C

Cash basis accounting
In Oracle Receivables, an accounting method that lets you recognize revenue at the time payment is received for an invoice.In Oracle Payables, an accounting method in which you only recognize an expense when you incur the expense. With the Cash Basis Accounting, Payables only creates accounting entries for invoice payments

Cash Clearing Account
The cash clearing account you associate with a payment document. You use this account if you account for payments at clearing time. Oracle Payables credits this account instead of your Asset (Cash) account and debits your Liability account when you create accounting entries for uncleared payments. Oracle Payables debits this account and credits your Asset (Cash) account once you clear your payments in Oracle Cash Management.

Chargebacks
A new debit item that you assign to your customer when closing an existing, outstanding debit item.

Chart of accounts
The account structure your organization uses to record transactions and maintain account balances.

Claim
A discrepancy between the billed amount and the paid amount. Claims are often referred to as deductions, but a claim can be positive or negative.

Clearing account
An account used to ensure that both sides of an accounting transaction are recorded. For example, Oracle General Ledger uses clearing accounts to balance intercompany transactions. When you purchase an asset, your payables group creates a journal entry to the asset clearing account. When your fixed assets group records the asset, they create an offset journal entry to the asset clearing account to balance the entry from the payables group.

Combined basis accounting
A method of accounting that combines both Accrual Basis Accounting and Cash Basis Accounting. With Combined Basis of Accounting, you use two separate sets of books, one for the accrual basis accounting method and the other for the cash basis accounting method. Payables creates journal entries for invoices and payments to post to your accrual set of books and creates journal entries for payments to post to your cash set of books.

Commitment
In Oracle Receivables and Oracle Payables, a contractual guarantee with a customer for future purchases, usually involving deposits or prepayments. You can create invoices against the commitment to absorb the deposit or prepayment. Receivables automatically records all necessary accounting entries for your commitments.
In Oracle General Ledger, an encumbrance type typically associated with purchase requisitions to track expenditures. You can view funds available and report on commitments. Oracle Order Management allows you to enter order lines against commitments.

Construction-in-process (CIP) asset
A depreciable fixed asset you plan to build during a capital project. The costs associated with building CIP assets are referred to as CIP costs. You construct CIP assets over a period of time rather than buying a finished asset. Oracle Assets lets you create, maintain, and add to your CIP assets as you spend money for material and labor to construct them. When you finish the assets and place them in service (capitalize them), Oracle Assets begins depreciating them.

Control account
An accounting segment status for an account combination. This type of account is used in subledgers such as Payables or Receivables. Control accounts are used to maintain special balances for third parties per period. You should not change control accounts from a General Ledger responsibility; define and use security to protect your control accounts.

Control amount
A feature you use to specify the total amount available for payment of a recurring payment. When you generate invoices for a recurring payment, Oracle Payables uses the control amount and the total number of payments to determine the invoice amount.

Cedit invoice
An invoice you receive from a supplier representing a credit amount that the supplier owes to you. A credit invoice can represent a quantity credit or a price reduction.

Credit items
Any item you can apply to an open debit item to reduce the balance due for a customer. Oracle Receivables includes credit memos, on-account credits, and unapplied and on-account cash as credit items. Credit items remain open until you apply the full amount to debit items.

Cross-validation rules
Rules that restrict the user from entering invalid key flexfield segment value combinations during data entry. For example, you may set up a cross-validation rule that disallows using department segments with balance sheet accounts.