Billing Methods

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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Cost: POC calculation, Automatic creation
Work: Total work, Automatic creation
Event: Manual creation

POC  Revenue = Actual Cost / Budgeted Cost  X  Budgeted Revenue

PROJECTS INTEGRATION

                                                                                                                 11i

                                                                                                                  R12

PA View Security Profile

In PA to restrict the user to see only data/ expenditures pertaining to the projects for which he is a key member

Set the below profile value to "No" at Site , Responsibility and User level

PA: Cross Project User -- View --------> No
PA: Cross Project User -- Update ------> No

Products in Oracle Projects Suite 11i

1. Oracle Project Foundation
2. Oracle Project Costing
3. Oracle Project Billing
4. Oracle Project Resource Management
5. Oracle Project Management
6. Oracle Project Collaboration

Oracle Project Foundation

Oracle Project Foundation provides the common foundation shared across other Project Products (costing, billing etc)

• Set of books
• Locations
• Organizations
• Calendars
• Job Groups
• Project Roles
• Project Statuses
• Project Templates
• Extensions and Workflows

 If you have already implemented GL Application, you can skip the set up related to Set of books, Locations, Calendar etc. The above list contains only the important components

Oracle Project Costing

Oracle Project Costing is an integrated project-based cost collection, management and accounting solution that allows organizations to effectively manage projects and activities. The major components are listed below

• Expenditure Categories
• Revenue Categories
• Expenditure Types
• Transaction Sources
• Labor Costing Extensions
• Auto Accounting for Costing Transactions
• Account Generators 
• Non Labor Costing
• Labor Cost Schedules
• Cross Charging
• Transfer Price Rules

 The above list is not a exhaustive one and contains only the important components

Oracle Project Billing

Oracle Project Billing can automate revenue generation, simplify client invoicing, improve your cash flow and measure the performance and profitability of Contract Projects

• Define and assign billing assignments
• Implement billing extensions
• Define Agreement Types, templates
• Define auto accounting for Revenue, Receivables, Unbilled Receivables and Unearned Revenue

Oracle Project Resource Management

PRM is an integrated project staffing application to help you to manage project resource needs, profitability and organization utilization by locating and deploying qualified resources to projects across  your enterprise.

 
Oracle Project Management

Project Management provides project managers the visibility and control they need to deliver their projects successfully

• Implement Work plan
• Define budget - types, extensions, workflow
• Project Status Reporting (PSI)

Oracle Project Collaboration

Oracle Project Collaboration streamlines team collaboration and execution of project work.

• Shares information with Oracle Project Management and provides a personalized view for team members
• Define team member home page lay outs
• The team member home page lay out promotes team collaboration by combining critical project information with daily functions of each user.
• Facilitates document sharing
• Quick access to common functions

Agreement on Invoice

The agreement number will be picked up based on the following logic/order:

1. Hard limit agreements will be selected before soft limit agreements
2. Expiration Date (expiring agreements have higher priority over non-expiring agreement)
3. Maximum available funding (baselined funding - billed) (agreements with more available funding will be selected before agreements with lesser balance funding)
4. Agreement Id (older agreements will be picked first than the more recently created agreements)

Say we have 2 agreements A1 and A2 and having Balance Funding amount of $10000 and $5000 respectively. Normally if if you try to generate the invoice, all others being equal it will pick agreement A1 for the invoice.

Say we need to generate an invoice for $5000 on agreement A2, then set hard limit and an expiration date on A2 and soft limit on A1, So as per the above logic A2 will be selected.