Landed Cost: Receipt Accounting and Cost Accounting Entries booked in different period

Summary:

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In the Context of Landed Costing where actual invoice comes after months and by that time GL period and Cost Period are closed.

Receipt Accounting does not have a formal period-close process. As a result, transactions are recorded in Receipt Accounting based solely on the original transaction date, and the corresponding period has been closed in the General Ledger. Then adjustment is posted on next 1st Open Period of GL

In contrast, the Cost Accounting module is integrated with the General Ledger and operates using controlled accounting periods that are opened and closed as part of the month-end close process.