I have properly set up automatic valuation according to Odoo guided steps.

My accounting setting is checked to Anglo-Saxon.

I created a test PO and received the product without performing billing. Still, after receiving I looked at the valuation and there were no entries and the error message said no inventory valuation layer was created. 

I then checked under the journals list view and did not see any new journal entries were created. I then created the bill, and after billing the order amount was deducted from my interim (Receiving) account, then added the amount to Payables.

What did I do wrong?