Project Billing- Retention money due after project end

Hi,
We have PS, FI and SD integration. We have different contract for projects, which we are handling through PS.
We are doing billing for the contract project each month. Project duration is long and each month we are doing billing to customer.
We require that in each billing some part is belongs to retention---which is kept by customer from each bill and that will be payable by customer only after project end.
So when doing billing each month retention amount should be separate line item for each billing and due date for that retention should be the date after project end date. Bcz customer will release the all retention amount together only after project end.
If I take one example for the scenario:.........
Total Project Revenue (Contract Amount) 36000
Duration for Project : 36 month
Billing to Each Month : 1000
Retention = 10% from each billing (Due after project end)
Payment term : 90% due immediately, 10% retention due after project end date (means after 36 month)
When I am doing 1st month billing and maintain payment term as installment (90%+10%) than for this month system create two line item for billing i. e 900 (90%) due immediately and 100 (10%) due after 36 month.
When I will do 2nd month billing system again create two line item i.e. 900(90%) due immediately and 100(10%) due after 36 month........means this 10% will be due after 36 month from the date of billing.
I am doing billing in 2nd month so retention for 2nd billing will be due 1 month after the project end date......same will be continue for 3rd 4th.......36th month billing and retention amount will be due after 36 month from the billing date.
But for project related billing my all retention should be due on same date, which is project end date.
How to do this.....Please reply.
Regards,
Bharat
Edited by: Bharat Gadkar on Nov 22, 2008 10:24 AM

Hi
You can define an instalment payment term with 90% & 10%. You can assign different payment terms for these two items so that the payment date can be met according to your requirements. so make your payment date requirements in the payment terms and assign the same to the instalments.

Similar Messages

Retention in Each invoice for project billing

Hi,
We have PS, FI and SD integration. We have different contract for projects, which we are handling through PS.
We are doing billing for the contract project each month. Project duration is long and each month we are doing billing to customer.
We require that in each billing some part is belongs to retention---which is kept by customer from each bill and that will be payable by customer only after project end.
So when doing billing each month retention amount should be separate line item for each billing and due date for that retention should be the date after project end date. Bcz customer will release the all retention amount together only after project end.
If I take one example for the scenario:.........
Total Project Revenue (Contract Amount) 36000
Duration for Project : 36 month
Billing to Each Month : 1000
Retention = 10% from each billing (Due after project end)
Payment term : 90% due immediately, 10% retention due after project end date (means after 36 month)
When I am doing 1st month billing and maintain payment term as installment (90%+10%) than for this month system create two line item for billing i. e 900 (90%) due immediately and 100 (10%) due after 36 month.
When I will do 2nd month billing system again create two line item i.e. 900(90%) due immediately and 100(10%) due after 36 month........means this 10% will be due after 36 month from the date of billing.
I am doing billing in 2nd month so retention for 2nd billing will be due 1 month after the project end date......same will be continue for 3rd 4th.......36th month billing and retention amount will be due after 36 month from the billing date.
But for project related billing my all retention should be due on same date, which is project end date.
How to do this.....Please reply.
Regards,
Bharat
Edited by: Bharat Gadkar on Nov 17, 2008 4:07 PM

Hi,
We have PS, FI and SD integration. We have different contract for projects, which we are handling through PS.
We are doing billing for the contract project each month. Project duration is long and each month we are doing billing to customer.
We require that in each billing some part is belongs to retention---which is kept by customer from each bill and that will be payable by customer only after project end.
So when doing billing each month retention amount should be separate line item for each billing and due date for that retention should be the date after project end date. Bcz customer will release the all retention amount together only after project end.
If I take one example for the scenario:.........
Total Project Revenue (Contract Amount) 36000
Duration for Project : 36 month
Billing to Each Month : 1000
Retention = 10% from each billing (Due after project end)
Payment term : 90% due immediately, 10% retention due after project end date (means after 36 month)
When I am doing 1st month billing and maintain payment term as installment (90%+10%) than for this month system create two line item for billing i. e 900 (90%) due immediately and 100 (10%) due after 36 month.
When I will do 2nd month billing system again create two line item i.e. 900(90%) due immediately and 100(10%) due after 36 month........means this 10% will be due after 36 month from the date of billing.
I am doing billing in 2nd month so retention for 2nd billing will be due 1 month after the project end date......same will be continue for 3rd 4th.......36th month billing and retention amount will be due after 36 month from the billing date.
But for project related billing my all retention should be due on same date, which is project end date.
How to do this.....Please reply.
Regards,
Bharat

