Finance Glossary

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  • Budget Checking

    Definition:

    Enables you to control commitments and expenditures automatically by checking them against predefined, authorized budgets.

  • Budget Control

    Definition:

    Process in commitment control whereby transactions are approved and posted, only if they are sufficient.

  • Budget Row

    Definition:

    A valid ChartField combination in the system.

  • Business Owners

    Definition:

    Senior-level staff responsible for policy, administration, and oversight of the functional areas being addressed in FIN ERP, i.e. Budget, Finance, Human Resources, Sponsored Projects, and Sourcing and Procurement.