Acronyms & Glossary

TermDefinition
Ad hoc ApproverAn additional approver assigned to review a transaction by another reviewer in the approval workflow as defined by departmental business process.
Approval Workflow (AWF)Electronic approval process for transactions in the system. Transactions in OFC are automatically assigned to the Funding Source Person and Supervisor of the Traveler/Requester.
ApproveAn action taken in OFC to approve a transaction that has been routed to an employee for review.
Blanket Purchase Agreement (BPA)The mechanism used in OFC to track Independent Contractor contracts and payments and issued by Accounts Payable.
CommitmentRefers to the encumbrance type for approved requisitions.
DelegateAn employee to whom another employee grants the ability to (1) enter expenses and/or (2) approve transactions on his/her behalf.
Duty of CareEmployers have a duty of care obligation for the health, safety, security, and well-being of their employees as they fulfi ll their work obligations.
EncumbranceA budget tool used to hold funds for a purchase until it is received and payment is initiated.
EntererThe employee that enters a transaction in OFC to include Expense Reports and Purchase Requisitions.
EXM_EXPENSE_AUDIT_RULESA role in Expense approvals. It is the first approval needed after an Expense Report is Submitted.
Expense ReportThe mechanism used in OFC to reimburse employee expenses.
Funding Source PersonAn approver assigned to review a transaction according to the department segment used for billing and defined by campus.
ImplementedThe status of the purchase order that has been approved before the status changes to Open
Independent ContractorAn individual who provides a service to the university, has been classified as an Independent Contractor, and has a signed contract.
Invoice PaymentA request initiated through OFC to pay for goods and/or services from a non-employee individual or entity that cannot be paid for with the P-Card. This process is for goods already received and does not include payments to Independent Contractors.
LifecycleThe history of transactions tied to a specific requisition. The Lifecycle activity includes the requisition, purchase order, receiving, and invoicing.
LiquidatedThe status of a project funded purchase order after it has been paid.
No Cost TravelTravel paid for by the employee or a third party. The university assumes no responsibility for costs associated with travel.
ObligationRefers to the encumbrance type for approved purchase orders.
OperationsThe operating ledger that captures revenue and expense activity.
Oracle Financials Cloud (OFC)The web platform used to enter, review, and approve transactions including Expense Reports and Purchase Requisitions.
OrgSync A web platform used to route and process requests for University Financial Services.
Person (Expense module)The employee who will be reimbursed.
Personal TravelTravel of a personal nature scheduled in conjunction with business travel.
POETIndicates a restricted funding source used to pay for a transaction. It will include a project number, department segment, account code, and task number.
RejectAn action taken in OFC to reject a transaction that has been routed to an employee for review.
RequesterIndicates the employee requesting a purchase requisition and drives approval workflow.
Standard RequisitionThe mechanism used in OFC to pay suppliers for goods and services including independent contractors and standard requisitions.
SupervisorAn approver assigned to review a transaction according to the requester or traveler and defined in Human Resources.
SupplierA non-employee individual or entity.
Travel AuthorizationThe mechanism used to preauthorize travel, create travel encumbrance, and exercise duty of care over university employees.
VarianceThe difference between a budgeted, planned, or standard cost and the actual amount spent.
WithdrawAn action taken in OFC to recall a transaction that has been submitted for modification.
Non-Asset GoodsAny item with a unit cost of less than $2000 is not an asset. Any item that has a unit cost of more than $2000 but a useful life of less than one year is not an asset.
Tagable Asset GoodsAny item with a unit cost of $2000 or more and that has a useful life or service period of more than one year. In addition, any donated item that has a fair market value of $2000 or more at the time of donation and a useful life or service period of more than one year must be tagged.