Project BIlling - Billing Extension

Hi,
I am pretty new to project and I need to know about billing extension.
Can anyone have some documents/links on billing extension?
Thank you.

Hi
You may want to start with reading Oracle Projects User Guides.
Look at both - Oracle Projects Billing User Guide and Oracle Projects API's Client Extenstions and Open Interface.
You may also review presentations and white papers presented on OAUG or Oracle conferences. which described use cases and solutions.
For example, you may review a presentation of Project Partners available on their site - http://www.projectp.com/demos/index.cgi?product=oaug
Dina

Lost sound in some film clips when finishing project. Using iMovie 11, after adding music to photo section, could not get sound back in 2 film clips at end of movie. Beginning clips ok. How do I restore sound? Thx.

Lost sound in some film clips when finishing project. Using iMovie 11, after adding music to photo section, could not get sound back in 2 film clips at end of movie. Beginning clips ok. How do I restore sound? Thx.

Everything in your project will be exported when you use the share menu.
If you want to export only half, I suggest that you
1) Select the project in the Project Library.
2) Click FILE/DUPLICATE PROJECT
3) Give the duplicate a name, like Project A snippet.
4) Open the duplicate project in the Project editor and delete the segments that you do not need.
5) Then Share.
You mentioned surrounding a portion of the clip you were editing in Yellow. Once you do this, you should right-click and then select either DELETE SELECTION, TRIM TO SELECTION, or one of the other options available. That is a key tool in editing.
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Project Billing Question

Hi All,
I have couple of Project billing questions. Hope you can help
1)A wrong customer was attached to project billing agreement, funding and base line also completed for the customer.
Now we realized that its wrong customer and want to change it to correct customer.
What are the options we have here?
Can we delete or end date the billing agreement?
will the funding be release from the wrong customner after deleting or end dating the billing agreement?
2) Wrong customer attached to a project..agreements,funding,baselining are NOT done.
How can we delete this customer and add the correct customer?
The option to change the customer is grayed out.
Appreciate if you can help.
Thanks

Hi
On your first question you said the agreement was created for wrong customer. Since you already baselined the funding, I assume you have that customer linked to the project.
You can go the Agreement form and enter a negative funding line allocated to the same project. The total allocated amount will be zero. The agreement is now not allocated and free to be allocated to another project. If it is a wrong agreement you may update the agreement amount to zero. Now create a new agreement for the right customer.
The open issue is with the project. You have a wrong customer associated with that project. However, system will not allow you to remove the customer - project record. Solution depends on the way the project was setup. Did you enable customer at top task? if so, end date the top task and create an alternative top task with the right customer.
If the project has been set with a single customer you better close the project and start a new one.
However, if you need an alternative solution, I can suggest a custom method. Go to Help > ..> Examine and change the existing customer of the project to zero contribution.
Now you will be able to add the right customer to the project and have 100% contribution on it.
Dina

