I would like to know if there is a functionality in Oracle to perform auto accounting for Deferred Expenses. I'm giving below an example of my exact requirement for my professional colleagues to reply.
The school fee for an employee's kid is paid on 1 Jan 2012 for the school year 1 June 2012 to 31 May 2013. I would like to account for the payment now as on 1 Jan 2012 showing this as Deferred Expenses and the monthly auto accounting/booking needs to start from 1 June 2012 to finish on 31 May 2013.
Is there any functionality available which will help me do this without any monthly manual intervention.