Meaning & use
Virement
Last updated
The authorized transfer of funds from one budget heading or account to another, especially within government or organizational finance.
See it in a sentence
The department requested a virement to cover an unexpected shortfall in the training budget.
Under the new rules, any virement above a set threshold requires board approval.
A note on using this word
Borrowed from French accounting terminology and used mainly in British public-sector and corporate finance.
Words with a similar meaning
reallocationtransfer
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