Can Oracle fusion enable automatic charging off expenses?

Summary

Can Oracle fusion enable automatic charging off expenses?

Content

Hi All,

Can you please suggest on the below:

 Problem statement :Currently Prepaid invoices are booked to a Balance sheet account code. We pass periodic journal to expense off the prepaid expenses on a  monthly basis. (Insurance - prepaid expenses)

Dr Expenses/ Cr Prepaid A/c

 

Solution Required :Automated way of accounting the prepaid expenses  in Payables?

Version

19D