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Revenue Category. Enter the revenue category that you want to associate with this event type.
Class. Enter a classification for this event type to determine how an event affects the revenue and billing for a particular project. Oracle Projects provides you with the following classifications:
Attention: The Scheduled Payment classification may be used only if the project uses Event based billing.
Classification | Revenue Effect | Billing Effect |
---|---|---|
Automatic | Depends on billing extension definition | Depends on billing extension definition |
Deferred Revenue | No effect | Bill for amount of event |
Invoice Reduction | No effect | Reduce a bill by amount of event |
Manual | Accrue amount of event | Bill for amount of event |
Scheduled Payment | No effect | Bill for amount of event, FIFO |
Write-Off | Reduce by amount of event | No effect |
Write-On | Accrue amount of event | Bill for amount of event |
Table 1 - 82. Event Type Classifications (Page 1 of 1) |
Fremont Corporation uses all of the event type classifications to account for a number of situations. Fremont assumes most event revenue is from labor, and they want to track revenue from these event types as variations to labor revenue: Cost-to-Cost revenue, Bonus, and Write-Off. | |||
Event Name | Description | Classification | Revenue Category |
Bonus | Performance bonus | Write-On | Labor |
Cost-to-Cost Revenue | Cost-to-cost revenue | Automatic | Labor |
Fee | Fee earned | Automatic | Fee |
Invoice Reduction | Invoice reduction | Invoice Reduction | Payment |
Manual | Manual event | Manual | Fee |
Milestone | Progress payment | Scheduled Payment | Payment |
Payment | Scheduled payment | Scheduled Payment | Payment |
Prebill | Advance payment | Deferred Revenue | Payment |
Retainer | Retainer payment | Deferred Revenue | Payment |
Surcharge | Surcharge | Automatic | Fee |
Write-Off | Unearned revenue | Write-Off | Labor |
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