Billing Setup (Oracle Projects Help)


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Billing Setup

To enter billing setup information in the Billing Setup window, you must select and expand Billing Information from the list of options.

Revenue and Billing Information

When you enter revenue information for your project, you specify a revenue distribution rule for the revenue accrual method and the billing method for this project. When you enter billing information, you specify invoice formats, bill cycle days, and other invoicing information.

The project type determines which revenue distribution rule appears as the default value for this field, and which other revenue distribution rules you can choose from. Oracle Projects predefines the following revenue distribution rules:

Cost/Cost Accrue revenue and bill using the ratio of actual cost to budgeted cost (percent spent).

Cost/Event Accrue revenue using the ratio of actual cost to budgeted cost (percent spent), and bill based on events.

Cost/Work Accrue revenue using the ratio of actual cost to budgeted cost (percent spent), and bill as work occurs.

Event/Event Accrue revenue and bill based on events.

Event/Work Accrue revenue based on events, and bill as work occurs.

Work/Event Accrue revenue as work occurs, and bill based on events.

Work/Work Accrue revenue and bill as work occurs.

The revenue distribution rule you enter determines how revenue is calculated and how bills are generated for this project.

Note: If you want to accrue revenue or generate invoices based on percent complete, you must use the Event/Event, Event/Work, or Work/Event revenue distribution rule. See: Percent Complete Revenue Accrual and Invoice Generation.

Invoice Formats

You can enter invoice formats for this project's invoices. You should define values for these fields if you use as work occurs billing.

You can enter a format for grouping labor items on this project's labor invoice lines. You can accept the default format for this project type, or you can override this value and enter a preferred format.

You can enter a format for grouping non-labor items on this project's non-labor invoice lines. You can accept the default format for this project type, or you can override this value and enter a preferred format.

First Bill Offset Days

The number of days that elapse between the project start date and the date of the project's first invoice. You can accept the default bill offset days, or override this value and enter a different number.

Billing Cycle

The billing cycle is the user-defined code that determines the next billing date for this project. You can accept the default cycle, or you can override this value and enter a different code. See: Billing Cycle.

Next Billing Date displays the next billing date on which the project is eligible for billing. The Next Billing Date is updated each time draft invoices for the project are released, cancelled, or deleted.

Retention

You can enter a retention invoice format and a retention percentage for this project.

Enter a format for this project's retention invoice line description. If you do not use retention for this project, leave this field blank.

When you are ready to bill the retained amount as an event, clear this field.

Enter the percentage amount that you want to retain from invoices. If you do not use retention for this project, leave this field blank.