The three-character alpha/numeric code assigned by OFM to identify each account. (See the Fund Reference Manual.)

A set of rules that dictate how monetary amounts in individual accounts are translated into a different currency. Translation rule sets are defined at an account-set level and apply to each account in that account set.

The basis of accounting whereby revenues are recognized when they are earned and measurable regardless of when collected, and expenses are recorded on a matching basis when incurred. All proprietary and fiduciary funds use the accrual basis of accounting.

Liabilities reflecting the obligation to pay for goods or services that have been incurred or received but not paid for by the end of the accounting period. Accrued liabilities related to refunds of revenue are offset to the revenue originally recorded.

See: Purchase

An activity is something an organization does to accomplish its goals and objectives. An activity consumes resources and produces a product, service or result. One way to define activities is to consider how agency employees describe their jobs. What do you do? For whom? Why is it valuable? For the Activity Inventory, an agency's work should be broken down into its discrete functions or services.

You can create 3 types of custom reports: simple, advanced, and matrix. An advanced report provides all the features of a simple report, plus more advanced ones such as accessing related business objects and producing multiple levels of headings and subtotals. Advanced reports also enable the use of sub-filters, run time prompts, charts, worklets, and report sharing, and provide the ability to expose the report as a web service.

Spending authority assigned to an agency from a lump-sum appropriation that is designated for expenditure by specific governmental units and/or for specific purposes, activities, or objects. For example, the Legislature may provide a lump-sum appropriation to OFM for allocation to agencies on an as-needed basis, or according to specified criteria.

A formal or official change made to a contract that adds, removes, or updates parts of the agreement such as performance period, pricing, scope adjustments, adds or removes products or services.

A set of defined rules that enable different applications to communicate with each other. It acts as an intermediary of the layer that processes data transfers between systems. 

You can assign positions to organization roles. Depending on your staffing model, a position may or may not necessarily have a worker specified.

Electronic payments commonly referred to as direct deposit and automatic debit. ACH is a low cost, safe and green payment method utilized by most state agencies to take advantage of economies of scale by processing transactions in batches rather than sending each payment separately.

Also know as default currency. The primary currency in which a company does business and reporting. For financial accounting, a company must have a base currency defined.

A debt instrument issued through a formal legal procedure and secured either by the pledge of specific properties or revenues or by the general credit of the state. Examples include bid bond, performance and payment bond. See: Form C-100 (2014) Section G.