Last updated on SEPTEMBER 14, 2017
Applies to:Oracle Fusion Cost Management Cloud Service - Version 22.214.171.124.0 and later
Oracle Fusion Receipt Accounting - Version 126.96.36.199.0 and later
Information in this document applies to any platform.
How to close a project period without taking the risk that new project related PO receipts are entered for this period?
The following modules are being implemented : Procurement * / Payables / Project costing ** / Fixed Assets / Receivables / General Ledger
In Procurement user have enabled the perpetual accrual option, this implies that once a PO receipt is entered, it generates accrual accounting entries toward both GL and Project costing.
Contrary to what happened in EBS R12, Procurement module in Fusion doesn’t have its own calendar. GL date of each receiving transaction is driven by the GL calendar period status. Expectation is that unless close a given period in GL, user can still enter PO receipts with a transaction date that falls into this GL period. Saying it differently, PO and GL periods are now synchronized in Fusion. However it’s quite common to close GL after all other modules. Obviously, the Fusion design no longer matches this requirement.
In project costing if user decide to close a period but a requester enter a new PO receipts for this period (actually nothing can prevent him/her from receiving existing approved POs because the corresponding GL period is still in status open), then project costing will reject the import of all new PO receipt transactions. Nonetheless, those PO receipts will be imported in GL successfully.
Procurement doesn't check the Project period status at the time a PO receipt is entered.
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