oracle projects(cons)

Overview

Oracle Projects

http://oracleapps88.blogspot.com/

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Agenda

Overview of Oracle Projects

Modules

Setup

Project Types

WBS

Project Templates

Project Creation


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Oracle Projects

Business application for Project Oriented Companies in different industries:

Engineering & Construction

PSA

Consulting

Aerospace & Defense

Retail

Provides you a flexible approach to defining and structuring projects,

tasks and budgets


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Oracle Projects

Oracle

Projects

Track various

costs related to

project, track

profitability

Create Budgets

and maintain

financial control

Track Project

Schedule, monitor

progress, issues

and manage

changes

Report status Financial (Actual vs

budgets, schedule),

schedule and others

Create resource

requirements for

the project and staff

them

Structure the project by

breaking it down to

tasks to effectively track

the work to be

accomplished

Generate invoices

to clients

Accrue revenue

on project based

businesses

Collaborate project data across the project team seamlessly


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Oracle Projects

WIP

Inventory

Personnel

$

$

Accounts Payable

$

VISIO CORPORATION

GL

$

$

Accounts Receivable

Organization

& Employees

Project

Management

- Schedule

- Progress

- Issues

- Changes

Expenditures

Supp

lier I

nvoi

ces

Mfg Costs

Material costs

Lab

or exp

enses

Projects

Budgets

Costing

Project

Resource

Management

Revenue

Accrual

Project Collaboration

Invoicing

Expense

Reports


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Oracle Projects - Modules

Project Costing (PJC)

Project Billing (PJB)

Project Resource Management (PJR)

Project Management (PJT)

Project Collaboration (PJL)


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Project Costing: Allows you to enter and maintain project costs

Create tasks, control chargeability

Record cost transactions Timecards, expense reports, asset usage, supplier invoices

Track committed costs Requisitions, PO,

Interfaces with AP, PO, GL, PJM

Target Users: Project Managers, Financial Managers


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Project Billing: Allows you to generate revenue and create invoices

Enter project customers, agreements and Fund the project

Generate Revenue T&M, Cost Plus, % Complete

Create Invoices based on transactions, milestones

Interfaces with GL, AR

Target Users: Project Managers, Financial Managers


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Project Resource Management: Allows you to manage your project resource needs and organization resource utilization

Defining resource requirements

Searching for resources meeting requirements

Tracking candidates

Automatically processing approvals

Managing team schedules

Track resource utilization

Target Users: Project Managers, Resource Managers, Staffing Managers


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Project Management: Enables you to track and manage a project from creation and planning through to completion

Create, maintain, version and view workplans

Track progress against the workplan

Create Budgets and Forecasts to plan and manage financial performance

Publish status reports to project stakeholders

Manage issues and changes in the project

Attach and manage documents for projects and tasks

Target Users: Project Managers


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Project Collaboration: Enables the project team members to collaborate and communicate with ease

Team Member Home page Entry page for team members to access different projects related documents

Resolve issues and changes related to projects Sharing information and assigning actions to different people

Decentralized project progress entry

Receive project notifications, and status reports

Target Users: Project Team Members


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Oracle Projects Setup

Set of BookVision

Operations

Vision

Operations

HR Org 1 Inventory Org 2 Inventory Org 3

Project

Transactions

controlled here

Legal Entity

Operating Unit

Organizations

Define SOB GL

Define Organizations HR


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Organization Classifications

Project Expenditure/Event Owning organization

Project Task owning organization

Organization Hierarchy

Project/Task owning org hierarchy

Exp/Event org hierarchy

Burden Schedule hierarchy


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Set MO: Operating Unit profile option

Setup Projects Implementation Option for each OU


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PA Periods: Define PA Periods (copy from GL, derived from implementation options)

Schedule Calendars Calendar Shifts, Calendar Exceptions, Assign shifts

Resource Definition

Job groups, Job Levels, Job categories, Jobs, Grades, Rating Scales, Competencies, PJR Job Group profile option

Define Employees

Roles, Role Lists


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Classifications Class Categories and Class codes

Resource Lists

Service Types

Work Types

Cycles

Statuses


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Projects Foundation

Project Types The project type determines how Oracle Projects processes costs (expenditure items) for a project and provides defaults and controls for project entry and processing. Each project type must have a project type class.

