Glossary of Terms
A|B|C|D|E|F|G|H|I|J|K|L|M|N|O|P|Q|R|S|T|U|V|W|X|Y|Z
A
Terms |
Definition |
| Accounting Date | The date of transaction by default is today's date. You must select an accounting date when you create a journal using Web ADI. |
| Articles of Agreement | A detailed description of the services, equipment and products showing what is to be accomplished and the level of detail needed for success. |
| Attachment | Electronic documents such as invoices, spreadsheets and contracts which can be attached to a journal by using the "Paperclip" icon on the toolbar in the RIAS application. |
B
Terms |
Definition |
| Beginning Balance (Beg Bal) |
The amount from the beginning of the fiscal year to the beginning of the current period (month). |
| Bid Conference | A formal meeting with bidders to provide additional information and a time for bidders to seek clarification of points related to the bid. |
| Bid Package | One or more documents that are provided to vendors (bidders) that explain what is needed, solicits information and makes them aware of Rutgers University term & conditions that is stated above. |
| Blanket Order | A purchase order for a defined period of time most frequently used for repetitive purchases. |
| Business Managers Group (BMG) |
One of the project's support groups. It represents the business managers and their peers on all three regional campuses. |
| Buyer | A person within the purchasing department that has the authority to make purchases on the behalf of the university. Buyer can also mean Rutgers when used in a specification or in Terms and Conditions. |
C
Terms |
Definition |
| Change Order | A written document used to make of a change to an existing purchase order. |
| Chart of Accounts (COA) | Chart of Accounts (COA) are the charging instructions used by the university to record transactions and maintain/report account balances. It consists of 6 segments in the following order: 1. Fund Group 2. Fund Source 3. Organization 4. Natural Account 5. Project 6. Future Use. The COA is displayed with a period between segment values (e.g.; 99.999999.99999.99999.999999.000). Note: the sixth segment is reserved for a future use and always contains a default value of 3 zeroes. |
| Competitive Bid | A process used to have more than one vendor provide a price for the same item. This the best technique proven to control or reduce the price paid for goods and services. |
| Conflict of Interest | When a university employee would have a direct or indirect financial benefit due to a buyer's decision. |
| Contractor | A person or a business that follows an independent trade, business or profession in which they provide goods or services to the public. |
D
Terms |
Definition |
| Data Warehouse | The data warehouse consists of derived tables and data from the RIAS application. The data warehouse will make it easier in creating standard and ad-hoc reports with Discoverer. |
| Descriptive Flexfields (DFF) | Captures additional information from transactions entered into the General Ledger that would not otherwise be captured by the screen. |
| Discoverer 10g | A reporting tool developed by Oracle that provides ad-hoc query, reporting and analytical capabilities. It automates the analysis and reporting of data by providing views of data within the Oracle data warehouse. |
E
Terms |
Definition |
| Estimated Unit Price | Unit prices are those acquired by previous orders or present market price knowledge, catalog pricing, etc. |
| Extended Budget Responsibility Code (EBRC) |
An attribute that relates every account to two levels of responsibility. A major level consisting of a President, Vice Presidents and Provosts and a minor level consisting of middle management personnel such as Deans and Directors. EBRC will be used as a security feature to dictate what type of access to data a user will have within the General Ledger system. |
F
Terms |
Definition |
| Flexfields | An Oracle feature that allows screens and reports to capture and display specific information you want. There are two types of flexfields: Key and Descriptive. |
| Free on Board (F.O.B.) | The point of delivery where title of goods transfers from the seller to Rutgers. |
| Fund Checking | The process of certifying that sufficient funds are available from the funding source to cover the amount of the transaction. |
G
Terms |
Definition |
| General Ledger | One of the Oracle integrated applications that represents the university's official financial records. The General Ledger provides online ability to create, change and approve journal entries and budget adjustments. |
| Generic Description | Contains basic parameters, specifications written in such a manner as to not restrict purchase to one (1) vendor. |
J
Terms |
Definition |
| Journal (Former Reference Code: JE) |
A journal entry. Users can enter 3 types of journals -- Actual, currently known as journal entries, Non Salary Budget Adjustments and Encumbrances (commitments). A journal entry on a report will display as RU Actuals Journal. |
| Justification Letter | Detailed letter having all essential criteria effecting selection. Can/should be written by the department and attached to the requisition. |
K
Terms |
Definition |
| Key Flexfields | Key Flexfields are used to identify general ledger accounts, inventory and other business entities. |
M
Terms |
Definition |
| Material Safety Data Sheets (MSDS) |
A document provided by a manufacturer that details the chemical makeup of a product and describes safety and emergency treatment issues. |
| Minority Business Enterprise (MBE) |
A minority has 51% ownership of a business. |
N
Terms |
Definition |
| Natural Account | Previously referred to as an Object Code/Sub Code. The segment of the accounting flexfield that determines whether the account is an asset, liability, equity, revenue or expense account. |
O
Terms |
