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The ABC’s of Finance

The following page is designed to help you quickly find information about a variety of topics in eVA and Banner as well as providing links to more detailed information. In addition, information is provided about some of the agencies responsible for defining policies and procedures governing how UMW, as a state-funded University, is required to conduct business.

This page was created to help streamline the search for information about Finance topics and to provide easy access to forms and procedures. If you have additional topics you would like to see added, please email them to clumpkin@umw.edu.

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

  • Account Code: A five-digit code that identifies the purpose of the transaction.
  • Activity Code:This is an optional six character code that can be used to capture the total costs of an activity across the entire University or further define ORG code expenditures.
  • Ad Hoc Vendors: Vendors not registered with eVA that must be entered manually as suppliers for a one-time purchase. Ad Hoc vendor entries are not saved in the eVA system and must be re-entered each time an order is placed with that non-registered vendor.
  • Approval Flow: The process by which orders are approved and forwarded for processing. eVA orders enter the approval flow when the user submits the order. Other approvers, including a member of the Purchasing staff, any staff members listed as Watchers on an order and, if the order must be faxed or mailed to the vendor, the user who submitted the order, receive notification of the pending order and choose to approve or deny the order. Once fully approved, eVA transmits the order information to the vendor (or the user prints and mails the order) and the eVA status is changed to “Ordered”.
    Direct Pay orders enter the approval flow when the user enters the invoice into Banner and marks it as Complete. The order then enters the Accounts Payable approval queue, is reconciled against the paper invoice from the vendor and, if approved, is routed for payment.

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B

  • Bank of America Visa – The provider of the Small Purchase Credit Card Program; commonly referred to as the SPCC.
  • Bids: An informal method of solicitation by the Purchasing Department through eVA for goods and services over $5,000.00.
  • Budget: Pre-authorized allotment of operational money requested by individual departments and approved and provided by University administration.
  • Budget Queries: Tools in Banner SSB and INB where budgets can be viewed by account or organizational hierarchy.
  • Business Meal Form: This form is required for approval of business meal reimbursements and outlines the restrictions on how meals may be paid for and the limits for cost of meals. Please see the Accounts Payable website for more information.

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C

  • Cancel a Purchase Order: Tool to help cancel a contract with a vendor. Anytime before an item is marked as received in eVA, the purchase order may be canceled by selecting your order from the status items menu and clicking the “Cancel” button at the top of the screen.
  • Capital Outlay: A disbursement of money which results in the acquisition of or addition to fixed assets, i.e., land acquisition, building and construction, addition, renovation. UMW assigns all Capital Outlay projects a five-digit fund beginning with 9 which is administered by the Facilities Department.
  • Catalog Orders: Orders placed for items available through the eVA “Explore Catalog” function including, but not limited to, Punchout catalog items.
  • Central Storeroom/Surplus: Provides campus stock of basic office supplies and manages surplus property including the transfer of fixed assets between departments and the disposal of property through surplus sales.
  • Change Orders: Orders placed to modify or correct data previously included on eVA orders; generates a new version of the original order.
  • Charge Backs: Campus expenses that are paid to the vendor by the University then charged back to the individual departments which incurred them. Examples include telephone service, utilities, pool cars, bookstore and copy charges and Small Purchase Credit Card (SPCC) purchases . Charge backs are automatically deducted from departmental budgets and appear with a transaction code beginning with “XA”.
  • Commodity Code: Codes extracted by eVA to describe the types of goods or services provided by vendors. Vendors provide the Commodity codes under which they should appear when registering with eVA.
  • Composing: The status assigned to eVA orders that have been saved, but not submitted for approval.
  • Computers and Software: All computers and software, including peripheral equipment such as fax machines, scanners and printers, must be requested through the Department of Information Technology (DoIT).
  • Concerto: A mandatory state vendor of office supplies. Orders should be placed through eVA.
  • Copy Center: UMW Department which provides a wide-variety of copying, finishing, shredding, laminating and other services at a reduced cost to faculty, staff and students.

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D

  • Denied Orders: Status assigned to eVA orders when state purchasing procedures are not followed or if vital information is missing from the order. Except in extreme circumstances, the Purchasing Department will not deny an order, but instead will contact the user and ask them to change the order to meet guidelines.
  • Department of General Services (DGS): State agency devoted to making it easier for government to do business by providing services to citizens, the Commonwealth and businesses. DGS outlines UMW’s requirements for doing business as a state agency.
    • Division of Purchases and Supply (DPS): A division of the state’s Department of General Services responsible for the management of the eVA purchasing system.
    • Office of Graphic Communications (OGC): A creative resource that serves state agencies, colleges and universities, local government, and non-profit organizations and is the mandatory source for design services with estimated costs over $750.
  • Design Services: UMW Department which provides graphic design services, printing bid processing and order tracking at no cost to faculty, staff or students.
  • Dining Services: Provides campus meals in five locations and professional catering at various levels of cost and service.
  • Direct Pay: Process for entering check request for eVA exception items and services including, but not limited to, honoraria, memberships or subscriptions and lodging expenses. Consult the Direct Pay Request Table for a list of eVA exceptions.

