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Receipt Accounting period close process in Oracle fusion

in Costing 9 comments

We have Receiving , Payables , Project Costing and Fixed Asset Subledger Module in Oracle Fusion. Our Payables period gets closed on Last Working day of the month at 3 PM . As Receiving module does not have period closure functionality in Oracle fusion we use the concept of Receipt Accounting Cutoff Dates functionality as set the cut-off date as 0.

Please note all the PO is set as Accrue at Receipt . And we don`t have inventory module.

Our expectation is that that as soon as Payables period is closed the receiving period should be closed at 3 PM so that no, but receiving accounting is happening for the entire day. Please advise how Oracle support this functionality of Cut Over date and how to fix this issue.

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