Princeton Financial Glossary - V

Valid Business Need

The use of a mobile communication device by an employee is for the benefit of the university in the furtherance of its mission, rather than the convenience of the employee. A valid business need is the need to be readily accessible for contact with the public or with university faculty, staff, or students, coupled with the impracticability of a regular land-line telephone for required or essential business communication needs due to one of the following:

  • Frequent travel, working at a remote location, etc.
  • The need to receive or initiate communication in emergency situations
  • The need to be accessible and available during non-business hours or by electronic means at all times

Vendor Database

The central database of vendors maintained in the PeopleSoft Financials system.

Vendor Voucher

A form used to request payment of a University expense to an outside individual or entity, not incurred via payroll or purchase order.

Verifier

An individual responsible for reviewing the accuracy of each transaction in the online credit card system on a monthly basis; may be the cardholder or the cardholder’s proxy.

Visa

An endorsement on a passport by an embassy or consular official which allows an individual to apply for entry to the U.S. for a specific purpose (i.e. a B -1 visa allows entry as a visitor for business, an F-1 visa allows entry as a student, an H-1B allows entry as a temporary worker in a specialty occupation). The visa does not convey status nor dictate the duration of an individual's stay in the U.S. A visa may expire while the individual is in the U.S.

Visa Status

Granted upon entry to the U.S. or adjudication of an application by an immigration officer which is limited in purpose and duration. It is noted on the I-94 arrival departure record issued at a port-of-entry or as the result of an application adjudicated within the U.S. The visa status may or may not match the visa stamp in the passport on which an individual entered the U.S. (i.e. one could enter with an F-1 visa, go to school and then change the status to H-1B temporary worker while in the U.S.). The changed status would be denoted on the I-94 form.

Voided Check

A check that was issued in error and is voided with the bank.

Voucher

At Princeton the voucher is a documentary record of a business transaction that specifies payment or cash receipt details. There are a number of vouchers including: Accounts Payable, Journal, Interdepartmental Invoice, Electronic Interdepartmental Invoice, Cash Receipt.


 

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