Download to read offline
![]project-open[ Timesheet Project Invoicing](https://cdn.slidesharecdn.com/ss_thumbnails/project-open-timesheet-project-invoicing-100217040220-phpapp01-thumbnail.jpg?width=640&height=640&fit=bounds)
Resurgent-Mubadala dadsdsdasdadadada-.pptx
- 1. Projects Overview (ProjectAccounting) Project Costing & Billing Client logo to be inserted
- 2. Agenda • Introduction toOracle Projects: Capabilities and Key Features • Financial Alignment: Integrating Projects with Subledgers • Project Initialization and Control: Creation and Budget Management • Managing Capital Expenditures: The Capital Project Process • Generating Revenue: Project Billing and Invoicing • Resource Cost Distribution: Utilizing Cross-Charge Functionality • External Resource Management: Subcontractor Handling in Oracle Projects • Data Access and Protection: Project and Organization Security Framework
- 3. Projects Task 2.1 Task2.2 Task 2 Task 1.1 Task 1.2 Task 1 Project Task 2.2.2 Task 2.2.1 Task 1.1.1 A project is a primary unit of work that can be broken down into one or more tasks.
- 4. Projects Oracle Projects hasmany features that address common business needs: • Project-tracking tools • Cost collection and calculation capabilities • Allocations and allocation sets features • Project asset creation functions • Flexible revenue accrual and invoicing functions • Online reporting and hard-copy reporting • Full adjustment capabilities • Multi-national, multi-organization features • Oracle and non-Oracle applications integration
- 5. Overview of Projects- Project Classes & Types • Project classes are predefined, but project types are implementation-defined. • See below few examples of project types used for the different project classes. Project Classes Project Types Indirect Capital Contract Bid and Proposal Overhead Product Development Time and Materials Cost Plus
- 6. Overview of Projects– subledger integrations Functional Integration: Oracle Projects applications are designed to integrate with many other Oracle application suites (including Oracle HRMS, Oracle Financials, and Oracle Supply Chain applications) to provide an efficient information flow, facilitate a global sharing of resources, and provide robust intercompany accounting. WIP Inventory Personnel $ $ Accounts Payable $ VISIO CORPORATION GL $ $ Accounts Receivable Organization & Employees Project Management - Schedule - Progress - Issues - Changes Expenditures Mfg Costs Projects Budgets Costing Project Resource Management Revenue Accrual Project Collaboration Invoicing Expense Reports
- 7. Project Creation Start Search For Project/ Template Copy Appropriate Project/ Template EnterBasic Project Information Change Project Statuses Project Information Saved End Attach Key Members Review the Task Open Created Project
- 8. Project Budgets Every projectbudget that you enter is classified by a budget type. Each budget type is defined as either a cost budget type or a revenue budget type. Oracle Projects predefines four budget types: • Approved Cost budget • Approved Revenue budget • Forecast Cost budget • Forecast Revenue budget For cost budgets, you can enter: • Quantities • Raw cost • Burdened costs For revenue budgets, you can enter: • Quantities • Revenue amounts User-Defined budget Forecast Cost budget DRAFT DRAFT DRAFT Budget Versions Budget Types Original 1st Revised original 2nd Historical 3rd Revised original 4th Current 5th version Submit and baseline Approved Cost budget Budget versions are grouped as follows: • Original: First baselined budget • Current: Most recently baselined budget • Revised original: Revisions of the original budget • Historical: Historical copies of previously baselined budgets
- 9. Project Budgets –Budget Entry Method (BEM) For each version of each budget type, these four key budgeting options must be determined: • Level of budget (project versus task levels) • Cost amount types (quantity, raw, and/or burdened cost) • Time-phase (total duration versus time periods) • Detail of budget (summary versus categorized detail) Every combination of these key elements is assigned to a unique budget entry method. Levels of Budget:
- 10. Project Budgets –Budget Process Flow An approval flow can be implemented for the baselining of the budget. Enter/revise draft Baseline draft Submit draft Copy budget Rework submitted budget Create projects Baselined budget versions Track budget vs. actuals
- 11. Capital Project Process CreateProjects from templates Integrate with multiple sources Track cost against budget Allocate/Transfer Cost Drill Down features View Commitments Generate Accounting
- 12.
