Grants in Compass

Definitions

Award ID The same system-generated number as the Proposal ID

Begin Date and End Date: On pages that show options at the control ChartField and budget attributes level, these dates restrict budget journal entries to budget periods that are at least partially within these dates. This also restricts source transactions to those whose transaction (accounting) dates fall within these dates.

Budget Status: Also referred to as Status, which indicates whether the budget is Open, Closed, or on Hold

Business Unit: An identification code that represents a high-level organization of business information

Calendar ID: Budget period calendar ID

Control ChartField: The key ChartField that the Budget Processor uses to determine whether or not to enforce budget-checking

Commitment Control (Budget Tracking): A feature of Compass that can control various financial activities based on available budget, begin and end dates, or other budget rule sets, often referred to as the KK ledger.

Dept (department): ChartField that indicates who is responsible for or affected by the transaction

Drill Down: To return to the original source of transactions through various hyperlinks on Compass screens.

Effective Date: Date on which a table row becomes effective; the date that an action begins

Fund: ChartField that represents structural units for education and government accounting

General Ledger: The General Ledger is the official record of the University's and Healthcare's budgeting and financial transactions. The General Ledger includes revenue and expense transactions, assets, liabilities and fund balances.

General Ledger Group: Ledger group defines the ledger to which a journal will post (e.g., Actuals). A ledger stores the posted net activity for a set of ChartField values by accounting period and fiscal year. (Other types of ledger groups in Compass include Budget, Reporting, Consolidated, etc.).

Journal Entry: Journal Entry (JE) represents a document type and journal source. The document type JE would be used to indicate journal entries involving transfer of funds, moving expenses and correcting entries.

Journal Header: The first page entered to create journal entries in Compass General Ledger, which includes the overall journal information such as the ledger, the journal source, and descriptions.

Journal Lines: Detailed information within a transaction including the ChartField string and dollar amount.

Project: The Project/Grant ChartField is used to identify a discrete set of activities that occurs within a finite time period. Financial activity is limited to the dates associated with the ChartField. Activities associated with this ChartField may span multiple Departments, Funds and/or Accounts. For a more refined definition of this ChartField, there is a separate definition for each of the delivered types: Project and Grant. The main ddifference between the two types is that the Grant has specific sponsor and other non-ChartField information.

Project ID: System-generated number attached to a project.

Proj_Resource (Project Resource): Table in which transactions related to Projects (expenditures and some billing) are collected.

COMPASS/nVision: Specialized software that generates Excel spreadsheet reports from subsets of Compass data using COMPASS Query statements, ledgers and trees as input.

COMPASS Query: A query building tool provided by Compass. It allows users to build and run SQL (Structured Query Language) statements (queries) to extract specific information from the Compass database.

Revenue: Revenue is a legal representation of Emory’s ability to bill the sponsor. Revenue is created through the revenue recognition process when money is spent on a grant or other sponsored project.

Revenue Recognition (Rev Rec): Is a gaap* process when cash (revenue) is utilized (spent). When cash is spent, revenue is created. Therefore, revenue is recognized when it is utilized.

SmartKey: SmartKeys are used when there is a combination of Department, Operating Unit, Fund, Class and Project (optional) with related Project ChartFields.

Status: Indicates whether a row in a table is Active or Inactive. You cannot display inactive rows on transaction pages or use them for running batch processes. Inactivate rather than delete data you no longer use in order to maintain an audit trail.

Tree: ChartField trees are a graphic representation of your hierarchy or reporting structure. Trees are used in General Ledger to organize and maintain your ChartFields.

*GAAP: Generally Accepted Accounting Principle