Indirect To collect and track expenditure item costs and labor hours for overhead activities, such as administrative and overhead work, marketing, and bid & proposal preparation. You can also define indirect projects to track time off including sick leave, vacation, and holidays

Contract To collect and track costs, labor hours, revenue, and billing for services performed for and reimbursed by a client

Capital To collect and track costs and labor hours for asset development activities that you plan to capitalize as one or more assets

Examples of project types:

Cost Plus

Time and Materials

Construction

General and Administration


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Projects Foundation

Work Breakdown Structure Hierarchical breakup of the project activities into manageable units

Financial WBS To aggregate costs and manage billing at the task level

Workplan Detailed WBS to track task schedules

Tasks Top Tasks, Summary Tasks and Lowest Tasks (activities)

Benefits in Oracle Projects Budgets at task level, costing can be controlled, controlled billing, summarization of costs, schedule tracking


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Project Foundation

Project Template: Defines the basic characteristics of the project, and consists of:

Basic project information

Work breakdown structure (WBS)

Agreement and funding (optional)

Project and task options, including key members, classifications, Transaction controls, and any other project and task options

Budgets (optional)

Quick Entry fields which specify fields to enter for the new project when creating it from a template

Project Option controls which list the project options to display for new projects created from a template


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Projects Foundation

Project Template screen shot


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Project Foundation

Quick Entry Screen


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Project Foundation

Project Creation: Create Project by copying

Project Template

Another Project

Provide details in the quick entry

Modify details as required after project creation


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Projects Foundation

Project Creation screen shot


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Projects Foundation

Project and Task Options

Project Classifications - Choose the class category for the project, then select one or more class codes for the class category. For example, you can specify a class category of Funding Source, and assign a class code of Federal to indicate project funding by a federal agency.

Customers and Contacts- Specify the revenue and billing contribution of a paying customer for project work, define the relationship of a customer to this project, and enter other information about this projects customer. The customer you choose must be an active customer in the Oracle Receivables database.

Cross Charge - Specify whether the project or lowest task allows charges from other operating units.

Key Members - Key members are employees who are assigned a role on the project. You assign employees as key members who need access to the project.

Organization overrides - You can reassign an employees, or an entire organizations, costs and revenue to a different organization for a particular project.

Resource List Assignments - You assign resource lists to a project to indicate which resource lists you want to use for summarizing project actual amounts for project status tracking.

Transaction Controls - Configure your projects and tasks to allow only charges that you expect or plan. You can also define what items are billable and nonbillable on your projects.

Costing Burden Schedule - You must specify a cost burden schedule if you specify that a project type is burdened. The costing burden schedule defaults from the project type.


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Thank you


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Part 1

Oracle Project Costing


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Agenda

Oracle Project Costing overview

Setup

Expenditures

Costing

Burdening

Auto Accounting


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Project Costing: Oracle Project Costing provides you with the ability to define projects, work breakdown structures, and budgets; record and report costs against projects

Enter projects and tasks. You can define chargeability control to limit charges to your projects and tasks

Enter cost budgets and baseline them

Track committed costs of requisitions, purchase orders, and supplier invoices

Record detailed cost transactions for timecards, expense reports, asset usage, and supplier invoices

Interface costs between other Oracle Applications while maintaining a detail audit trail

Report project status online and in reports


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Business Process

Create

Project

Define Tasks,

project and

Task options

Project

Manager

Define Key

Members

Enter Project

Budgets

Project

Resources

Enter

Time

Cards

Enter project

Expenses

Accounts

Staff

Enter

Usage and

Misc Costs

Project

Expenditures

Accounts

payables

Clerk

Enter Supplier

Invoices for

projects

Import

Supplier

Costs

Purchasing

Clerk

Create

Purchase

Orders

Receive

materials

against PO

Costing

(Calculation of Raw,

Burdened costs,

Account generation)

Import

Inventory and

manufacturing

costs

Inventory

Supervisor

Issue Materials to

Projects

Shop Floor

Supervisor

Record project

specific

Manufacturing costs

Project

Budgets

Generate Project

Summary Amounts

Summarized

Project

Amounts


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Setup

Expenditure Categories

Revenue Categories

Units (UOM)

Expenditure Types

Auto Accounting Lookup sets

Accounting Rules

Assign Auto Accounting Rules

Non-Labor Resources


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Setup

Labor Costing Multipliers

Labor Costing Rules

Rate Schedules (shared between costing and billing)

Organization Labor Costing Rules

Cost Bases and Cost Base Types

Burden Cost Codes

Burden Structures

Burden Schedule


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Setup

Expenditure/Costing setup at implementation options


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Setup

Setup costing options for a project type


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Setup

Optionally, setup project/task override options

Costing Burden Schedule

Burden Schedule Overrides

Transaction Controls


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Expenditures

Expenditure Group of transactions incurred by an employee or an organization for an expenditure period

Actual Cost To record actual work performed or cost incurred. Eg: Timecards, Expense Reports

Commitments Future committed costs you expect to incur. Eg: PO, Requisition

Expenditure Type Classes: An expenditure type class tells Oracle Projects how to process an expenditure item. Oracle Projects predefines all expenditure type classes.

Oracle Projects uses the following expenditure type classes to process labor costs for interfacing to Oracle General Ledger:

Straight Time Payroll straight time

Overtime Overtime premium on a project

Oracle Projects uses the following expenditure type classes to process nonlabor project costs:

Expense Reports Oracle Projects expense reports are interfaced to Oracle Payables for employee reimbursement

Usages Asset usage costs are interfaced to Oracle General Ledger.

