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If you implement Multiple Reporting Currencies, open and close Payables periods in your primary set of books. Payables automatically opens and closes Payables periods in all of the associated reporting sets of books. You cannot close a Payables period if outstanding transactions exist in your primary or associated reporting set of books. See: Multiple Reporting Currencies in Oracle Applications manual.

Prerequisite:

   Define Sets of Books in the Set of Books window. See: Defining Sets of Books.

   To set up your accounting method:

• In the Accounting region of the Payables Options window, select Cash or Accrual as your Primary Accounting Method.

If you want to use combined basis accounting, select Accrual as your primary accounting method, and cash as your Secondary Accounting Method. If you do not want to use a secondary accounting method, select None as the Secondary Accounting Method.

See Also

Posting When You Use Cash Basis Accounting

Budgetary Control In Oracle Payables

Foreign Currency Transactions

Intercompany Accounting

Automatic Offsets