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E

  • Encumbrance Query: Tools in Banner SSB and INB which allow users to view encumbrances by account with specific FOAPAL parameters.
  • Entity Code: The code by which the eVA system recognizes which state agency is acquiring goods or services. UMW’s entity code is 215.
  • eVA: A web-based purchasing system used by Virginia government agencies to announce bid opportunities, receive quotes and place orders for goods and services.

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F

  • Fiscal Year: The 12-month period on which the budget is planned. UMW’s fiscal year begins July 1 and ends June 30.
  • Fixed Assets: A long-term tangible asset held for business use, such as furniture and equipment. Fixed assets are managed by the Accounting office and may be transferred between departments by contacting the Central Storeroom.
  • FOAPAL: The string of number used to identify the source and purpose of the expenditure. The FOAPAL is made up of the Fund, Organization, Account, Program, Activity and Location.
  • Folders: An organization tool in eVA which allows orders to be placed in seperate folders for easier tracking and management of orders.
  • Foundation Funds: The UMW Foundation manages accounts containing funds donated by alumni, parents, friends and businesses for the benefit of the University. These funds are completely separate from the University’s budget. The documents establishing each Foundation fund identify the spending authority for that account. A Request for Foundation Funds must be approved and submitted before funds are issued by the Foundation.
  • Fund Code: A four or five character code that identifies the funding source 

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G

  • Grants: Funds dispersed by an agency (i.e. government, corporation, foundation) to the University for a purpose usually defined by a proposal or application. Faculty development grants are administered by the Budget Office during the normal budget development process. Visit the Grants Office website for information regarding external grants.

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H

  • History: A tab available on the eVA purchase order summary describing all actions taken on the order from it’s submission to it’s receipt.

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I

  • Index Codes: A six character code used to default FOAPAL codes and ease data entry.
  • Internal Audit: UMW Department which provides objective and independent analysis of the operations of this institution and, where necessary, makes recommendations for improving the reliability and integrity of information, compliance with laws, the safeguarding of assets, and the economy and efficiency of operations. Contact the Internal Audit department for assistance with compliance concerns.
  • Invoices: A formal request for payment from a vendor describing the goods or services provided, quantity and prices. Unless specified otherwise, invoices are paid by the Accounts Payable staff 30 days from either the date the goods or services were received or the date the invoice was received, whichever is later. Goods or services eligible for Direct Pay do not require an invoice, but an Invoice for Direct Pay Request Form (FAAINVE) must be completed in Banner.

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J

  • Journal Entries: Financial transactions which appear on departmental budgets for specific purposes such as encumbrance corrections, budget adjustments and charge backs.

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K

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L

  • Location Code: A six character code that identifies physical locations. The University uses location codes for Fixed Asset and specific expenditure tracking.

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M

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N

  • Non-Catalog Item: Any item ordered through eVA which is not available in the “Explore Catalog” section of the system.

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O

  • Organization Code: Also referred to as an ‘ORG’- A six character code that identifies a unit of budgetary responsibility and/or department within the University.
      • Over The Counter (OTC) Purchases: Purchases that are made at the site of the sale and picked up by the individual cardholder. The order does not have to be entered into eVA but a small business quote  is required.

 

P

        • PCard Order: Orders placed in eVA using the SPCC. To place a PCard order, users must set-up their SPCC information in eVA, ensure that their selected vendor accepts the card and check the box on the first screen of the requisition. Once approved, eVA assigns these transactions a PCO number rather than a DO number and transmits the credit card information to the vendor if the vendor is eVA registered and receives electronic orders within the eVA Ariba network. Charges appear on the SPCC statement and must be reconciled according to normal procedures. If a vendor is not eVA registered or does not take electronic orders but does accept the credit card, you may call the vendor directly.
        • PO Category: The category code which defines the relationship between the vendor and eVA. The most common PO category codes are “R01″ for eVA-registered vendors and “R02″ for non-eVA registered vendors. Contact Purchasing before using other codes (Emergency, Sole Source, etc.) to ensure your purchase meets the qualifications.
        • Pre Pays: Payments made prior to the receipt of goods or services. Depending on the type of prepays, they may be entered into Banner as a Direct Pay, or they may be entered into eVA to create a purchase order. In either case, the length of service or provision must always be written on the Direct Pay or the eVA form, referencing the month and year only.
        • Program Code: A five character code that identifies the function or purpose of the Organization or function on campus.
        • Prompt Pay Due Dates: Virginia requires that invoices not listing a specific due date be paid 30 days from the date the goods or services are received or from the date the invoice is received, whichever is later.
        • Punchout Catalog: A software application making it possible to access a supplier’s online catalog directly through the eVA system.
        • Purchase Order: A contract submitted to a vendor through eVA containing item, quantity, price, discounts, vendor information, and ship-to information.
        • Purchasing Card: Also referred to as the Small Purchase Charge Card (“SPCC”), the PCard or Bank of America Visa.