Project Billing "write-off" options

I'm attempting to determine the best method of "writing off" transactions on direct projects that have been reported as billable, accrued revenue but will never be billed. Please consider the following narrative as an example:
A consultant (consultant x) charges April time and expense to project 10001 in a billable capacity (charged transactions to a billable task). The transactions are cost distributed, revenue distributed and an invoice is subsequently produced. All cost and revenue transactions are produced, interfaced and ultimately posted to the general ledger in April. The month of April is closed in PA and the invoices for the April billing cycle are produced. Project 10001's draft invoice includes those charges reported by consultant x and is distributed to the project manager for approval. The project manager reviews the invoice review and determines that consultant x's transactions will never be billed and instructs the accounting group to write off the transactions.
Challenge: we need a way to "write-off" (reduce revenue and change billing status) transactions that will allow for consistent reporting and measurement. Specifically, we need to be able to determine all write-off's (revenue/billing reductions) in a given period that relate to original transactions from an earlier or different period. In short, we want to establish a policy and procedure for consistently processing and reporting these types of conditions.
Proposed Options:
1) use the "special" non-billable adjustment option from either expenditure inquiry or invoice review to change the billing status from billable to non-billable.
Pros:
a) transactions will remain on the project in the capacity they were reported by the employee
b) an adjustment record will be created in the PA_Expend_Item_adj_Activities table which will include the adjustment activity code (i.e. Billable Reclass, Non-billable reclass, billing hold, billing hold release, etc.)
c) history of who created original transactions and adjustments is available (full audit trail)
d) a reversing revenue entry will be created in the PA_Cust_Rev_Dist_Lines_all table which will allow us to track the dates (gl period) of the revenue adjustment and compare it to the original transaction dates.
Cons:
a) to the average users the transaction on a billable task flagged as non-billable with no corresponding revenue may look unusual because there is no description explaining why the adjustment existed. the only way to determine that revenue existed and was subsequently reversed is to look at item details- revenue details.
b)The revenue write-off will be charged to the same accounts (revenue and inventory) that the original transaction was booked to but in reverse. we don't have the ability to deflect the "write-off" to a bad debt account versus a direct write-off of revenue.
c) The employee's utilization calculations will be impacted by changing the billing status of the transactions and reducing the corresponding revenue. we may need to update the utilization report to reflect these types of transactions differently.
2) use the "special" transfer adjustment option to transfer the transaction from the originating billable task to a non-billable destination task on the project in question.
Pros:
a) the average user will easily see that the transaction in question has been reversed and b) the revenue subsequently written off by the negative revenue on the reversal transaction
c) an adjustment record will be created in the PA_Expend_Item_adj_activities table which will include the applicable adjustment activity code(s) (Transfer Back-out, Transfer Originating, Transfer Destination).
d) history of who created original and adjustments is available.
a reversing revenue entry will be made via e) the negative reversal entry created in the PA_Cust_Rev_Dist_Lines_All table.
Cons:
a) the original transaction is being altered (transferred) by accounting. the integrity of the transaction as it was submitted by the source employee may be compromised.
b) there is no easy way for the average end user to know where the transaction was transferred to. the information is available via ad hoc reporting from database tables but looking at expenditure inquiry for a given project you will not be able to determine where the transaction went if it was transferred to another task and many tasks exist or if it was transferred to another project entirely.
c) The revenue write-off will be charged to the same accounts (revenue and inventory) that the original transaction was booked to but in reverse. we don't have the ability to deflect the "write-off" to a bad debt account versus a direct write-off of revenue.
d) The employee's utilization calculations will be impacted by changing the billing status of the transactions and reducing the corresponding revenue. we may need to update the utilization report to reflect these types of transactions differently.
e) As a common practice, each project will need at least one "non-billable" task to capture such write-off transfers.
3) use a write-off event (both revenue and billing) to reduce the project by the aggregate amount of all transactions in question.
Pros:
a) employee specific transactions and ultimately utilization results will not be impacted by the independent event transaction.
b) by modifying our autoaccounting rules we will be able to book the "write-off" to an account other than a revenue account. (I believe, more research necessary)
Cons:
a) No link back to actual transactions.
b) original transactions will remain untouched and will appear as though they were billed and will show up on the invoice and detail reports to the client along with an aggregated event for the total write-off amount.
Any thoughts or opinions you can provide about the best practice in Oracle will be greatly appreciated.
null

