Finance Terms

infoodle uses a number of terms to facilitate its workings. The intention is to use commonly used terms, but also try and make them generic to different type of organisations. Below is a table of the key terms.

infoodle Definitions & Terminology for Different Countries

Different countries use different terms which can cause confusion. Here are a few definitions that hopefully will make things a bit clearer.

Household

Households/Organisations help sort people into collections based on their living arrangements or affiliations. Infoodle uses the term household to either describe multiple people that live at the same address e.g. family members or multiple people that work at the same address e.g. colleagues working for the same organisation. It is important to note that Households/Organisations are not the same as Groups.

Receipts & Statements

In infoodle terms our definition of a Receipt (also referred to as Contribution Statements in some countries) is a tax document with a unique number given on receiving a payment/donation. Depending on the preferences of the person paying this receipt can be either

• a One-off receipt or,
• a Combined receipt.

A One-off tax receipt is a receipt with one transaction on versus a Combined receipt which combines all the transactions in a given time period on one receipt. In infoodle it doesn't matter when you choose to do the receipting, ie you could do them daily, weekly, annually, etc but what determines whether there is one transaction per receipt or multiple transactions on one receipt is the When to receipt field in a contact person's profile. (see screenshot below).

So when one person makes a donation/payment the transaction(s) are waiting in the Receipt screen to be receipted. Depending on whether the person has their default as One-off or Combined determines whether there will be one or multiple transactions on the receipt. Once a receipt has been generated a unique number is allocated to the receipt and shouldn't be generated again, however if you have already generated a receipt for someone and they lose it so need another copy you can resend or reprint it for them by clicking on Printed Receipts

The reason a receipt generates a unique number is for tax purposes. If you want to generate multiple documents for one transaction ie send a summary statement twice a year for the same and additional transactions, then it is better to use a Statement versus a Receipt.

A Statement allows you to print off a summary of transactions/activity for a chosen period but does not generate a unique number as a receipt does and does not mark the transaction as receipted. So what we usually recommend is during the year generate statements for people and then at the end of the year generate a receipt which will then have a unique number on it and can be sent to the Tax department.