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Oracle project costing
Oracle Project Costing is a solution for effectively managing project costs and accounting. It integrates with purchasing, payroll, accounts payable, and other modules to collect costs, then allows users to track costs, monitor project performance, and account for total business costs. Key capabilities include defining project classes, establishing budgets, collecting and distributing costs, and integrating costs with the general ledger for financial reporting.
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Oracle project costing
- 1. •Oracle Project Costing PreparedBy: Munir Ahmad Oracle EBS Application Consultant
- 2. • Agenda Oracle ProjectCosting Overview Integration with other modules Project Classes Project Costing Process Flow Collect and Manage Costs Project Costing Pre-requisites Projects & Task Overview Burden Schedules for costing Budgetary control & Budget integration Project & Task Creation Costed & Uncosted Transaction Flow
- 3. • Oracle ProjectCosting Overview: •Oracle Project Costing is an integrated project-based cost collection, management, and accounting solution that enables organizations to effectively manage projects and activities. •Project managers are empowered with timely, detailed cost,information to monitor project performance, while financial managers can track and account for the total costs of running their business • Detailed cost information to monitor project performance Can track and account for the total costs of running business
- 4. •Integration with othermodules •Oracle Project Costing imports data from these Application •Oracle Purchasing •Oracle Time & Labor •Oracle Payables •Oracle Project Manufacturing •Oracle Asset Tracking •Oracle Internet Exp •Oracle iProcurement •Oracle Project Costing •Oracle General Ledger •Oracle Assets •Oracle Project Costing sends data to these Application
- 6. •Project Classes •Collect costsfor all project classes for example, •Indirect •Capital •Contract •Track Overheads Cost Such as Research and Development •Track capital assets costs and retirement adjustment asset costs •Track costs, revenue, and bill customer
- 7. •Project Costing ProcessFlow •Enter and Approve Expenditure •Import Transactions •PRC: Distribute Labor Cost ( Distribute cost concurrent) •Journal Import •(Oracle General Ledger) •PRC: Transfer Journal Entries to GL (Optional) •PRC: Create Accounting •PRC: Generate Cost Accounting Events
- 8. •Overview of projectand Task •Project •Task 1 •Task 1.1.1 •Task 1.2•Task 1.1 •Task 2.2.2•Task 2.2.1 •Task 2.2•Task 2.1 •Task 2 •A Project is a primary unit of work that can be broken down into one or more Tasks •Work Plan Management •The Work Plan management Functionality helps project manager & Team members deliver project on time. •The Financial management Functionality helps financial administrators & managers track billing, cost , budgets, and other financial information for projects •WBS •Top Task •Middle Task •Lowest Task •Financial Management
- 9. •Budgetary control &Budget integration •Top Down integration budget: •Generate encumbrance journal entries •for project budget to reserve funds against a GL funding budget •Bottom up integration budget: •Generate budget journal entries for •Project Budget to post to an •organizational level GL budget •Non integrated budget with budgetary •Controls: •Use budgetary control features without •sending budget accounting entries to GL •Budgetary control •validation •Purchasing •Payables •Project Costing •General Ledger •Enforce budgetary control against a GL budget and against a project budget •Budget integration
- 10. •Project & TaskCreation
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- 18. •Interfacing Costs toproject
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- 24. •Cost Accounting Eventsreport
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