Supplier Invoices Oracle Payables supplier invoices are interfaced from Oracle Payables to Oracle Projects.


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Expenditure Type Classes

Miscellaneous Transaction Miscellaneous Transactions are used to track miscellaneous project costs. Miscellaneous transactions may be used for the following costs:

Fixed assets depreciation

Allocations

Interest charges

Burden Transaction Burden transactions track burden costs that are calculated in an external system or calculated as separate, summarized transactions.

Work In Process This expenditure type class is used for Project Manufacturing WIP transactions that are interfaced from Manufacturing to Oracle Projects.

Inventory This expenditure type class is used for the following transactions:

Project Manufacturing transactions that are interfaced from Manufacturing or Inventory to Oracle Projects.

Oracle Inventory Issues and Receipts that are interfaced from Oracle Inventory to Oracle Projects in a manufacturing or nonmanufacturing installation.


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Expenditure Entry

Error

Verify:

Project Status

Task Chargeable ?

Start/Finish Dates

Verify Project/

Task Transaction

Controls

Pre-Approved

Expenditure

Batches Entry

Error

Save

Expenditure

Lines

Submit for

ReviewRelease

Distribute

CostsPassFail

Fail

Pass


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Expenditure Entry

Expenditure batch entry


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Expenditure Entry

Expenditure Items for a Timecard


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Expenditure Inquiry http://oracleapps88.blogspot.com/

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Costing

Costing: Costing is the processing of expenditures to calculate their cost to each project and determine the GL accounts to which the costs will be posted. The Costing process includes the following steps:

1. Calculate raw cost (Quantity Rate).

2. Calculate burdened cost

3. Perform accounting

Determine account numbers to post to in Oracle General Ledger

Create cost distribution lines


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Costing

Labor Costs: Labor costs are calculated using the quantity and rate

Raw Cost = Hours Worked*Cost Rate

Cost Rate is derived from Organization Labor Costing Rules or employee rate overrides

Expenses and Usages: Oracle Projects calculates the cost for expense reports, usages, and miscellaneous transactions as follows:

Raw Cost = Quantity (if in Currency, for example,currency amount)

Raw Cost = Quantity Cost Rate (if quantity is not in Currency)

Cost rates by expenditure type, or

Cost rates by nonlabor resource and owning organization for usages (optional); overrides expenditure type cost rate

Burden Cost = Raw Cost * Burden Multiplier

Burdened Cost = Raw Cost + Burden Cost


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Costing

Costing Processes

PRC: Distribute Labor Costs

PRC: Distribute Expense Report costs

PRC: Distribute usages and miscellaneous costs

PRC: Interface Supplier Invoice Costs

PRC: Interface Expense Reports from Payables

PRC: Interface Expense Reports to Payables


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Burdening

Burdening A method of calculating

the burden costs by applying one

or more burden cost components

to the raw cost amount of each

individual transaction.


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Burdening

Burden Structure: A burden structure determines how cost bases are grouped and establishes the method of applying burden costs to raw costs.

Burden Cost Code: Type of burden cost that you want to attach for the raw cost

Cost Base: Grouping of Raw Costs


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Burdening

Burden Structure - Example


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Burdening

Burden Schedule: Establish the multipliers used to calculate the burdened cost.

Burden costs can be on the same or separate expenditure line

When separate, accounting will be based on exp type class for burden transactions


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AutoAccounting

Use AutoAccounting to specify how to determine the correct general ledger account for each transaction.

Examples of accounting practices you can implement using AutoAccounting include:

Charge central headquarters with all advertising costs regardless of which region those advertisements benefit.

Credit payroll costs to the payroll liability account belonging to the division for which an employee works.

Assign revenue from subcontractors to the company and cost center managing the project.

When you implement AutoAccounting, you define the rules and circumstances that determine which general ledger accounts Oracle Projects uses.

Oracle Projects then uses the rules when performing accounting transactions.


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AutoAccounting

AutoAccounting Rule: Each AutoAccounting rule you define supplies one Accounting Flexfield segment value. Thus, you need to specify one AutoAccounting rule for each segment in your Accounting Flexfield for each transaction

To define an AutoAccounting rule, you first specify an intermediate value (an input for the rule). You can draw an intermediate value from one of three intermediate value sources:

Constant

Parameter

SQL Select Statement


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AutoAccounting

Assign AutoAccounting Rules Window : Use this window to assign an AutoAccounting rule to each segment of your Accounting Flexfield for the AutoAccounting transactions you want to use.

Example: Accounting for Labor Costs

Labor Cost Account Function: When you run the PRC: Distribute Labor Costs process, Oracle Projects calculates labor cost amounts based upon employee labor cost rates. After calculating labor costs, Oracle Projects uses the Labor Cost Account transactions to debit an expense account for raw labor costs.

