Accounting Date Filter for Inception to Date Actual Cost Configurator Sources in Project Currency

Configure the Accounting Date filter for the Inception to Date Actual Cost Revenue Configurator Sources in Project Currency to enable the calculation of the Inception to Date Actual Cost based on the project cost distribution accounting date. Project Application Administrators can configure this option to calculate the Inception to Date Actual Cost amount in project currency for the current accounting period based on revenue to date. This option is applicable to requirements for Percent Spent revenue recognition with project cost accrual transactions or with time card or expense report cost transactions reported in the next open periods.

The business benefit of this feature is the ability to calculate revenue accurately based on the actual project cost transactions for the current accounting period using the new accounting date filter applied on Inception-to date labor or non-labor burdened cost sources in project currency.

Steps to Enable

You don't need to do anything to enable this feature.

Tips And Considerations

The following example formula illustrates how to measure the percent spent while calculating project revenue and creating revenue-applicable billing events at the contract line or associated project and task level:

(((Calculation Level Labor Burdened Cost in Project Currency - ITD + Calculation Level Nonlabor Burdened Cost in Project Currency - ITD) / Calculation Level Planned Burdened Cost in Project Currency) * Associated Project Funding Amount in Contract Currency) - Calculation Level Event Amount in Contract Currency - ITD

Consider using filters to include or exclude certain costs or planned amounts from the above formula. The following image illustrates how such a project process configurator could be defined, including an Accounting Date filter on the Calculation Level Labor Burdened Cost in Project Currency - ITD and Calculation Level Nonlabor Burdened Cost in Project Currency – ITD sources such that it only includes cost transactions that are posted to the general ledger in the current accounting period regardless of the transaction date.

Create a Project Process Configurator

Sample Cost Transactions

Revenue To Date	ITD Actual Cost in Project Currency with Accounting Date filter	ITD Actual Cost in Project Currency without Accounting Date filter
30/11/2023	1900.40 USD	400.40 USD
31/12/2023	400.40 USD	400.40 USD

NOTE: ITD Actual Cost in Project Currency without the Accounting Date filter is calculated based on Expenditure Item Date.

Key Resources

• Based on Idea 669498 from the Project Management Idea Labs on Oracle Cloud Customer Connect.

Access Requirements

No new access requirements.