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
Commissioning and training	WAAM		The process for achieving, verifying, and documenting that the performance of a building and its various systems meet design intent together with the owner and occupants' operational needs. The process extends through all phases of a project, from initial concept to occupancy and operation, and includes the training of maintenance personnel.
Commodity management	WAAM		The National Institute of Governmental Purchasing (NIGP) commodity code is a coding taxonomy used primarily to classify products and services procured by state and local governments in North America are a universal taxonomy for identifying commodities and services in procurement systems. It is available as a 3-digit class code, a 5-digit class-item code, a 7-digit class-item-group code, and a detailed 11-digit code. Vendors can register for the commodity codes that best fit the goods or services they provide. Customers can search and procure for goods or services by looking up specific commodity codes.
Community of Practice (CoP)	WAAM		A group of people who share a professional interest or common desire to learn more about a particular subject area or develop a certain skillset; in the context of One Washington, these mainly exist for OCM and the five core process areas, and can exist within or across agencies.
Company	Workday	Financial	Usually represents a legal entity, and is the primary entity for recorded business transactions and financial reports. A Workday company equates to a single tax ID within an enterprise. A company is a type of Workday organization.
Company code	WAAM		This is the State of Washington including all agencies, higher education and other entities. The Company Code has one tax ID number.
Company Insider Type	Workday	Human Capital Management (HCM)	Enables you to track which employees are considered company insiders for reasons of stock purchasing. You can track company insider status on job profiles and, by extension, each worker with that job profile.
Company Performance Scorecard	Workday	Human Capital Management (HCM)	Lists and weights each criterion used to evaluate company performance. You can use scorecards to track company performance as standalone information or to influence funding up-front for a particular bonus plan.
Compensation Basis	Workday	Human Capital Management (HCM)	A user-defined grouping of compensation components; such as the sum of salary, allowance, commission, bonus, future payment, stock and retirement savings plans. Workday enables you to specify which compensation plans should be included in the compensation basis calculation. This calculation can be used to view employee compensation in Workday and in the bonus process to provide target pools and individual target amounts.
Compensation Component	Workday	Human Capital Management (HCM)	The umbrella term for compensation packages, grades, grade profiles, and plans.
Compensation Defaulting Rule	Workday	Human Capital Management (HCM)	Establishes the criteria for how compensation components default to worker compensation during staffing transactions (hire, promote, demote, transfer). Compensation defaulting rules ease data entry by automatically defaulting compensation components (packages, grades, grade profiles, and plans) to worker compensation for employees who meet the rule's eligibility requirements.
Compensation Element	Workday	Payroll	The smallest unit of compensation for a worker in a specific position. Workday uses compensation elements to determine the amount, currency, frequency, and other attributes of a worker's compensation. • Compensation elements are linked to compensation plans. For example, Base Pay, Car Allowance, and Commission can be mapped to any compensation plan, but not to merit plans. • A Compensation Element Group is a collection of compensation elements. For example, the group Standard Base Pay can be composed of multiple compensation elements. Compensation elements do not need to be grouped, and groups are optional. • Payroll earning codes linked to a compensation element allow Workday Payroll and Payroll Interface to include the applicable compensation in payroll. See the Compensation Element tab on Create Earning.
Compensation Element	Workday	Human Capital Management (HCM)	The smallest unit of compensation for a worker in a specific position. Workday uses compensation elements to determine the amount, currency, frequency, and other attributes of a worker's compensation. Compensation elements are linked to compensation plans. For example, Base Pay, Car Allowance, and Commission can be mapped to any compensation plan, but not to merit plans. Payroll earning codes linked to a compensation element allow Workday Payroll and Payroll Interface to include the applicable compensation in payroll. A Compensation Element Group is a collection of compensation elements. For example, the group Standard Base Pay can be comprised of multiple compensation elements. Compensation elements do not need to be grouped, and groups are optional.
Compensation Impact Model (CIM)	WAAM		An application used by the Office of Financial Management (OFM) to estimate costs of collective bargaining & budget proposals, as well as the effect on state agency budgets due to changes in salary and benefit costs.
Compensation Impact Model - Agency Interface (CIMAI)	WAAM		An application used by Higher Education institutions to prepare data for use in the Compensation Impact Model.
Compensation Matrix	Workday	Human Capital Management (HCM)	Defines the bonus,merit and stock increase range based on employees' overall performance rating, retention rating, eligibility rule, or their salary range quartile. You can use a compensation matrix to generate a bonus,merit or stock pool, giving you the basic cost forecasting necessary to pay for performance (bottom-up budgeting), or you can use the compensation matrix as reference guidelines only but have a separate pools (top-down budgeting).
Compensation Package	Workday	Human Capital Management (HCM)	A grouping of compensation guidelines (grades, grade profiles, and their associated steps) and plans that you can assign to workers as a set. Packages provide a quick view the eligible plans for a particular job or group of employees.
Compensation Plan	Workday	Human Capital Management (HCM)	A component of pay that you use to assign monetary amounts to a worker's pay. For example, a salary, an allowance, or a bonus. Some compensation plans, for example, a commission, are discretionary. You are not paid from these compensation plans in every paycheck. By contrast, other plans, like a salary plan, are included in every paycheck.
Compensation Rule	Workday	Human Capital Management (HCM)	Guidelines for determining which workers are eligible for which components of compensation.
Compensation Step	Workday	Human Capital Management (HCM)	A specific monetary amount within a grade or grade profile. Steps defined on a grade profile override any steps defined on the grade.
Compensation Structure	Workday	Human Capital Management (HCM)	The arrangement of compensation grades, grade profiles, plans, and packages you create to best fit your company's compensation needs. Administrators, partners, and managers can use these compensation components and compensation eligibility rules to assign and update a worker's compensation plans.
Compensation Target Rule	Workday	Human Capital Management (HCM)	Used to segment your employee population for assignment of compensation plans: • Specify one or multiple target populations within a bonus or merit plan, defaulting compensation differently for each target. • Roll out compensation plans (allowance, bonus, commission, merit) to a target population of employees, or remove them.
Compensation Waiting Period	Workday	Human Capital Management (HCM)	A rule that defines when employees become eligible for a merit or bonus plan. You base the rule on a single value, such a hire date.
Competency	Workday	Human Capital Management (HCM)	A functional or technical ability that is needed to perform a job. In Workday, you can associate competencies with job families, management levels, job profiles, and positions.
Competitive procurement (RFx)	WAAM		Competitive solicitation; document formal process providing an equal and open opportunity to bidders and culminating in a selection based on predetermined criteria. Includes process such as: creating RFx; posting RFx; receiving bids; bid evaluation; contract negotiations; award notification to bidders; debrief/protests; and contract execution.
Competitive solicitation	WAAM		A documented and formal process providing an equal and open opportunity to bidders and culminating in a selection based on predetermined criteria
Complaint (procurement)	WAAM		Written notification from a vendor raising issues or concerns with the solicitation requirements and/or evaluation process in regard to an open competitive procurement.
Complaint response	WAAM		The soliciting agency's written response to a Complaint.
Conditional Calculation	Workday	Time Tracking	Time calculation that tags time blocks that meet certain conditions.
Conditions	Workday	Cross Application	Conditions are one or more logical matches that are resolved to True or False and used to decide if some action should be taken. For example, you can add conditions to steps in a business process to determine if the step should run.
Constructability review	WAAM		The cost for an independent consultant or contractor to determine if a unique or unusual project can physically be built as designed. This is to reduce construction change orders and claims. This review should be conducted at 75 percent completion of the construction documents.

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