom object definitions based on the business object and adding custom fields. Custom objects enable you to record additional data for which there's no Workday-delivered field. - Business objects are used to store data in Workday (such as organizations or workers). A business object has fields and instances, which are analogous to rows and columns in a spreadsheet.
Custom Organization Worktag	Cross Application	Definable worktags that you can associate with people or financial transactions. You can: (1) Automatically populate a custom organization as a worktag into transactions that involve a worker by making the worker a member of the custom organization. (2) Use custom organizations as worktags to route transactions to specific people based on role.
Custom Report	Cross Application	Custom reports are designed and built by customers using the Workday Report Writer. They can be created new or as a copy of another standard or custom report.
Custom Worktags	Cross Application	15 delivered worktags with configurable names and values. Each custom worktag associates the Worktag Usage with financial, human resource, payroll, or time tracking transactions or data. Optimal when all you need is a simple tag for financial transactions that do not require any capabilities around roll-ups, security assignment, or assigning to workers. Note: custom worktags cannot be used for payroll costing allocations and accounting adjustments.
Customer Invoice Adjustment	Financial	A change to the amount a customer owes, and can be an increase or a decrease in the amount due.
Dashboard		A visually intuitive and easy to understand graphical representation of key performance indicator shown on a single screen.
Dashboard Landing Pages	Cross Application	Several dashboards are delivered with a number of worklets pre-configured that are specific to a functional area, like Talent Management or Workforce Planning. Since these worklets are built with the report writer and report-specific calculated fields, you can copy and modify them if you have unique requirements. You can add additional custom worklets to these dashboards using the report writer.
Data cleansing		Data cleansing typically refers to a set of activities that ensures all data in a system is standardized. This will be necessary to move data from old systems (AFRS, HRMS, etc.) into a new ERP.
Data Conversion	Integration	For One Washington, data conversion is the process of translating data from one format to another (AFRS to Workday) and migrating the data from an Agency legacy system to the One Washington Workday system. Example: If an agency is retiring a system for Pass 3 and intends to utilize Workday for its functionality, there's a good chance they need to convert that data to Workday.”
Data Source	Cross Application	A data source defines a particular set of business object instances for reporting purposes. A data source is similar to a database view, except it is more flexible in two key areas. First, a database view always returns a flattened out tabular data structure, whereas a data source can return hierarchical data structures. Second, a database view requires that technical staff manually join related tables together, while a data source automatically allows reportable access to all business objects related to those in the data source.
Data Universal Numbering System Number (DUNS)		Created in 1962, the Data Universal Numbering System or D-U-N-S® Number is D&B's copyrighted, proprietary means of identifying business entities on a location-specific basis.Assigned and maintained solely by D&B, this unique nine-digit identification number has been assigned to over 100 million businesses worldwide. A D-U-N-S® Number remains with the company location to which it has been assigned even if it closes or goes out-of-business. D-U-N-S® Number also unlocks" a wealth of value-added data associated with that entity
Data Validation		The critical process of confirming that data has been loaded as intended, ensuring it is valid, consistent, functions with Workday business processes, and supports downstream systems.
Debit Memo	Financial	In Workday, a debit memo is a customer invoice adjustment that increases the amount due. A debit memo for suppliers is a supplier invoice adjustment that increases the amount owed.
Debt limit		Washington State's legal restriction (RCW 39.42.132) on the amount that can be paid for debt service on bonds, notes, or other borrowed money. The Washington State Constitution (Article 8, Section 1(b)) mandates that payments of principal and interest in any fiscal year cannot exceed 9 percent of the arithmetic mean of general state revenues for the three preceding fiscal years. This debt limit of 9 percent of revenues is to be reduced in downward steps to 8 percent by July 1, 2034.
Debt service fund		A fund type established to account for the accumulation of resources for, and the payment of, general long-term obligation principal and interest.
Decommission Planning		The strategic approach to retiring legacy systems that no longer serve the Workday ecosystem, mitigating risks and ensuring a smooth transition.
Dedicated accounts		Accounts set up by law to receive revenue from a specific source and to be spent for a specific purpose.
Defects		Issues reported in the Workday Enterprise system that impact functionality, tracked in the Agency Defect Tracker to ensure timely resolution and resolution status monitoring.

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