Revenue and Billing Management

Managing revenue and billing for government contracts is similar to that used for standard contracts. See PeopleSoft Contracts: Understanding Revenue Management. PeopleSoft Contracts enables you to capture billing and revenue information for your government contracts and allocate that information across contract lines. This includes defining accounting distribution data for your contract lines for billing and revenue processing purposes, assigning the contract lines to billing and revenue recognition plans, managing when the conditions for generating invoices and revenue accounting entries have been met, and generating invoices and revenue journal entries for your contract lines for direct and indirect costs, fees, progress payments, and so on.

Managing billing and revenue for your contract lines consists of monitoring and updating billing and revenue plan statuses, event statuses where applicable, processing invoices and journal entries, and making any necessary adjustments to billing and revenue that has been processed.