|Integration with Oracle Subledger Accounting||Oracle
Subledger Accounting (SLA) provides tools to meet external reporting (US
GAAP, IFRS), corporate management and fiscal reporting requirements.
Project Costing has been enhanced to fully support SLA. Project Costing supports both the accounting rules defined in AutoAccounting as well as the accounting rules defined in SLA. In either case, all accounting entries are stored in SLA.
"Create Accounting" process is used to generate accounting entries in SLA and interface to General Ledger.
|Multiple Reporting Currencies (MRC)||Multiple
Reporting Currencies provide the capability to account and report in multiple
currencies in addition to the primary ledger currency.
MRC amounts are calculated by SLA and stored in alternate ledgers. The MRC amounts can be viewed in accounting drilldown windows in SLA.
The MRC information in Oracle Projects is no longer used and all MRC implementation options are now obsolete in R12.
contingent worker can fill any project role including the project manager.
Contingent worker costs can optionally
be processed as supplier costs or labour costs. When processing costs as
labour, contingent worker timecards must be entered.
Expense Report processing for Contingent Worker: The transaction flow for expense reports is the same for contingent workers and employees. However, the payment processing is different for contingent worker: payee is the continget worker supplier rather than the worker incurring the expense.
|Introduction of Invoice lines in Oracle Payables||Addition
of Invoice Lines in Oracle Payables has introduced the following enhancements
in Project Costing:
Profile Option "PA: Default Expenditure Item Date for Supplier Cost": This profile option controls the default value of the expenditure item date for invoices, receipts, payments and discounts.The value can be defaulted from the following transaction attributes:
• Expenditure Item Date entered on the Purchase Order
• Transaction Date for the invoice or payment
• GL Date for the invoice, payment or discount
• System Date when the invoice or payment is created
Enhanced Expenditure Inquiry by:
• Invoice Number
• Invoice Line Number
• Invoice Distribution Number
• Payment Number
|Supplier Cost Integration||The
following modifications have resulted in Project Costing due to functionality
changes in Payables and SLA:
• Purchasing receipt accruals are always interfaced from Purchasing to Projects.Invoice variance and discounts are interfaced from Payables to Projects.
• Prepayment Invoices are captured as commitments and are no longer interfaced to Project Costing as actual cost.
• Project related expense reports are created in iExpenses or Payables, they can no longer be created as pre-approved batches in Projects and are no longer interfaced to Oracle Payables.
|Supplier Cost Adjustments||Supplier
Costs can be adjusted in Project Costing under any of the following
• The Automatic Offset feature is enabled in Payables
• Cash Basis accounting is enabled in Payables for primary or secondary ledger and the invoice is fully or partially paid
• The invoice is fully or partially paid and the option to allow adjustments to paid invoices is disabled in Payables
• The invoice is matched to a finally closed purchase order.
• The invoice is prepaid, either fully or partially.
In 11i, adjustments made to supplier invoices were interfaced to Oracle Payables which in turn created and interfaced accounting entries to GL.
In R12, when supplier invoice is adjusted in projects, the accounting entries required to report the adjusting activity are generated and interfaced to GL by Projects. Adjustment transactions are no longer interfaced from Projects to Payables.
|Future Dated People||Enter actual project transactions for future-dated people only after they become active. In a future-dated expenditure batch, you can enter people who will be active as of the transaction dates.|
|Labour Costing Enhancements*
(*Available with R12.2)
following features are provided to increase flexibility and reduce
• Costing with HR rates with support for multiple rates per employee
• New OTL timecard layout to support Rate by Criteria
• Labour costing using Payroll Actuals
• Labour Cost Accruals
• Expenditure Batch Reversal Program
|Integration with Oracle E-Business Tax||Project Billing uses the Oracle E-Business Tax to derive appropriate tax codes for project invoices based on the tax setup defined for the project.|
|Customer at Top Task||Customers can be defined at the top task level. This enhancement enables invoicing customers for specific project work by top task.|
|Invoice Method at Top Task||Invoice methods can be defined at the top task level. This enhancement enables invoicing customers with different methods such as, fixed price and time and materials, within the same project.|
|Invoice Line-Level Write-Off||Invoice write-offs can be created at line level. The line level write-off can be applied by prorating an amount across selected lines or by entering an amount by line. This enables writing-off of invoice amounts for specific line items on an invoice as oppposed to prorating the amount across all lines on the invoice.|
|Revenue in Foreign Currency||Convert
Revenue to Foreign Currency: You can optionally choose to
convert the revenue amount in project functional currency to Revenue
transaction currency. Invoice transaction currency is treated as the revenue
During revenue generation, revenue is calculated in project functional currency and then converted to transaction currency.
View Project UBR/UER amounts in Project Currency: Unbilled receivables and unearned revenue amounts can be viewed in the project currency in the Billings review page. The project level UBR/UER balance in project functional currency is converted to the Project currency and displayed in the billing review page.
|Invoice Concessions||A credit amount can manually be applied against a customer invoice without needing to adjust any supporting transactions. Concession invoices are processed like credit memos.Concessions can be applied at the invoice header or line level.|
|Agreement Definition Enhancements||The
following new agreement fields are added:
•Start Date: to more accurately control the duration of agreement
•Billing Sequence: to control the order in which agreements are used for billing purposes
•Advance Required Checkbox:to control if an advance is required before invoicing can occur
|Prepayment Receipt Application||Prepayment receipts entered in Receivables can be associated with agreements. These receipts will then be automatically applied to project invoices when they are interfaced to AR.|
|Date Effective Funds Consumpltion||When this option is enabled, the cost and event transaction dates must fall within agreement start and end dates to be billed against an agreement. Additionally, transactions are only billed against the agreement if the full transaction amount can be funded.|
|Standard Invoicing for Adjusted Transactions *
(Available with R12.2)
|Prior to R12.2, if an expenditure item is adjusted after it has been billed, the invoicing process generates a credit memo to reverse the billing of original item and will then include adjusted transaction on next standard invoice. With the new feature, reversal and adjusted transaction can both be included on next standard invoice eliminating the use of credit memo.|