Enable the Private Billable Labor Transaction and Assign Rules:

Function Name: Labor Cost Account, Transaction Name: Private, Billable Labor

Number Segment Name Rule Name

0 Company Employee Company

1 Cost Center Employee Cost Center

2 Account Private, Billable Labor


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AutoAccounting

Labor Cost Clearing Account Function: When you run the PRC: Interface Labor Costs to General Ledger process, Oracle Projects credits a payroll clearing liability account to balance the labor expense account it debits when you run the PRC:Distribute Labor Costs process. The process then transfers both the liability credits and the expense debits to the Oracle General Ledger interface tables so you can post them to the general ledger.

Enable the Labor Cost Clearing Account Transaction and Assign Rules:

Function Name: Labor Cost Clearing Account, Transaction Name: Clearing Account



1 Cost Center Division Cost Center

2 Account Payroll Clearing


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Thank you


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Part 2



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Agenda

Allocations

AP-PO-PA Integration

Project Status Inquiry


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Allocations

Allocations: Using Allocations, you can distribute amounts between and within projects and tasks, or to projects in other organizational units.

For example, a manager could distribute across several projects (and tasks) amounts such as salaries, administrative overhead, and equipment charges.

Oracle Projects performs allocations among projects and tasks.

MassAllocations in Oracle General Ledger performs allocations among GL accounts.

You can use AutoAllocations in either General Ledger or Oracle Projects to run MassAllocations.


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Allocations

Allocation Rule: Allocation rules define how allocation transactions are to be generated, including:

Source - The amounts you are allocating

Targets - The projects and tasks to which you want to allocate amounts

How much of the source pool you want to allocate, and if you want to include a fixed amount, GL balance, or client extension (or any combination of these)

The time period during which the rule is valid

You can leave the original expenditure amounts in the source project, or offset the amounts with reversing transactions.


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Allocation Rule

Source: Determines the source pool amount that needs to be allocated.

Fixed Source Amount A fixed amount that you want to include in the source pool

Project Source: One or more projects and/or tasks as source. The costs collected in the project/task add to the source pool.

All source projects and tasks must be open and from the same operating unit

The tasks must be a top or lowest level task

Optionally, limit the resources that are a part of source projects

GL Source: Select a GL Account as a source (if allocation period type is GL)

Allocation Pool % - Indicates how much of source pool to allocate

The rule accumulates the amounts for the source pool during a specific period of time. The start and end date of the time period is determined by:

Allocation period type (either GL or PA, as set in the Allocation Rule window)

Amount Class PTD, ITD, QTD, YTD


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Allocation Rule

Target: Targets are the projects and tasks to which the allocation distributes amounts.

If you selected one of the target percentage basis methods in the Allocation Rule window (Target % and Spread Evenly or Target % and Prorate), enter a value in the % field for each Target line

The value is the percentage of the source pool to allocate to the line. The total percentage for included targets must equal 100.

Offset: Offsets are reversing transactions used to balance the allocation transactions with the source or other project.

All projects and tasks to which you apply offsets must be open and chargeable.


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Allocation Rule

Basis Method: When you define an allocation rule, you select a basis method. The basis method defines how the amounts in the source pool are to be divided among the target lines.

Spread Evenly: The rule divides the source pool amount equally among all the chargeable target tasks included in the rule.

Target % and Spread Evenly: You specify the percentage of the source pool that you want to allocate to each target line. The rule calculates the amount to allocate to the line, and then spreads the results evenly among the tasks.

Prorate: Proration basis method provides precise control over how the rule distributes the source pool. The rule uses the attributes set in the Basis window to derive the rate at which the source pool amount is apportioned among the target projects and tasks. For the Prorate basis method, the rule uses the basis attributes to apportion the source amount among all the tasks defined by the rule.

Target % and Prorate: For the Target % and Prorate method, the rule first uses the target percentage to calculate the amount to allocate to the line, and then goes on to apportion the results among all the tasks.

Use Client Extension Basis: Another way to define percentages and a basis is to use the Allocation Basis extension.


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Allocation Rule

Basis: If you select a proration basis method (Prorate or Target % and Prorate) in the Allocation Rule window, you must define exactly how you want to prorate the source pool amount to the target projects.

Proration basis methods derive the proportion of the source amount to be allocated to target projects and tasks.

The Basis button is available only if you selected the basis methods of Prorate or Target % and Prorate.

For example, based on the number of labor hours recorded by workers on a project, you can allocate a proportionate amount of the source to that project.

