Wednesday, March 6, 2013

Overview of Oracle Project Accounting (PA) Module

This article will explore the overview of Project Module in Oracle E Business suite. Functionalities, features and integrations of Oracle Projects with other Oracle Modules.

The Project Accounting (PA) module provides timely and detailed solutions to project managers as well as the finance groups.  The details give you improved visibility to project revenues, work breakdown structures, invoice accountability and overall profitability to any project. With the Project Accounting Module you can:
  • Put the power of data into the hands of the project managers
  • Provide accurate and up to date information to finance and the project managers regarding spend rates and burdened costs for materials or labor
  • Maintain draft, baseline and original versions of the project budget
  • Define statuses of any project
  • Utilize the power of a flexible work breakdown structure

Features of Oracle Projects
Work Breakdown Structures
  • Top level tasks default to sub-tasks making data entry minimal
  • Flexible budget functionality allows budgets to be set at a summary or detail level.  Budgets can also be set at various levels of tasks
  • Templates are available to aid in data entry

Costing and Cost Plus Processing
  • Project managers and finance decide which costs are burdened and applied to raw costs or if they are set up as a cost plus agreement
  • Default rate schedules can be used, but individual schedules can also be created

Automatic Account Generation
  • Each transaction entered into the Project Accounting module updates any related accounting modules
  • Credit payroll costs to the correct liability accounts
  • Feeds from the Auto Accounting functionality

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