Community SIG Presentation: Projects to Profit Fundamentals Becky Alvarez, Rysigo Technologies Corp. furthermore, Wendy Lamar, Rolta TUSCSlide 2
Agenda About the Presenters Introduction Configuration FlowSlide 3
Wendy Lamar Senior Management Consultant with Rolta TUSC Over 13 Years Experience Implementing and Supporting Oracle Applications OAUG Project SIG Development Liaison Duties Include Gathering Customer ERs and Facilitating Prioritization and Communicating Those to Oracle Product StrategySlide 4
Becky Alvarez – Director of E&C Practice WHAT WE DO STRATEGIC CONSULTING SERVICES SPECIALIST AREAS Engineering and Construction Professional Services Energy and Utilities Hi Tech/IT Transportation Oracle EBS, CRM, Primavera, OBIEE Global Deployments, Shared Service Centers Global Program Offices™ Project Centric Organizations PRODUCTS Collaborative Proposal Management Collaborative Risk Management Risk Management for Oracle Projects 70 years of aggregate experience planning, assembling and actualizing a number of the Oracle Application is utilize today. email@example.com Rysigo Technologies Corp. gives Collaborative Work Management programming and administrations. Business and Finance Transformation Management Consulting ERP, CRM and Analytics Reporting Applications ManagementSlide 5
Introduction Where are we in the P2P FlowSlide 6
Where are we now in P2P? Quote to Cash People to Paycheck Start Procure to Pay Project to Close Design to Build Accounting to Financial Reports EndSlide 8
Configuration How to Set Up Projects for P2PSlide 9
Configuration Define Payables Options for Discounts Prorate Expense: Discount allocated over all circulation lines Prorate Tax: Percentage of rebate customized over all duty dissemination lines System Account: Credits the aggregate markdown to the markdown considered characterized in AP Financial OptionsSlide 10
Configuration Profile Options PA: Allow Adjustments to Receipt Accruals and Exchange Rate Variance PA: Allow Override of PA Distributions in AP/PO PA: Default Expenditure Item Date for Supplier Cost PA: Default Expenditure Organization in AP/POSlide 11
Configuration Supplier Invoice and Project Related Purchasing Account Generators Default Supplier Cost Credit Account (PA System Options) Interface AP & PO DFF Profile Options PA: Transfer DFF with AP Expense Reports, Vendor Invoices PA: Transfer DFF with PO Receipt AccrualsSlide 12
Project Suite Considerations When running the procedure \'PRC: Interface Supplier Costs\' guarantee that the accompanying parameters are set to Yes: Interface Supplier Invoices Interface Receipt Accruals Interface AP DiscountsSlide 14
Project Suite Considerations All modules have a Create Accounting process that interfaces diary passages to Subledger Accounting. The parameters control interface to GL and posting of GL diary passage. The Create Accounting process per module normally should finish effectively preceding interface of use thing to Project Transactions make diary sections in the source module – cost gathers in Project moduleSlide 15
P2P Flow How Contract/Billable Projects are overhauled by POsSlide 16
P2P Process FlowSlide 17
Create Requisition as well as PO Requisition or PO Line is Entered Referencing: Project Task Expenditure Item and Expenditure Organization Account Generator Derives Default Charge Account, Accrued Liability (Inventory AP Accrual), and Variance AccountsSlide 18
Create POSlide 19
Distribute to ProjectSlide 20
Updates Committed Costs Before AfterSlide 21
Receive Goods/Confirm Work Receive Goods/Confirm Work - Accrue on Receipt Interfaces Cost to Project @ PO Price Receiving Transaction Processor Create Accounting for Receiving DR Inventory or Expense Account OR CIP CR Accrued Liability PRC: Interface Supplier Cost Parameter " Interface Receipt Accruals\' = YESSlide 22
Receive Goods/Confirm WorkSlide 23
Match Vendor Invoice to PO Vendor Invoice Match to PO - Variances are Interfaced to Project (New Expenditure Item) Validate Vendor Invoice Create Accounting DR Accrued Liability CR Accounts Payable DR/CR Price VarianceSlide 24
Match to POSlide 25
Update Projects Before Supplier Invoice for Match against PO After $5,000 Supplier Invoice Entered and Interfaced to Projects. Period to Date and Inception to Date Costs increment by the receipt sum and the Commitment is lessened by the receipt sum.Slide 26
Pay Vendor Invoice Pay Vendor Invoice - Discounts Taken are Interfaced to Project (New Expenditure Item) Create Accounting DR Accounts Payable DR Discounts Taken** CR Cash PRC: Interface Supplier Cost Parameter \'Interface Payment Discounts\' = YES **Discounts Taken ward upon AP setupSlide 27
P2P Flow How Capital Projects are redesigned by POsSlide 28
Capital Project to Assets FlowSlide 29
Asset Charges – AP to PA AP Distribution Line Charges Project and Asset Clearing Account: Contract Project Payables Interfaces the Cost to Oracle Assets for Capitalization and GL Accounting Payables Interfaces the Cost to Oracle Projects for Cost Collection to the Project and Reporting; No GL Impact Capital Project Payables Interfaces the Cost to Oracle Projects for Capitalization, GL Account Generation, Project Cost Collection and Reporting. Diary Entry Sources are Payables and Assets.Slide 30
Capital Project Create Capital Project Add Asset Definition including Asset Attributes at Project or Task Collect Costs against Project Distribute all Costs, Generate Cost Accounting Events, Create Accounting BEFORE Generating Asset Lines Summarize your Project Data (Project Performance or Project Summary) BEFORE Generating Asset LinesSlide 31
Project Asset SetupSlide 32
Project Task Asset LineSlide 33
Project Task Asset SetupSlide 34
Capital Project When Ready to Place the Asset in Service, Update the Asset Assignment with an Actual In Service Date (Current Period) Run the PRC: Generate Asset Lines procedure to Create Summary Asset Lines Adjust Lines, Associate Unassigned Lines Auto Accounting Rules Determine Journal Entry DR Asset CR CIPSlide 35
Update Asset ServiceSlide 36
PRC: Generate Asset Lines Creates the Asset Line(s)Slide 37
Capital Project Run the PRC: Interface Assets to Oracle Assets handle In Oracle Assets Review and Post Mass Additions Monthly: Run Depreciation Creates Accounting Interfaces and Posts Journal Entry to GLSlide 38
Interface Asset to FASlide 39
View Asset in FA after AdditionsSlide 40
Contract Project Create Contract Project Include Customer and Billing Setup Collect Costs Distribute Costs Generate Cost Accounting Events Create AccountingSlide 41
Customer Invoice FlowSlide 42
Revenue Recognition FlowSlide 43
Contract Project - Revenue Generate Draft Revenue in light of Distribution Rule of Project Release Generate Revenue Accounting Events Create Accounting Transfers and Posts Journal Entry to GL DR UBR CR RevenueSlide 44
Contract Project - Receivables Generate Draft Invoice in view of Distribution Rule of Project Approve and Release The following three stages can be joined in PRC: Submit Interface Streamline (Option XI) PRC: Interface Invoices to Receivables Autoinvoice Import PRC: Tieback Invoices from ReceivablesSlide 45
Thank You Becky Alvarez, Director E&C Practice Rysigo Technologies Corp. firstname.lastname@example.org Join us for a Project to Profit Q&A development and a drawing for a FREE Wii Console & Game Today (Wednesday) 3:00pm The Peabody Hotel Tower 2, Business Suite 21111Slide 46
Q&A Q & A Wendy Lamar: email@example.com Becky Alvarez: firstname.lastname@example.org
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