Basis Category: Actual, Budget, Financial Plan Type

Amount Type: Dependent on Basis Category (Eg: Total Raw Cost, Total Labor Hours)

Amount Class: PTD, YTD, QTD

Basis Resources (Optional)


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Allocation Example

Assume a source Pool of $1000. The Target projects are P1 (with tasks A, B, C) and P2

(with tasks Y and Z)

Basis Method Target Project Target Tasks Target Percent

Labor Hours Allocation

Spread Evenly

P1

P2

A

B

C

Y

Z

$ 200

$ 200

$ 200

$ 200

$ 200

Target % and Spread Evenly

P1

P2

A

B

C

Y

Z

90%

10%

$ 300

$ 300

$ 300

$ 50

$ 50


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Allocation Example

Assume a source Pool of $1000. The Target projects are P1 (with tasks A, B, C) and

P2 (with tasks Y and Z)

Basis Method Target Project Target Tasks Target Percent

Labor Hours Allocation

Prorate

(Proration basis is Labor Hours)

P1

P2

A

B

C

Y

Z

40

60

200

80

20

$ 100

$ 150

$ 500

$ 200

$ 50

Target % and Prorate

(Proration basis is Labor Hours)

P1

P2

A

B

C

Y

Z

90%

10%

100

200

300

0

50

$ 150

$ 300

$ 450

$ 0

$ 100


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Allocation Process

Specify Rule

Name, Period

Name as

parameters

Verify Source,

Target and Offset

project statuses

Define

Allocation

RulesError

Create Draft

allocation

runs

Release

allocation

runs

Create Allocated

transactions in

Target and

Offset projects

Pass

Fail

Submit: PRC:

Generate Allocate

Transactions

process

Full allocations distribute all the amounts in the specified projects in the specified amount

class. The full allocation method is generally suitable if you want to process an allocation rule

only once in a run period.

Incremental allocations create expenditure items based on the difference between the

transactions processed in the previous and current run. This method is generally suitable if

you want to use the allocation rule in allocation runs several times in a given run period.


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AutoAllocations

AutoAllocations: To generate allocations more efficiently, you can group allocations rules and then run them in a specified sequence (stepdown allocations) or at the same time (parallel allocations).

Stepdown allocations use the results of each step in subsequent steps of the autoallocation set. Oracle Workflow controls the flow of the auto allocations set.

Parallel allocations carry out the specified rules all at once and do not depend on previous allocation runs.

AutoAllocation Set:

Type: Recurring Journal, MassAllocations, MassBudgets, MassEncumbrances, Project Allocations

Batch/Rule: Enter the Allocation batch or Allocation rule.


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AutoAllocations

Workflow for StepDown AutoAllocations: The PA Step Down Allocations workflow (item type) automates the execution of stepdown autoallocation sets to:

Create allocation runs

Generate the allocation transactions

Release the allocation transactions (if the rule is set up to release automatically) or require approval from a specific person before the process proceeds

Distribute costs

Update the project summary amounts

You can customize some aspects of the Workflow processes.


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Expense Reports integration with AP

Enter Expense

Reports in

Projects

View

Expense

Reports in

Payables

Distribute

Expense Report

Costs

Import

Payables

Invoices

Run the process:

Interface

Expense Reports

To payables

Tie back expense

reports to Projects

To import an expense report entered in payables to projects run the process Interface Expense Reports From Payables


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AP-PO-PA Integration: Oracle Projects fully integrates with Oracle Purchasing and Oracle Payables

and allows you to enter projectrelated requisitions, purchase orders, and supplier invoices using

those products.

When you enter projectrelated transactions in Oracle Purchasing and Oracle Payables, you

enter project information on your source document.

Oracle Purchasing and Oracle Payables use the Account Generator to determine the account

number for each projectrelated distribution line based on the project information that you enter.


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Auto

Create

Matching

Interface Invoices fromPayables to Projects

Requisitions

Purchase Orders

Invoices

Expenditures

Oracle Projects

Ora

cle

Pa

ya

ble

s

InterfaceReceipts from

Purchsing to Projects

Receipt

EntryReceiving

Transactions

Oracle Purchasing


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To interface supplier related costs from purchase receipts and supplier invoices, run the Concurrent

Process: PRC: Interface Supplier Costs. Set one of the following parameters:

Interface Supplier Invoices: Default Yes

Interface Receipt Accruals: Default No

Interface AP Discounts: Default No


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Interface Receipt Accruals is Set to Yes:

Receipt accruals for project-related items with a destination type of Expense are transferred from Oracle Purchasing to Projects

Receipt accrual entries are not interfaced if the received items are invoiced and the invoice distributions are interfaced to Projects

Interface Supplier invoices is set to Yes:

Project-related supplier invoice cost is interfaced from Oracle Purchasing to Projects

When the item cost is not accrued on receipt, Invoice distributions are interfaced to Projects

When the item cost is accrued on receipt, variance amounts and additional charges are interfaced to Projects

Interface AP Invoices is set to Yes:

Invoice payment discounts prorated across project-related distributions are interfaced to Projects


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Project Status Inquiry: With Project Status Inquiry (PSI), you can review the current status of your projects and then drill down for more detailed review of a project and its tasks.

