Oracle Projects maintains a project accounting date (PA date) and a general ledger accounting date (GL date) for all transactions. The system derives the accounting dates using the PA and GL accounting periods that you define.
You can account for transactions in Oracle Projects more frequently than you account for transactions in Oracle General Ledger, or you can account for transactions in Oracle Projects and Oracle General Ledger with the same frequency. If you account for transactions more frequently in Oracle Projects, then multiple PA periods correspond to one GL period. If you account for transactions in Oracle Projects and Oracle General Ledger with the same frequency, then your PA periods and GL periods have a one-to-one relationship.
The PA and GL accounting dates for transactions are generated during the cost distribution processes or when transactions are created. You can report project transactions by GL period after you run these processes. You do not have to wait until transactions are interfaced to GL to report transactions by GL period. For details about when accounting dates are derived, see When Accounting Dates Are Derived.
You can choose from the following methods for maintaining accounting periods and deriving accounting dates for project transactions:
Period-end date accounting
Expenditure item date accounting
Expenditure item date accounting with common accounting periods
Oracle Projects generates accounting events and creates draft or final accounting for the accounting events in Oracle Subledger Accounting. Oracle Subledger Accounting transfers the final accounting to Oracle General Ledger. You can perform reporting on your subledger accounting entries in Oracle Subledger Accounting. For additional information, see the Oracle Subledger Accounting Implementation Guide.
You can run the process PRC: Sweep Transaction Accounting Events to change the date on unaccounted transaction accounting events to the first day of the next open GL period without accounting for them. After the process sweeps the transaction accounting events, it also updates the GL date on the cost and revenue distribution lines associated with the events to the first day of the next open GL period. For additional information, see: Sweep Transaction Accounting Events.
Oracle General Ledger does not prevent you from closing a GL period even if outstanding accounting exists or if you created the final accounting for a transaction in Oracle Subledger Accounting, but did not post it in Oracle General Ledger. You can set up the system to send a workflow notification to anyone who needs to know when you close a GL period in Oracle General Ledger. When you receive the notification, you can run the Subledger Period Close Exceptions Report. This report displays information about unprocessed accounting events, accounting events in error, and transactions that are successfully accounted in final mode in Oracle Subledger Accounting, but are not posted in Oracle General Ledger. This report provides you with the ability to separately tie back and determine whether accounting entries are posted in Oracle General Ledger.
If accounting events exist that are in unprocessed, draft, or error status, then you can run the process PRC: Sweep Transaction Accounting Events to move the events to the next open GL period without accounting for them. If transactions exist with final accounting that are not posted in Oracle General Ledger, then you can reopen the GL period and post the journal entries.