1. Control Purchasing Periods
(Purchasing-->Setup -->Financials --> Accounting-->Control Purchasing Periods
This controls the Purchasing Periods.
Purchasing periods controls ledger entries to the Receiving Sub Ledger.
The purchasing period must be open to process Purchase Orders and Receipts(if you need to deliver
PO to Inventory, the transaction date must fall within the Inventory Accounting Periods as well). If Budgetary Control/Encumbrance Accounting is enabled, Purchasing verifies that the GL Dates you provide on Purchase
Order distributions and requisition distributions are within an open Purchasing period. If Centralized
Procurement is being implemented , it must be ensured that the Purchasing periods remain Open in all
business units that you are likely to process Purchase Orders and Receipts.
2. Open/Close Period
(Purchasing-->Setup-->Financials --> Accounting-->Open/Close Period).
This controls the GL periods. GL periods control postings and journal entries in GL.
Collected information from Oracle Metalink and Posted by,
S.Grace Paul Regan
3 comments:
If Control Purchasing Period status is Permanently closed is it possible to reverse?
This happened in future period.
Thank you!
The Information is quite helpful for Real Time Scenarios.Although the site may be more beneficial experts.
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