Project Summary Amounts: To facilitate fast and easy status reporting and inquiries, Oracle Projects maintains various levels of project summary amounts for cost, commitment, revenue, and budget amounts by project, task, and resource. Oracle Projects maintains todate amounts as follows:

PeriodtoDate Amounts (PTD)

Prior Period Amounts (PP)

YeartoDate Amounts (YTD)

Project or InceptiontoDate Amounts (ITD)


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Run the Update Project Summary Amounts process for your projects. The Project Status window uses the data that is summarized by this process.

You can update project summary amounts anytime after you distribute costs, independent of when you interface costs and revenue to Oracle General Ledger. This allows you to have uptodate information for project status reporting, independent of the accounting flow.

Current Reporting Period: The current reporting period defines the period through which the amounts are summarized for all projects in your system. A common reporting period facilitates crossproject reporting.


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Summarizing by Resource: Oracle Projects summarizes actuals and commitments by resource when you update project summary amounts. Each transaction maps to one resource in each resource list assigned to the project.

The precedence by resource type is as follows:

1. Employee and Supplier

2. Job

3. Organization

4. Expenditure Type and Event Type

5. Expenditure Category and Revenue Category

If a transaction cannot map to any resource defined in the resource list, the transaction is mapped to an Unclassified resource.

If you make changes to the resource list, run the process PRC: Update Project Summary Amounts after a Resource List Change to re-summarize data as per the latest resource list


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Thank you


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Part 1

Oracle Project Billing


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Agenda

Oracle Project Billing overview

Contract Projects

Agreements and Funding

Budgets

Events

Revenue Accrual


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Project Billing: Allows you to define revenue and invoicing rules for your projects, generate revenue, create invoices, and integrate with other Oracle Applications to process revenue and invoices.

Enter project customers and contacts with whom you have negotiated and contracted project work

Enter agreements (contracts) from your customers and fund projects with those agreements

Generate revenue using various methods including time and materials, percent complete, and cost plus

Create draft invoices from detail transactions and milestones for online approval by your project or accounting managers

Interface revenue to Oracle General Ledger and invoices to Oracle Receivables while maintaining a detail audit trail

Report project revenue, invoice, and receivables status online and in reports


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Business Process

Create

Project

Define Tasks, project

and Task options,

revenue and invoicing

rules

Project

Manager

Enter Project

Customer

Project

Resources

Awards

Contract

Customer

Project

Costs

Create

Agreement

Contract/Account

Manager

Fund

Projects

Enter

Timecards,

Expense

Reports

Project

Accountant

Enter Usage and

Miscellaneous

expenses, import

inventory and

manufacturing

costs

Enter Cost

and Revenue

Budgets

Project

Budgets

Project

Accountant

Accrue

Revenue

Interface

Revenue to

General Ledger

Generate

Invoices

Interface to

Accounts

Receivables

Print

Invoices


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Setup

Receivables System Options

Define and Assign Output Tax Codes

Payment Terms

Rate Schedules

Invoice Formats

Credit Types

Event Types

Customers

Transaction Types AR


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Setup

Billing setup at implementation options


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Setup

Setup Billing options for a project type


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Setup

Optionally, setup project/task billing options

Customers and Contacts

Currency

Billing Option Distribution Rule, Invoice Formats, Funding Rules

Billing Assignments Assign billing extensions

Credit Receivers Define the employees that receive credit for a project

Retention Define retention terms for your customer

Bill Rates and Discount overrides


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Contract Projects

Contract Projects To track activities, cost, revenue, and billing for services performed for and reimbursed by a customer

Time and Materials

Fixed Price

Cost Plus

Contract Project Flow:

Create a Contract Project & Tasks,

Enter an agreement

Fund the project

Enter and baseline a draft revenue budget

Distribute costs, generate revenue and invoices


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Contract Projects

Billing Methods Billing methods determine how Oracle Projects generates revenue and invoices

for projects.

Billing Method Description

Cost/Cost Accrues revenue and bills using the ratio of actual cost to budgeted cost (percent complete)

Cost/Event Accrues revenue using the ratio of actual cost to budgeted cost (percent complete) and bills based on events

Cost/Work Accrues revenue using the ratio of actual cost to budgeted cost (percent complete) and bills as work occurs

Event/Event Accrues revenue and bills based on events

Event/Work Accrues revenue based on events and bills as work occurs

Work/Event Accrues revenue as work occurs and bills based on events

Work/Work Accrues revenue and bills as work occurs


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Contract Projects

Bill Rate A bill rate is an amount or percentage that is applied to a unit (of time and materials) to

calculate revenue and invoicing. Bill rates are used for time and materials projects. You can specify

the following bill rates in Oracle Projects:

Employee Bill Rates: Standard hourly bill rates or percentage markups assigned to employees.

You can assign a different bill rate to each employee for customer invoicing.

Job Bill Rates: Standard hourly bill rates assigned by job title. For example, all System

Administrators can have one bill rate, while all Consultants can have a different bill rate.