Diana,
Here's another response from a (very) senior Projects consultant. Her comments are in CAPS, so they can be dinstinguished from your comments:
"I recommend following the approach she outlines in Section 2, with the following additions:
SECTION 2) use the "special" transfer adjustment option to transfer the Transaction from the originating billable task to a non-billable Destination task on the project in question. CORRECT.
A) SET UP THE WBS TO HAVE A TOP LEVEL NON-BILLABLE TASK, ON EVERY PROJECT, WITH A TASK NUMBER OF :"WRITE-OFF".
B) WRITE AUTOACCOUNTING RULE , BASED ON TASK NUMBER, TO ENSURE THAT ANY TRANSACTIONS CHARGED (TRANSFERRED) TO "WRITE-OFF" TASK WILL BE POSTED TO A "WRITE-OFF/BAD DEBT" ACCT IN GENERAL LEDGER.
C) CREATE A DFF AT THE EXPENDITURE ITEM LEVEL WHICH CAN BE POPULATED AT THE TIME OF TRANSFER, TO INDICATE WHERE THE TRX IS BEING TRANSFERRED TO. IT IS TRUE THAT TRANSFER ACTIVITY REPORT WILL TELL YOU THIS AS WELL, BUT IF YOU
WANT TO SEE IT ONLINE DURING EXPEND. INQ, THEN DFF IS FINE.
D) AS TO CONCERNS ABOUT "THE INTEGRITY" OF THE TRANSACTION AS IT IS SUBMITTED BY THE EMPLOYEE BEING COMPROMISED, THIS IS CERTAINLY POSSIBLE, BUT IF THIS IS A SERIOUS BUSINESS CONCERN, THEN I WOULD CONSIDER CREATING AN ALERT TO THE EMPLOYEE WHO ENTERED THE ORIGINAL TRX, ADVISING THEM OF THE CHANGE AND REQUESTING THEIR REVIEW AND OR APPROVAL OF THE TRANSFERRED TRX. I CAN SEE THIS BECOMING QUITE CUMBERSOME THOUGH, AND, OVERALL, ACCOUNTING DEPARTMENTS MANIPULATE TRANSACTIONS FOR ACCOUNTING PURPOSES ALL THE TIME AS STANDARD PRACTICE, SO I'M NOT SURE WHY THIS IS AN ISSUE HERE.
E) AND LASTLY, IT IS TRUE THAT AS A COMMON PRACTICE, EACH PROJECT WILL NEED A
'WRITE-OFF" TASK AS A STANDARD PART OF IT'S WBS-- SO WHAT? IT'S JUST ONE MORE TASK IN YOUR WBS. BUILD IT INTO YOUR PROJECT TEMPLATES, AND MAKE IT NOT CHARGEABLE UNTIL WRITE OFFS BECOME NECESSARY. AS TO UTILIZATION, THERE IS NOT ENOUGH INFO IN THE CLIENT QUESTION TO ADDRESS THAT ISSUE PROPERLY.
THAT'S ABOUT IT. HOPE THIS HELPS.
BEST REGARDS, PAT"
null

Final Cut Pro X hangs upon opening due to large project. Way to access previous project Version?

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Anyone have experience of payment terms such as "Net Due 45 days after Month End"?
I'm trying to define payment terms where the amount is due X days after month end.
Terms such as 10 days after month end are OK because I can set "Months Ahead" = 1 and "Day of Month" = 10
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Hi,
We are currently evaluating the funtionalities of Project Cross Charge Vs Inter-project billing. Our setup is such that we have 3 Legal Entities, 3 Business groups, 3 SOB's and 3 operating units, each tied to their own legal entity, Business group and Set of Bools. When reviewing the documentation, it looks like the Cross charge functionality does not support operating units that are in two different business groups. Does that imply that we have use the Inter-project billing to charge projects across operating units.
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- Vasu Krishnaswamy -

Hi,
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Hi Dena,
extremely sorry for troubling .......... can u kindly mail me these document .... Accounting entries(Debit/Credit) in Oracle Project Suite , at [email protected]
in advance thanx alot
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Hi
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Thanks,
Akshaj

Hi Dina,
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IP-Sales               (200)     (200)
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Project Billing- Retention money due after project end

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