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This article gives a basic understanding of the Oracle Projects Invoice Flow:
Below are Steps that needs to be followed for successfully creating a Projects Invoice and
interfacing it to Oracle Receivables.
Create a Project of 'Contract' Project Type. Only Contract Projects can be associated with
a Customer. Create WBS Structure for the Project. Identify the Project Manager. Assign
Team members if needed.
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Assign a Customer to the Project and the 'Bill to ' Address for the customer, so that the
customer can be billed. Also you can assign Billing and Shipping Contacts for the
Customer in the Customers Options in the Projects Form.
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A Funding Agreement needs to be created for the Customer with the Terms and the
Agreement Amount. This can be done using the Agreements Form.
Here you can specify the 'Hard Limts' . If the Hard Limit is set for Revenue, Revenue
cannot be generated past the funded amount for the project. Similarly if the Hard Limit is
set for the invoice, the customer cannot be billed past the funded amount in the agreement
for that project.
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Fund the Project using the Customer agreement created in Step 4. This can be done using
the Fundings Section in the Agreement Form. If a customer agreement already exists for
this customer, you can use the same agreement to fund this project.
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This Step is optional, if the 'Baseline Funding without Budget' option is set at the
Project level. If this option is not set, then an approved revenue budget for the project has
to be created with the funding amount. Baselining this budget, baselines the funding
automatically.
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If 'Baseline Funding without Budget' is set then the funding can be baselined without
the Approved Revenue Budget. Oracle Projects creates an internal Approved Revenue
Budget with the budget amount equal to the Funding amount and baselines both the
Budget and Funding.
This step is optional depending on the Distribution Rule for the invoice. If the invoice
distribution rule is WORK, this step is mandatory. The process "PRC: Generate Draft
Revenue for a single Project" is run for the Project. If revenue needs to be generated for
multiple projects, run the "PRC: Generate Draft Revenue for range of Projects" process
giving the Project Number ranges.
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Run the Process "PRC:Generate Draft Invoice for a single Project", giving the Project
number as parameter. This will generate draft invoices only for that project. If you want
to generate invoices for multiple projects, run "PRC: Generate Draft Invoice for a range
of Projects" giving the Project number ranges.
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The invoices needs to be approved and released in order to interface them to AR. This
can be done in the Invoice Review Form. Alternatively the Automatic Approval and
release client extension can be used to automatically approve and release the invoices.
But it all depends on the business scenario. Generally an invoice accountant will review
the invoice, approve and release it.
Run the "PRC: Interface invoices to Receivables" process in order to interface the
released projects invoices to AR. This process will populate the AR interface table. Once
this process is run, in AR, the " Autoinvoice import"process need to be run so that it will
create AR invoices from the interface records.
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