NonLabor Bill Rates: Standard bill rates or standard markups assigned to nonlabor

expenditure type or nonlabor resources.


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Agreement Represents any form of contract, written or verbal, between you and one of your

customers. An agreement contains the following:

Impose Revenue Hard Limit or/and Invoice Hard Limit for projects funded by this agreement.

A hard limit prevents revenue accrual and invoice generation beyond the amount allocated to

a project or task by this agreement.

A soft limit issues a warning when revenue accrual and invoice generation exceed the amount

allocated to a project or task.


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Funding: Funding is the step that

allocates an amount associated with a

customer agreement to a specific

project.

The total amount of allocated

project funding must equal the

current approved project revenue

budget amount in order to

successfully baseline the project.

You can fund at Top Task Level or

Project Level


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Agreements and Funding - Scenarios

One Customer, One Agreement

Use one agreement when you have one customer and one contract.

All revenue is accrued and all invoices billed against the same agreement.

The same agreement may fund multiple projects

Multiple Customers, One Agreement Per Customer

Use one agreement per customer when you have multiple paying customers

All revenue and invoice amounts are divided between each customer according to the percentage

splits defined for the project in the Customers and Contract Project options.

Each run of generate revenue creates one draft revenue per customer, and each run of generate

invoice creates one draft invoice per customer. The draft revenue and invoices for all customers

contain the same items, but with prorated amounts.


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Agreements and Funding - Scenarios

One Customer, Multiple Agreements

Use multiple agreements when you have one customer, but several contracts, and a requirement to

invoice by contract. For example, a project that was originally funded by one purchase order is

subsequently funded by another purchase order

When revenue is generated, hard limit agreements are used first in order of expiration date, followed

by soft limit agreements in order of expiration date.

Multiple Customers, Multiple Agreements Per Customer

Use multiple agreements per customer when you have multiple paying customers, multiple contracts

with one or more of the customers, and a requirement to invoice by contract.

This method is a combination of the two above. Revenue is prorated between the customers

according to their percentage split. For each customer, revenue is placed on agreements by the same

rules as for multiple agreements and a single customer.


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Funding at Top Task

One Customer, One Agreement

Use this method only if you want to accrue revenue costtocost at the task level or impose hard or

soft revenue limits at the task level

Task level funding with one agreement does NOT create separate task invoices

One Customer, Multiple Agreements

Use multiple agreements when you have one customer, but a requirement to create a separate invoice

for each top task. You can use this method to accrue revenue costtocost or impose hard or soft

revenue limits by task, as well as automatically create separate invoices by task.

To create separate invoices by task, you must use a different agreement to fund each task. If you use

more than one agreement for a single task, the agreements are used according to the precedence

described earlier for projects.


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Events

Event: Signifies the occurrence of an event in the course of the project having a revenue

and/or invoice impact. Eg: A milestone, invoice reduction

Automatic

Manual


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Revenue Accrual

Revenue Oracle Projects generates

revenue based on the transactions

that you charge to your projects

When you generate revenue, Oracle

Projects calculates revenue, creates

event and expenditure item

revenue, determines GL account

codings, and maintains funding

balances

You can generate revenue for a

range of projects or for a single

project


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Revenue Accrual Process

Select eligible

expenditure

items, events

Create Draft

Revenue

Calculate Potential

Revenue, revenue

events,

Revenue

Exceeds Hard

Limit ?

Verify availability

of fundingNo

Error

Yes


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Revenue Accrual

Steps to complete before revenue accrual

Baseline Project Budget Baseline Revenue Budget

Distribute costs for all billable expenditures

Selection criteria:

Exp should be prior to Accrue through date, billable, cost distributed, should not be revenue distributed

Cost to Cost - Should have summarized costs

% Complete Enter a % Complete at funding level

Events On a ready-to-accrue task, event date before accrue through date


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Revenue Accrual

Revenue Calculation

Projects with Task Level funding calculate potential revenue at task level

Time and Materials

Potential revenue is the sum of revenue of all expenditure items and events

Revenue of expenditure items calculated using the bill rate schedules and the mark ups

Cost-to-Cost


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Revenue Accrual

Search for agreements against which to accrue potential revenue

If more than one customer, split the revenue as per % contribution

Revenue Distribution line(s) are created for each exp item line

Hard Limits If you specify a hard limit, the revenue accrual will be limited to the amount in the agreement

Events All or None

Exp Items Partial accrual allowed (during hard limits)


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Revenue Accrual

PRC: Generate Draft Revenue for a Range of Projects (as per the billing cycle)

Release and Interface revenue amounts

Revenue Review Form To review detailed information about project revenue

Regenerate Revenue for unreleased revenue lines (lines are deleted and regenerated)


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Part 2



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Agenda

Invoicing

Percent Complete

Revenue and Invoice Accounting


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Invoicing

Invoicing: You can manage and control your invoices, review and adjust them online, and review

the detailed information that backs up your invoice amounts.


