Understanding core financial and procurement terms used across the IRCF platform:
Accounting – General ledger system for managing income, expenses, and balance sheets.
Double Entry – A method of bookkeeping where each transaction affects two accounts, ensuring financial accuracy.
E-Invoice – Digital invoice issued for donations, vendor payments, or grants.
Budget Planner – A tool for pre-allocating funds across projects or departments.
Financial Goal – A financial target to be achieved, often linked to grants or internal initiatives.
Procurement – The process of tendering, selecting, and contracting vendors for goods/services.
These terms appear in dashboards, reports, and templates.