General Glossary

Cancel (business process)

Canceling a business process stops the workflow in progress and reverses any changes made to Workday data. It is also a securable action in a business process security policy.

Chart of Accounts

A listing of all accounts used in a general ledger which is aggregated into a chart to create an organization's financial statements. Examples include expense and income types, along with assets and liabilities.


Custom Related Worktag that identifies the specific source of funds used for recording financial transactions.

Cloud Computing

Sometimes called on-demand computing, uses the Internet to provide shared computing resources and storage of records or documents.

Cloud-based ERP

An approach to ERP that makes use of cloud computing platforms and services to provide a business with more flexible business process transformation.

Combo Code

Similar to Speedtypes in Financials, these provide a shortcut to enter a valid combination of ChartFields in Workday for posting to the General Ledger.

Commitment Accounting

Method in which commitments (encumbrances) are recorded against an available balance, appropriation, fund, or contract authorization.


Workday’s term for pre-encumbrance. *see pre-encumbrance 


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, users can add conditions to steps in a business process to determine if the step should run.

Contextual Custom Report

A contextual custom report is a custom report created by selecting Reporting > Create Custom Report from Here from the related actions menu of a Workday object. It simplifies the selection of data and fields by limiting choices to those related to the context of the object.


Conversion, or data conversion, refers to the process of converting, cleansing, and verification of data from the legacy system to the new system.

Correct (business process)

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.

Cost Center

Related Worktag that identifies an organizational structure or unit with budget and financial responsibility. Cost Centers have been established for each college and VP area, generally mimicking Georgia Tech's operational structure.

Credit Memo

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.

Currency Rate Type

Allows users 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. Users can define names for currency rate types; typical names are Period Average, Daily, End of Day Daily, and Historical.

Current Asset

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.

Custodial Entity

Driver Worktag that identifies external funds held by the Institute from a related organization, where the Institute serves as a custodian or fiscal agent for the funds.


Employee responsible for an Asset.

Customer Accounts

Customer Accounts is the Workday functional area used to categorize Georgia Tech’s Accounts Receivable and Contract Management (Customers) process areas. Georgia Tech will be adopting the Customer Accounts term.

Customer Invoice Adjustment

A change to the amount a customer owes, and can be an increase or a decrease in the amount due.


The project cutover refers to the phase when the project goes live, which in the case with Workday will be a series of tasks that are performed to deploy the components from the pre-production environment to the production environment.