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Invoicing

Invoicing Terms

Bill Through Date: The date through which Oracle Projects picks up events and expenditure items to be billed on an invoice.

Invoice Date: The date that is printed on the invoice and the date on which an invoice receivables aging begins. You specify the invoice date when you generate the invoice.

Billing Cycle Code: The code that indicates when to generate invoices automatically a project; determined from the project. The bill cycle code is used only during mass invoice generation.

First Bill Offset Days: The number of days that elapse between the project start date and the date of the projects first invoice; determined from the project. Bill offset days are used only during mass invoice generation.

Invoice Currency: The invoice currency selected for the project customer.

Invoice Transaction Type: If you choose decentralized invoice processing during implementation, this is the name of the organization that is the invoice processing organization for the project owning organization. Otherwise, this is the default transaction type of Projects Invoice or Projects Credit Memo based on the PROJECTS INVOICES batch source.


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Invoicing

Generating Invoices: You can generate an invoice for a single project, or for all projects having

potential invoices

For a single project, run PRC: Generate Draft Invoice process

Submit the PRC: Generate Draft Invoices for a Range of Projects in the Submit Request

window to run multiple invoice generation processes in parallel.

When you generate an invoice, Oracle Projects first select projects, tasks, and their associated

events and expenditure items that are eligible for billing

Oracle Projects next creates invoice items for billing events, revenue events, and for expenditure

items based on invoice formats defined for labor and nonlabor items. When Oracle Projects

creates invoice items, it also searches for available funding for each invoice item.


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Retention

Retention: Retention is a provision in a contract to hold back a portion of invoiced amounts for the duration of the project.

Retention Level: Project or Top Task level for each customer

Retention Terms: Retention Terms determine how amounts are withheld from project invoices and how the withheld amounts are billed to the project customer. Retention terms include:

Withholding Terms

Withholding Terms by Expenditure Category

Withholding Terms by Event Revenue Category

Billing Terms


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Retention http://oracleapps88.blogspot.com/

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Retention

Witholding Terms: Apply terms to all sources of project invoice amounts for the specified

project or top task. For each term, you can define a withholding percentage or amount, and

optionally, a threshold amount.

Withholding Terms by Expenditure Category: You define withholding terms for specific

classifications of cost, such as labor or materials. The following expenditure classifications are

available for this definition:

Expenditure category

Expenditure type

NonLabor resource

Withholding Terms by Event Revenue Category: You define withholding terms for specific

types of milestone events such as fees or incentives. The following classifications are available

for this definition:

Revenue category

Event type


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Retention

Retention Billing Terms: Retention invoices bill project customers for previously withheld retention

amounts. Billing terms control the timing and calculation of retention invoices.

Total Withheld Amount: When the amount of unbilled retention on a project or top task exceeds a

stated threshold (total amount), the invoice generation process automatically creates a retention

invoice for the specified percentage (billing percentage) or amount (billing amount).

Percent Complete: When your project or top task reaches the specified percent complete,

retention invoices are generated automatically.

Billing Cycle: Retention invoices are generated automatically based on a billing cycle.


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Percent Complete

Percent Complete based Revenue and Billing Generate revenue and invoices based on the

percent complete that you enter for a project. Enter Percent Complete at the Funding level.

Oracle Projects performs the physical percent complete revenue calculation using the following

predefined billing extensions:

Percent Complete Revenue

Percent Complete Invoicing

Creates an automatic revenue or invoice event based on the percent complete at the funding level.


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Revenue Accounting

Revenue Accounting : Once revenue is created, Oracle Projects runs AutoAccounting to determine the appropriate general ledger accounts.

Example: Accounting for Labor Revenue

Labor Revenue Account Function: When you run the PRC: Generate Draft Revenue process, Oracle Projects uses the Labor Revenue Account transactions to credit a revenue account for labor items.

Enable the Private Labor Revenue Transaction and Assign Rules:

Function Name: Labor Revenue Account, Transaction Name: Private, Labor Revenue



1 Cost Center Employee Cost Center

2 Account Private, Fee Revenue


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Revenue and Invoice Accounts Function: When you run the PRC: Interface Revenue to General Ledger process and then the PRC: Interface Invoices to Receivables process, Oracle Projects uses the Revenue and Invoice Accounts function to determine which accounts to use when it interfaces draft revenue and draft invoices.

The Revenue and Invoice Accounts function consists of the following transactions:

Unbilled Receivable Account

Accounts Receivable

Invoice Rounding Account

Unearned Revenue Account

Invoice WriteOff Account


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Accrue prior to billing

Account Debit Credit

Unbilled Receivables 200

Revenue 200

Invoice prior to Accrual


Receivables 200

Unearned Revenue 200


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Accrue prior to invoicing and invoice partial amount of work



Revenue 200

Invoice prior to Accrual and later accrue more than invoice


Receivables 200



Receivables 100





Revenue 300


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oracle projects(cons)

Documents