GLOSSARY

A glossary of general terminology related to the Knight Vision program. Use the navigation menu in the sidebar to access additional application terms related to the Workday ERP Implementation.

Workday Finance Terms

Activity

Departmental use worktag for tracking and reporting needs.

Company

Legal entity with separate tax ID and a balanced set of books (e.g. UCF, DSOs, etc.).

Cost Center

Unit with an ongoing business purpose within the institution, budget, positioned employees, and generally occupies space. Generally synonymous with “department” today.

Custom Validations

Errors and warnings to guide users and enforce policies.

Customer

Customers are external organizations or individuals that we are collecting funds from. Customers do not include students and sponsors. Workday will allow users to track and report revenue by customer.

Customer Category

A customer category is required for each customer identified in Workday. It is used for reporting and only one customer category can be assigned to each customer. Examples: Individual, Industry, Foreign, High Education Florida, Higher Education Non-Florida, etc.

Customer Group

A customer group is used for reporting and searching within the customer base. It is optional for each customer and more than one customer group can be assigned to each customer. Examples: Customers A-L, Customers M-Z, Private Colleges and Universities, State Colleges and Universities, etc.

Designation

Used to capture smaller buckets of designated funds (e.g. PI Funds, Start-Up, Balance Accounts, etc.).

Division

High-level, visible roll-up level within a company’s structure. Broader than our divisions today.

Driver Worktags

FDM segments that default in other segments when selected (e.g. Cost Center, Gift, Grants, Project, Designation, etc.).

Expense Card

Credit card set up for expense usage in Workday. May only be used for non-PO purchases. Distribution is similar to PCard today.

Expense Report

Equivalent to a reimbursement voucher (RV) or PCard voucher in PeopleSoft. Expense reports may be tied to Workday Spend Authorizations.

Foundation Data Model (FDM)

The Workday Foundation Data Model (FDM) is a multi-dimensional data structure that serves as the backbone for transaction processing and reporting done within Workday. The FDM will replace our PeopleSoft chart of accounts.

FDM Segment

This is most closely associated with the individual ChartFields we select in UCF Financials or PeopleSoft Financials today (e.g. Department, Project, Fund, Business Unit, etc.).

Financial Initiative

Formal/Informal Inter-Departmental Initiatives

Fringe Category

This is what the user will select to tag a fringe transaction with its appropriate composite fringe group (e.g. Faculty vs. A&P).

Gift

Worktag associated with endowed and spendable gifts.

Grant

Worktag associated with sponsored funding (e.g. Grants). Required to be associated with an Award.

Invoice Request

Submitted by department receiving services; used only for non-PO purchases (e.g., utilities).

Procurement Card

Credit card set up for procurement usage in Workday. May only be used for P.O. purchases. Distribution will be limited to select users at the college/division level Business Center and the Finance and Administrative Service Center.

Program

To classify functional purpose of transactions. Aligns with NACUBO and state reporting needs.

Project

Specific begin and end dates that may cross fiscal years. Used for Capital Projects, IT Projects, RF Licenses & Incubator Programs and Carryforward Plans. Additional use cases still TBD.

Punchout

A supplier’s link within Workday that allows you to shop on suppliers websites, while completing checkout, approval, receiving and payment processes in Workday.

Revenue Category

Classifies types of revenue collected (similar to how PeopleSoft ledger accounts work today). This is what the user will select when performing a banking transaction such as a deposit. It is a granular level of revenue that rolls up to a Workday ledger account. Transactions are routed to ledger accounts in account posting rules.

Sales Item

A sales item is more granular than revenue categories and can specify a unit of measure and unit price if applicable. It also can only fall under one revenue category.

Spend Authorization

Equivalent to a purchase order (PO) for travel or reimbursement other than travel (ROTT) in PeopleSoft.

Spend Category

Equivalent to category codes in PeopleSoft. This is what the user will select when making a purchase. It is a granular level of expense that rolls up to a Workday ledger account.

Supplier

Equivalent to a Vendor or Supplier in PeopleSoft.

Supplier Invoice

Equivalent to a Voucher in PeopleSoft.

Supplier Punchout

Supplier purchasing website hosted in Workday.

Worktags

Worktags are attributes/labels used in Workday to indicate the business purpose of a financial transaction. Multiple worktags are combined to accurately categorize transactions (multi-dimensional). Equivalent to Attributes in PeopleSoft.