Below are definitions of terms that are commonly used by the Finance Division.
A five-digit number that defines or classifies the type of income or expense.
A nine-digit number identifying a U.S. bank. It is required for all Electronic Funds Transfer (EFT) requests.
An electronic funds transfer that is deposited into the recipient’s bank account no less than one business day after the payment instructions are provided to Northeastern’s bank.
The Northeastern American Express card—also called the NUCard. It’s an efficient way to make work-related purchases that are less than $5,000. Northeastern’s AMEX cards have a single transaction limit of $5,000 and a monthly limit of $10,000.
Northeastern’s official reporting tool for Operational Data Store (ODS), the system in which university data is stored. Employees use Argos to perform a variety of functions, from making simple queries to creating advanced dashboards with interactive charts.
Also known as Self-Service Banner (SSB). Northeastern’s financial management software for setting budgets, recording revenue and expenses, paying vendors, and encumbering funds.
A vendor’s written offer to supply goods or services in response to a Request for Proposal (RFP) or other type of solicitation.
Cardholder Agreement Form
A form that new cardholders must sign to confirm that they understand how to properly use the university’s AMEX card.
A payment processed using Northeastern’s central payment aggregation system. The system includes online portals for student tuition and fees, as well as e-commerce storefronts and checkouts.
CBS (Company Billed Statement) AMEX card
Previously known as the Blue AMEX card, this Northeastern-issued credit card is used primarily for the purchase of goods and supplies.
A document that the purchaser is required to fill out when changes occur to a purchase order, including changes in price, quantity, delivery date, and/or scope of work.
A web-based tool that Northeastern uses to run reports about a variety of financial functions. Data in Cognos is current as of the previous evening.
Also known as SAP Concur. Concur is Northeastern’s travel and expense management program. It is used by full-time, benefits-eligible employees to request reimbursement or reconcile expenses on AMEX cards.
A company that pools the purchasing power of like-minded organizations to achieve favorable contract terms on products and services for those organizations.
A binding agreement between two or more parties.
Department Deposit Form
The form used when a department submits cash or checks for deposit to Treasury Services.
Designated Fund code
A six-digit code starting with 3 that is assigned to a college or department for the purpose of allocating money.
Direct Pay (DPay)
A method used to request that a supplier be paid. It applies if the payment is less than $5,000 and the purchaser has already received an invoice.
Any Electronic Funds Transfer (including ACH and wire payments) from domestic and international banks.
Northeastern’s preferred vendor for booking travel plans online.
An Employee/Independent Contractor Certification form that is required to certify new or amended projects performed by individuals.
A payment that can be sent in any currency to banks all over the world. These are not payable through Accounts Payable or Payroll and can only be processed by Treasury.
Endowment Fund code
A six-digit code starting with 4 that identifies a donation that is restricted based on an agreement with a donor. The money is invested; income from the investment is spent for a purpose approved by the donor and Northeastern.
A web-based reporting tool that displays data on a variety of financial functions. Data in e-Print is current as of the previous evening or the previous month, depending on the report.
An informational review of the terms of a student loan. It includes the loan amount, interest rate, and due date.
Expense Voucher Reimbursement
A form that students, contractors, or part-time employees must complete to be reimbursed for university-related expenses.
An online portal through which Northeastern employees can perform or view several functions, including human resources and financial tasks.
An electronic funds transfer that is deposited into the payee’s bank account on the same business day that the payment instructions are provided to Northeastern’s bank.
A six-digit code that identifies how the university’s money is intended to be spent or allocated.
International Bank Account Number.
A person that provides goods or services to Northeastern under terms and conditions specified in a contract. Unlike regular university employees, independent contractors do not have income taxes withheld.
IBCP (Individual Billed Company Paid) AMEX card
Previously known as the Green AMEX card, this Northeastern-issued credit card is primarily used for travel-related purchases.
A six-digit number that identifies the budget of every department at Northeastern.
A document sent from a supplier listing the goods or services they’ve provided and requesting payment.
A transaction that combines all of a borrower’s federal loans under one servicer.
Memorandum of Understanding (MOU)
A document that outlines the terms of a nonbinding agreement between two or more parties.
An online platform that is Northeastern’s preferred channel for purchasing goods and supplies.
A single, non-recurring payment made by credit, debit, or e-check.
A six-digit code that defines a department within a division.
Plant Fund code
A six-digit code starting with 7 that relates to capital projects (buildings, classrooms, etc.).
A supplier with whom Procurement Services has negotiated purchasing agreements and universitywide contracts.
Procure to Pay (P2P)
A Northeastern policy that promotes the purchase of goods and services in an efficient, cost-effective way that complies with laws and regulations. It applies to all employees who make purchases or place orders on the university’s behalf.
A document that describes what goods or services are being purchased, from whom, at what price, and under what terms. It serves as the legal and binding contract between both parties. A requisition becomes a purchase order when the order is placed.
An offer to supply goods or services, usually in response to a request for quotation. “Quote” is often used interchangeably with proposal, tender, bid, and offer.
A payment that is automatically debited from a checking or savings account on a monthly basis.
A purchase request entered in Self-Service Banner (SSB) by a Northeastern department to describe what the user wants to buy.
Restricted Fund code
Also known as Concur. Concur is Northeastern’s travel and expense management program. It is used by full-time, benefits-eligible employees to request reimbursement or reconcile expenses on AMEX cards.
A Microsoft tool used by several Northeastern departments for collaboration and content sharing.
Self-Service Banner. Also known as Banner Finance. Northeastern’s financial management software for setting budgets, recording revenue and expenses, paying vendors, and encumbering funds.
Also known as a SWIFT number. It is used to identify banks and financial institutions globally.
A software platform for financial planning, budgeting, and forecasting.
A set of account codes used when transferring funding to or from a non-operating index.
A business that provides goods or services to Northeastern.
A nine-character code assigned to every vendor, employee, or visitor who needs to be paid.
An IRS form commonly used by businesses, contractors, and other organizations to request taxpayer identification information.