Process Contract Revenue

This example demonstrates the steps involved with generating revenue, reviewing exceptions, summary revenue, and billing controls.

The following table summarizes key decisions for this scenario.

Decisions to Consider	In This Example
Which business unit does the contract belong to?	Vision Operations
Is this an external contract, intercompany contract, or interproject contract?	External
How frequently is revenue recognized?	Monthly
Generate all revenue for a contract, or only the items previously recognized?	All
Generate and view a summary of ineligible data?	Yes
Is this a multicurrency contract?	No. The contract currency and the ledger currency of the contract business unit are the same.

Summary of the Tasks

1. Generate revenue for a contract.

2. Review billing transaction exceptions.

3. Review summary revenue and billing controls.

Prerequisites

1. Create a project.

2. Create an external contract with one contract line, and associate the project to the contract line. Submit the contract for approval.

3. Approve the contract.

4. Create a financial plan, assign resources, and create the budget version.

5. Execute the project.

6. Create and process cost transactions. The transaction dates must be within the active date range of your contract.

Generate Revenue for a Contract

1. On the Contract Revenue Overview page, click the Generate Revenue task to open the Generate Revenue process page.

2. Click Parameters.

3. Enter the information as shown in this table. Use the default values for all other parameter fields.

   Field	Value
   Business Unit	Vision Operations
   From Date	Enter the first day of the month that contains your project transactions.
   To Date	Enter the last day of the month that contains your project transactions.
   Billing Type	External
   From Contract Number	Enter your contract number.
   To Contract Number	Enter your contract number.
   Pending Adjustments Only	No
   Generate Ineligible Data	Summary

4. Click Submit.

5. Click Close.

Review Billing Transaction Exceptions

Check for revenue-specific billing transaction exceptions. One approach is to search for exceptions by parameters such as contract name, project name, or message. Another approach is to search for and review billing transaction exceptions from the Overview page.

1. On the Overview page, click the Manage Billing Transaction Exceptions task.

2. Enter the search attributes as described in the following table.

   Field	Value
   Business Unit	Vision Operations
   Billing Type	External

3. Click Search. Expenditure items or events that encountered an exception during revenue or invoice generation are returned in the search results.

4. Review the Severity and Messages for the exceptions.

5. Click Done.

6. On the Overview page, enter the search parameters as described in the following table.

   Field	Value
   Business Unit	Vision Operations
   Billing Type	External

7. Click the Search icon.

8. In the Billing Transaction Exceptions region, click Number of Billing Transaction Exceptions for any exception.

9. Review the exception details in the Exceptions by Transaction Type region.

10. Click Done.

Review Summary Revenue and Billing Controls

Review summary revenue for the contract, contract line, and associated project. You can check the billing controls to review the consumed and available funds.

1. On the Overview page, click the Manage Summary Revenue task.

2. Enter the search parameters as described in the following table.

   Field	Value
   Business Unit	Vision Operations
   Interval	Inception to Date
   Accounting Period	Enter the accounting period for your transactions.
   Billing Type	External
   Contract Number	Enter your contract number.

3. Click Search.

4. In the Contract Number: Summary region, click Contract Lines.

5. Review the summary for the contract line associated with your revenue transactions.

6. Click Associated Projects.

7. Review the summary for the project associated with your revenue transactions.

8. Click Billing Controls.

9. Review the amounts for the Soft Limit, Hard Limit, and Revenue Funds Available.

10. Click Done.