One of your ideas has been delivered from your suggestion.Service Excellence Continuing Investments for Billing and Revenue Management

In this update, improvements are available in the following areas:

  • Deletion of Credit Memos for LOC-enabled Awards: Delete a credit memo or credit invoice in draft, approved, or approval rejected status for LOC-enabled Awards using the Delete Invoices ESS process. This flexibility reduces the manual work for billing specialists to review and process an unwanted credit memo or credit invoice to Receivables and generate a rebill standard invoice. Based on Idea 646283 from the Project Management Idea Labs on Oracle Cloud Customer Connect.

  • Cancel Project Contract Invoice REST API: You can perform the crediting action of canceling invoices using a REST API on single or multiple standard project contract invoices. The cancel invoice crediting action using the REST API is allowed on original standard invoices in Released, Transferred, or Accepted status. Also, the project contract has to be in Active, Expired, or Under-amendment status with versioning.

When the cancel crediting action is performed on an original standard invoice using REST API, a credit invoice is created, which is the reversal of the original invoice or the reversal of the remaining amount on the original invoice. Based on Idea 730325 from the Project Management Idea Labs on Oracle Cloud Customer Connect.

  • Flexible Billing Event Adjustment Processing: Gain more control over billing event adjustment processing by allowing the update of event types and billing events. The additional flexibility eliminates the need to define new event types and change corresponding business processes, improving operational efficiency. This flexibility also enables the use of existing events to reflect the corrected bill amounts after a crediting action.

The project application administrator can update the allow adjustments option on existing event types with billing events entered, and the event type is not associated with a project process configurator or not a migration event type. When the allow adjustments option is unchecked on an existing event type, the user is not allowed to perform adjustments such as hold invoice or revenue indefinitely, hold invoice once, or update the event amount or description on the fully invoiced or revenue-recognized billing events entered for that event type. Also, with the allow adjustments option unchecked on the event type, retroactive project contract amendment will not mark the billed transactions for adjustment.

The users can perform event adjustments such as updating the event amount or description or performing hold invoice indefinitely or once on fully credited billing events in un-invoiced status entered for an invoice event type with the allow adjustments option unchecked after the cancel credit invoice is processed to release status.

  • Receivables Transaction Type in the Project Contract: The contract administrator can only select the Receivables transaction types that don't have a subclass, in the transaction type list of values on the Billing tab of the project contract header.

When a Receivables transaction type with the transaction subclass as Prepayment is used for award contracts, by selecting it either in the transaction type attribute on the business unit implementation options or during submit award, the user will receive the invalid transaction type exception during award update. For award contracts, users must select only the Receivables transaction types that don't have a transaction subclass to successfully transfer the project contract invoice to Receivables.

Support of Prepayments for external and award project contracts is planned in an upcoming release.

  • Improvements to Real-Time WIP Reporting: Improved reporting capability through the addition of new attributes and measures to the bill transactions subject area in OTBI, such as a normalized attribute for unit price. Corresponding additions to the bill transactions REST API, such as billing status and WIP amount, will both improve reporting and integration capabilities for customers, as well as support the delivery of the upcoming Redwood-based user experience for managing bill transactions. Specific changes include:
    • The Grants Administrator, Grants Accountant, Grants Department Administrator, and Principal Investigator roles now have access to the Project Billing - Bill Transactions Real Time subject area in OTBI, along with data access commensurate with each role. This is in addition to existing access for the Project Managers and Project Billing Specialist roles.
    • The Awards folder and subfolders have been added to the Project Billing - Bill Transactions Real Time subject area in OTBI.
    • The following attributes and measures have been added to the Project Billing - Bill Transactions Real Time subject area in OTBI:
      • Unit Price in Transaction Currency
      • Unit Price in Invoice Currency
      • Unit Price in Contract Currency
      • Derived Invoice Amount in Transaction Currency
      • Derived Invoice Amount in Invoice Currency
      • Derived Invoice Amount in Contract Currency
      • Contribution Invoice Amount in Transaction Currency
      • Contribution Invoice Amount in Invoice Currency
      • Contribution Invoice Amount in Contract Currency
    • The following attributes and measures have been moved within the Project Billing - Bill Transactions Real Time subject area in OTBI to improve discoverability (existing analyses are not impacted):
      • Billing Status
        • Moved from folder: Bill Transactions > Invoice Processing
        • Moved to folder: Bill Transactions
      • Amount to Bill in Transaction Currency
        • Moved from folder: Measures - Bill Transaction > Invoice Measures > Invoice Measures in Transaction Currency
        • Moved to folder: Measures - Bill Transaction > Invoice Measures
      • Amount to Bill in Invoice Currency
        • Moved from folder: Measures - Bill Transaction > Invoice Measures > Invoice Measures in Invoice Currency
        • Moved to folder: Measures - Bill Transaction > Invoice Measures
      • Amount to Bill in Contract Currency
        • Moved from folder: Measures - Bill Transaction > Invoice Measures > Invoice Measures in Contract Currency
        • Moved to folder: Measures - Bill Transaction > Invoice Measures
    • The following attributes and measures have been added to the Bill Transactions REST API:
      • Billing Status Code
      • Billing Status
      • Bill-to Customer
      • Applicable Process Code
      • Unit Price in Contract Currency
      • Unit Price in Invoice Currency
      • Unit Price in Transaction Currency
      • Amount to Bill in Transaction Currency
      • Amount to Bill in Invoice Currency
      • Amount to Bill in Contract Currency
    • The predefined values for bill transaction statuses have been updated for consistency. You’ll need to update filters in any existing OTBI analyses to uptake the new values:
      • ‘Non-billable’ has become ‘Nonbillable’
      • ‘On Hold’ has become ‘On hold’
      • ‘Action Pending’ has become ‘Action pending’
      • ‘In Progress’ has become ‘In progress’
      • ‘Insufficient Funds’ has become ‘Insufficient funds’

Business benefits include:

  • Improved operating efficiency for LOC-enabled awards and billing event adjustment processing.
  • Expanded OTBI reporting to track and manage WIP billing.
  • For Project Invoice Cancellation with a REST API:
    • System integrators, administrators, and developers can create new or extend existing integration and automation solutions for crediting action of canceling invoices.
    • Leverage complementary offerings such as the Oracle Visual Builder Add-in for Excel to create user-friendly workbooks to perform the cancel project contract invoice crediting action.

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