Financial Workdayology

Below you will find Financial terms used to identify Workday functionality. This list will expand further as more training is introduced and more functionality is added for users. For more on HR/Payroll Workdayology please click here.

Account Set - Chart of Accounts

ACH - A payment made electronically to a bank account using the Automated Clearing House banking network

Business Asset Tracking and Accounting - Fixed Assets and Inventory

Business Plan - Budget

Business Process - Workday’s Automated transaction workflow

Business Unit - Division

Company - Legal entity(Brown University)

Customer Accounts - Misc. Accounts Receivable

Custom Validations - Workday logic for a transaction that will require, or prevent, input to a field and ensure that needed worktags are populated

Design Partner - Member of Higher Education Strategic Advisory Board: Brown, Cornell, Carnegie Mellon, Georgetown, University of Southern California

EIB (Enterprise Integration Builder) - A tool for functional users to build simple and secure integrations with Workday via excel templates

Event - Transaction

Expenses - Reimbursements to employees for travel and other expenses

Financial Accounting - General Ledger

Financial Institution - Bank

Functional Area - Specific module, also known as "fun" area or workstream

iLoad - Tool used by Workday Consultants to perform high-volume initializing loads of a tenant via excel templates

Prototype - Experimental version of a future deliverable

Procurement - Purchasing

Punch Out - an automated integration that provides a link from Workday to a supplier site, like Office Max, so orders can be placed online using a Brown authorized catalog

Purchase Item - Product purchased from a supplier

SaaS or Software as a Service - Use of software owned, operated, and maintained by a provider (Workday) and accessed via the Internet

Sales Item - Product sold to a customer

Spend Category - A type of purchase (ex. Equipment); the spend category will link a purchase to a specific account and be used for reporting (formerly known as sub code)

Supplier - Vendor

Supplier Accounts - Accounts Payable

Supplier Registration - Procurement’s new process of collecting required supplier information in order to set up the supplier for use in Workday

Tenant - Instance of Workday system for a specific purpose

Workday - Means two things: The Workday Company or the Workday System (“Software as a Service” offering)

Workday Community - Web-enabled collaboration of Workday customers, staff, and partners sharing ideas and resources

Workday Product Roadmap - Workday plan and schedule for delivering future functions and features

Workday Release - Package of functions and features being delivered on a specific date

Workflow - An automated sequence of tasks to be completed in order to create an item in  Workday, such as a Requisition

Worktag - Name or attribute you can assign to events and objects to indicate their business purpose to make them easier to find, summarize, or use for reporting