Time Zone Based Dates
Entry and display of dates by the legal entity or user preferred time zone is essential to ensure transaction and reporting accuracy. Based on how you set up time zone settings, date fields across Financials will either default to the legal entity or user preferred time zone.
Legal entity time zone is used when transaction dates have legal entity context such as the invoice date in Payables and transaction date in Receivables. User preferred time zone is used when transaction dates are to be entered in the user’s local time zone such as accounting date and conversion date in General Ledger.
These are the date fields that will default to the legal entity time zone when it’s enabled.
Product |
Legal Entity Time Zone |
---|---|
Receivables |
|
Cash Management |
|
Lease Accounting |
|
Advanced Collections |
|
Subledger Accounting |
|
These date fields will default to the user preferred time zone when it’s enabled.
Product |
User Preferred Time Zone |
---|---|
Expenses |
|
Revenue Management |
|
When neither the legal entity nor the user preferred time zone is enabled, dates will default to the server time zone.
Business benefits include:
- Ensure legal compliance and maintain precise records by using dates in the correct time zone.
- Improve operational efficiency for multinational companies operating in multiple time zones.
Steps to Enable
You don't need to do anything to enable this feature.
Tips And Considerations
These dates will be displayed exactly as entered by the user without any time zone conversion:
- Invoice Date and Project Expenditure Item Date in the Invoice Account Coding Approval notification
- Purchase Order Need by Date in the Invoice Holds Approval notification
- Cash Advance Settlement Date in the Cash Advance Overdue notification
Key Resources
- Oracle Support Note: Time Zone in Fusion Financials (Doc ID 3043933.1)