E

Earned discounts
Discounts your customers are allowed to take if they remit payment for their invoices on or before the discount date. The discount date is determined by the payment terms assigned to an invoice. Oracle Receivables takes into account any discount grace days you assign to this customer’s credit profile. For example, if the discount due date is the 15th of each month, but discount grace days is 5, your customer must pay on or before the 20th to receive the earned discount. Discounts are determined by the terms you assign to an invoice during invoice entry.

Electronic Funds Transfer (EFT)
A method of payment in which your bank transfers funds electronically from your bank account into another bank account. In Payables your bank transfers funds from your bank account into the bank account of a supplier you pay with the Electronic payment method.

Encumbrance accounting
An Oracle Financials feature you use to create encumbrances automatically for requisitions, purchase orders, and invoices. The budgetary control feature uses encumbrance accounting to reserve funds for budgets. If you enable encumbrance accounting only, you can create encumbrances automatically or manually; however, you
cannot check funds online and Oracle Financials does not verify available funds for your transaction.
Examples of encumbrance types are commitments (requisition encumbrances) and obligations (purchase order encumbrances).