Definition |
| OEM | Original Equipment Manufacturer |
| Online Financial Information System (OFIS) |
The Rutgers legacy system that provides online access to financial accounting, budget and payroll data to authorized users. OFIS will continue to house historical financial data and support Budget System functionality after the Oracle General Ledger is implemented. |
| Oracle | The name of the supplier (Oracle Corporation) from whom the RIAS application software has been purchased. |
P
Terms |
Definition |
| Period | Monthly calendar dates, as defined by the Controller's Office. Periods are shown in the General Ledger in the following format: MON-FY (Example: FEB-09). In addition to the twelve monthly accounting periods, there will be an Adjusting period in June, equivalent to our TB (trial balance) periods. When you create a journal in the RIAS application, you will select the open period designated by Central Accounting. |
| Period To Date (PTD) | Cumulative amount of period (monthly) activity only. For example amounts posted from March 1st to March 10th. Period to Date does not include the beginning balance for the period. |
| Preferred Supplier | A designation purchasing gives to a supplier(s) and special pricing or service has been negotiated. The primary means of leveraging the full buying power of the university. |
| Project Management Team | Provides overall management and decision making support to the RIAS Implementation Team. |
| Project To Date (PJTD) | Amount from the start of the project to date. |
| Purchase Agreement | A Rutgers Purchase Order which may also include General Terms and Conditions, Supplemental Terms and Conditions, Specifications, Drawings and Change Orders. |
| Purchase Invoice (Former Reference Code: VN) |
Voucher number. |
Q
Terms |
Definition |
| Quarter to Date (QTD) | Amount from the start of the quarter to date. |
| Query | A user's request for information. |
R
Terms |
Definition |
| Release | Individual procurements issued by the end user and based upon the terms and conditions of an established blanket purchase order. |
| Request for Information (RFI) |
A solicitation requesting information about a service or product. |
| Request for Proposal (RFP) |
A solicitation requesting proposals as to how the vendor would address the need identified in the RFP and the price that will be charged. Price will not be the determining factor. |
| Request for Quote (RFQ) | A solicitation requesting a price to provide a specific item or service. |
| Responsibility | Assigned to each user, a responsibility is a set of data, menus and forms that defines an individual's level of authority to process transactions within the system. Several users share the same responsibility; a single user can have multiple responsibilities. |
| Rutgers Integrated Administrative System (RIAS) |
A multi-year, multi-phase initiative to improve Rutgers efficiency and effectiveness by replacing out-dated administrative systems and related processes. |
| RU Budget - Original (Former Reference Code: BA) |
Original budget load. |
| RU Budget - Temporary Adjustment (Former Reference Code: AD) |
An increase or decrease to a budget amount which remains in effect only for the current fiscal year. |
| RU Bal Fwd-System (Former Reference Code: BF) |
Balance forward transactions from the prior year to the new year. |
| RU Cash Receipts (Former Reference Code: CC) |
Cash receipts. |
| RU FACO | Facilities and Administrative Costs (Indirect Cost). |
| RU FAMS (Former Reference Code: V, W and X) |
Financial Aid |
| RU Legacy Payroll (Former Reference Code: PR) |
Payments of salaries and wages (payroll) |
| RU SAR (Former Reference Code: SR) | Student Account Receivables |
| RU Telephone Charges (Former Reference Code: TE) |
Telephone charges |
| RU Travel ITT (Former Reference Code: TI) | ITT travel |
| RU Travel Worldtek (Former Reference
Code: TW) |
Worldtek travel |
| RU WOLP (Former Reference Code: WP) | Web online payments |
S
Terms |
Definition |
| Scope of Work (SOW) | A detailed description of the product or service being requested. |
| Segment | A segment is a single sub-field within a flexfield and is represented in your database as a single table column. |
| Selection Criteria | Based upon an evaluation of the vendors' capabilities, including their expertise, ability to meet schedule, size, organizations and past experience. The attributes that will be used to make a vendor selection or buying decision. |
| Seller | The business providing the good or service. |
| Services | Shall mean design, engineering, installation, testing, evaluation, maintenance, repair, management, consulting and any other services necessary to fulfill Seller's obligations under the Purchase Agreement. |
| Single Source | Multiple vendors are available to provide a good or service but there is a business reason for making the purchase from a specific firm. |
| Sole Source | Only one firm can supply the good or service. |
| Subcontractor | A contractor working for a "prime" contractor. |
T
Terms |
Definition |
| Terms & Conditions | Stand alone clauses that define the understanding between a buyer and a seller. |
W
Terms |
Definition |
| Web ADI | Application Desktop Integrator. This is an Oracle tool that allows you to design and upload a spreadsheet for journal entries to the General Ledger and post these entries to account balances or data can be downloaded into a spreadsheet for review and analysis. |
| Women Owned Business (WBE) |
A woman has 51% ownership of a business. |
| Workflow | The process of electronically forwarding information in RIAS to individuals when their action or attention is required. For example, in P2P an approver is notified when a requisition has been created and requires approval. |
Y
Terms |
Definition |
| Year to Date (YTD) | Amount from the start of the fiscal year to date. |
