What Is a Contract Line Item Number?
Last Updated Apr 11, 2020 4:57:30 PM ET
A contract line item number is used to specify the commodities being acquired for traceable accounting classification on a federal government contract. A CLIN is usually located in section B of the contract, and it is vital for reporting and billing purposes within the contractor's accounting system.
The CLIN is used throughout the government's accounting systems to service invoices, and it is the most crucial part of any government contract. Government agencies use the CLIN structure to report on the funding for contracts that utilize money from different accounts. Oversight authorities, such as Congress, use the CLINs to determine whether contract purchases reflect what they authorized.
More From Reference
Here’s How the COVID-19 Pandemic Changed In-Person Retail Shopping in Lasting Ways
A Brief History of Insults: How Different Cultures Use Spoken and Written Verse to Mock and Mediate
Monkeydactyl and the Little Foot Fossil: Major Evolutionary Breakthroughs of 2021 (So Far)
Fact Check: How Accurate Are Farmers Almanac Weather Forecasts in Comparison to Weather Apps?
What Annual Income Is Considered Poverty Level & How Was the Federal Poverty Level Established?
Tokyo 2020: Here's How the First Modern Olympics Started 125 Years Ago