- 13. Oracle Project Billing •Agreements and Funding • Multi-Currency Billing • Project Revenue • Invoices • Interfacing Invoices to Oracle Receivables • Customer Retention Billing • Interproject Billing • Integration with Oracle Project Contracts Key components include:
- 14. Project Billing Flow Create Project DefineTasks, 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
- 15.
- 16. Project Billing >Agreements and Funding Task 2 Task 3 Project B Agreement Funded $300K Project A Project C Project D $100K $50K $50K $30K $70K Task 1 $150K
- 17. Project Invoice Flow Generatedraft Invoice Based on: 1) event 2) Revenue distributed cost 3) Adjustment Interface invoice to AR Approve invoice Review, adjust invoice Approve invoice Release invoice Print invoice Send invoice to customer
- 18. Project Revenue –Process flow Tieback revenue GL journal import Interface to General Ledger Generate draft revenue Cost- distributed costs Events Adjustments Revenue- generated costs Revenue- generated events Oracle General Ledger GL interface GL journal entries
- 19. Overview of CrossCharge Example: Timecard Provider Organization Expenditure Organization: Services-East Receiver Organization Task Organization: Cleveland Mfg A cross charge is the act of entering a transaction where the expenditure organization and the task owning organization are different.
- 20. Cross Charge TypesExample Business Group Legal Entities Operating Units Cross Charge Types United States US Corp. New York Denver Dallas Inter-Operating Unit Intercompany Intra- Operating Unit US Services
- 21. Processing Methods Borrowed andLent Accounting Inter-operating unit and intra-operating unit cross charges Intercompany Billing Accounting Intercompany and inter-operating unit cross charges None: No Additional Processing Intercompany, inter-operating unit, and intra- operating unit cross charges Processing methods and the cross-charge types with which you can use them
- 22.
- 23. Subcontractor – paywhen paid In the project it is enabled that when the customer invoice is paid the supplier (subcontractor) invoice is ‘automatically’ released for payment
- 24. Subcontractor – paywhen paid – purchase order • When the buyer raises the purchase order for the subcontractor, the ‘Pay When Paid’ flag is set to Yes. • The purchase order distribution is linked to the project & task.
- 25. Subcontractor – paywhen paid – AP Invoice • The subcontractor sends his AP Invoice which is processed by payables department. The invoice is matched to the purchase order. Once the invoice is validated, the system automatically applied the invoice hold “Pay When Paid”. • The invoice cannot be selected in a payment process request (payment batch). First the customer needs to pay the invoice and then the system will ‘automatically’ release the invoice hold and then the invoice will be selected for payment.
- 26. Subcontractor – paywhen paid – AP Invoice • After the invoice is accounted, there is another process that interfaces this cost into the project. • As you can see the line is billable. Next steps is to generate revenue and then generate the customer invoice
- 27. Subcontractor – paywhen paid – Revenue Generate Revenue. Next step is to generate customer invoice
- 28. Subcontractor – paywhen paid – Customer Invoice & payment • The Invoice is generated and sent to the customer. The customer pays the invoice, so an AR Cash Receipt is created. This can be done manually or imported automatically through ‘lockbox’ interface processes.
- 29. Subcontractor – paywhen paid – Release hold for payment • Now that the customer invoice is paid, the project manager / project accountant etc. can run process to release the invoice hold for the contractor invoice. Running the process: PRC: Release Pay When Paid Holds. • There are many parameters to select the correct invoices for releasing the holds. When running in draft mode, you can see which invoices would be released for payment.
- 30. Subcontractor – paywhen paid – AP Invoice ready for payment • In the invoice workbench you can see in the holds tab that the hold is automatically released. • Once the payables department runs their periodic payment process requests (payment batch) the invoice will automatically be selected for payment.
- 31. Subcontractor – iSupplier Thesubcontractors and other suppliers can use the iSupplier portal to login and manage their work, manage deliverables, submit the AP Invoices, see the open invoices, manage purchase orders, enter timecards, etc. The subcontractor can confirm his work and submit.
- 32. Project and OrganizationSecurity
- 34.