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Q

        • Quick Quotes: An eVA tool used by the Purchasing Department to informally solicit for goods and services exceeding $5,000.00. Contact the Purchasing Department to obtain a Quick Quote.

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R

        • Receiving: The process by which users verify goods or services were received by the department in accordance with the purchase order contract. When purchase order items are received, the Receiver Document Form (FPARCVD) must be completed in Banner INB listing the date and items which were received. Based on the data entered in the Receiver Document, Accounts Payable determines the appropriate payment date and reconciles the goods against the invoice.
        • Reconciliation: The act of balancing debits, credits and totals. SPCC cardholders and cardholder managers should log in to WORKS (Bank of America) and sign off on transactions as they are notified by WORKS via email. Budget managers should also reconcile expenditures against their budget regularly to ensure that expenses have been assigned to the correct FOAPAL.
        • Records Destruction: State agencies may not discard or destroy public records without consulting and adhering to a retention and disposition schedule approved by the Librarian of Virginia. Prior to disposing of public records, a Certificate of Records Destruction must be completed and approved. After destruction, the Certificate must be sent to the Library of Virginia. Before destroying public records, contact Ruth Lovelace, UMW Compliance Manager.

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S

        • Security: The Banner system requires that users be assigned specific securities related to their function as a campus purchaser. These securities restrict the Funds, Orgranizations and Programs to which purchasers have authority to make expenditures. Users must submit a UMW Administrative Data User Account Form signed by their supervisor before user securities may be assigned.
        • Small Purchase Credit Card (SPCC): The credit card program administered by the Purchasing Department through Bank of America. The SPCC is intended to streamline the procurement process for purchases under $5,000 by combining multiple vendor invoices into a single monthly charge card invoice. This reduces the number of accounts payable transactions and the costs associated with these transactions. To obtain a SPCC, employees must submit the appropriate forms and attend training. Cardholders are required to submit monthly log sheets of their expenditures. For a detailed explanation of the card requirements, read the Purchasing Card Manual.
        • Solicitation: The process of notifying prospective vendors that the University wishes to receive offers, known as bids or proposals, on a set of requirements to provide goods or services. Solicitations are made by the Purchasing Department.
        • Split Accounting: The cost of a good or service may be shared among different FOAPALs by splitting the accounting of an order in eVA.
        • Supplier: Also referred to as a vendor; the company or individual which supplies requested goods to the University.
        • Supply Room: A mandatory state vendor of office supplies. Orders should be placed through eVA.

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T

        • Tax Exempt Form: A form that may be required by a vendor to verify that a purchase is being made for the use or consumption of a state agency and therefore exempt from sales tax. If you need a copy of the form, please contact Purchasing.
        • Training: Training is available on Banner, eVA, Purchasing and other important financial functions. Information regarding Banner and eVA classes is available on the Training Calendar or by contacting Vickie Chapman or Lynn Norfleet. Information regarding Purchasing and SPCC training is available on the Purchasing site or by contacting Melva Kishpaugh.
        • Term Contract: A purchase contract that continues for a specified fixed period usually not less than one year.

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U

        • University Contracts (See also Contracts): In addition to state mandated contracts, the University has contracts for services specific to the University managed by contract administrators. For questions related to these contracts or services, contact the appropriate administrator.

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V

        • Vendor: Also referred to as a supplier; the company or individual which supplies requested goods to the University.
        • Vendor Assistance: If you learn that the information listed for a vendor in eVA is incorrect, please notify the vendor and direct them to the Vendor Assistance section of the Purchasing website for resources on how to update their information with the appropriate state agency. If you discover vendor information in Banner that you believe to be incorrect, email Accounts Payable with the updated information.
        • Vendor Information: Information regarding vendors is collected for the processing of orders in the eVA and Banner systems. Vendor information is available from the Vendor Look-up selection of the drop-down menu inside the eVA portal or from Banner INB form FTMVEND. All vendors must complete a Vendor Registration Application before doing business with the University.

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W

        • Waivers: A process for alleviating specific requirements imposed by the University or the State to purchase from a mandatory source. Any requests to waive University procedures must be completed and signed prior to making purchases. Releases from VIB or VCE for goods that they provide must be processed through the Purchasing Department.
        • Watch Requests: The status assigned to eVA users in the Approval Flow of orders on whose behalf an order was submitted by another user. While a watcher is not required to approve an order, being added provides notification of the requisition and allows the watcher to view the completed purchase order.
        • Withdraw a Requisition: Prior to completion of the approval flow, a requisition may be canceled by withdrawing the request. This can be done by selecting the requisition from the submitted menu and clicking “Withdraw” at the top of the screen.

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X

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Y

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Z

        • Zero Line Items: A line item or a Purchase Order with zero dollar value. Non-term contracts must be closed by System Support to ensure that the encumbrance line is closed on the departmental budget.

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