Advanced Project Contract Prepayment Billing

Identify a project contract as prepay applicable based on a prepayment transaction type attribute on the contract header and transfer the prepayment transaction type to Receivables for a prepayment request invoice. Track the status and unapplied balances of prepayments by various dimensions. Billing Specialists can see and manage project contract prepayments more easily, quickly, and holistically.

Prepayment Transaction Type on Project Contract

The contract administrator can enter a prepayment transaction type on the project contract header. For further details on the attribute, refer to the feature 'Support Prepayment Transaction Type in Project Contracts' in the Sales Force Automation product and Enterprise Contracts module.

Prepayment invoices for the project contract are processed to Receivables using the prepayment transaction type setup on the project contract. When the prepayment transaction type on the project contract is not specified, the Prepayment invoices for the project contract are processed to Receivables using the predefined prepayment transaction type ORA_PA_Prepayment. Any credit invoices arising from canceling a prepayment invoice are processed to Receivables using the credit memo type associated with the prepayment transaction type.

Prepayment Billing Events Using FBDI

Billing Specialists can enter prepayment request and prepayment application billing events for a project contract using the Billing Events File-Based Data Import. The business validation errors related to the entry of the prepayment activity for a project contract are displayed in the Billing Event Upload Error Report spreadsheet.

Prepayment Measures on the Financial Summary

The prepayment measures, such as request amount, applied amount, and balance amount, are displayed for a contract and contract lines on the contract financial summary page, as illustrated below. These measures can be added to the table using the View Columns option.

Prepayment Measures on the Associated Projects

The prepayment measures, such as request amount, applied amount, and balance amount, are also displayed in the associated projects section of the project contract line, as illustrated below. These measures can be added to the table using the View Columns option.

Prepayment Measures on the Invoices Section

The measures below are displayed in the Invoices section on the contract financial summary page, as illustrated below. The Invoice Type measure is displayed on the table by default, the other measures can be added to the table using the View Columns option. The prepayment measures at the invoice level assist the user in reconciling the prepayment amounts displayed at the contract and contract line levels.

• Invoice Type
• Invoice Currency
• Contract Currency
• Invoice Amount in Invoice Currency
• Tax Amount in Invoice Currency
• Charges Amount in Invoice Currency
• Prepayment Request Amount in Invoice Currency
• Prepayment Applied Amount in Invoice Currency
• Prepayment Balance Amount in Invoice Currency
• Paid Amount in Invoice Currency
• Unpaid Amount in Invoice Currency
• Canceled

Prepayment Measures on Manage Invoices page

Billing specialists can review the prepayment measures at the invoice level using the Manage Invoices or Invoice Details pages for a project contract. The below measures can be added to the search results pane of the Manage Invoices page using View Columns option.

• Charges Amount in Invoice Currency
• Prepayment Request Amount in Invoice Currency
• Prepayment Applied Amount in Invoice Currency
• Prepayment Balance Amount in Invoice Currency
• Canceled

Invoice Details for a Prepayment Invoice

Invoice Details for a Standard Invoice with Prepayments Applied

The Paid Amount and Unpaid Amount measures are displayed on the Invoice Details page in the Show More view for the invoice types below.

• Prepayment Invoice
• Standard Invoice with Prepayments Applied
• