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Dates for Financial Accounting

For financial accounting control, you report on general ledger periods (also referred to as GL periods).

You can also report by project accounting periods (also referred to as PA periods) to track project accounting data on a periodic basis, which may be more frequent than your general ledger accounting periods. Your project managers can review timely information by project accounting period; this information reconciles to your financial reporting by general ledger accounting periods.

Oracle Projects maintains the date a transaction was accounted for based on your general ledger periods and your project accounting periods.

These dates are defined as follows:

PA Date

The PA Date is the end date of the project accounting period in which costs, revenue, and invoices are accounted for.

When you initially set up PA periods, it is recommended that PA periods not overlap GL periods. This is explained in detail in Defining PA Periods.

GL Date

The GL Date is the end date of the GL Period in which costs, revenue, and invoices are accounted for.

Invoice Date

The invoice date applies only to customer invoices, and is the date which appears on the customer invoice. This date is used to calculate the invoice due date according to the customer payment terms.

See Also

Defining PA Periods

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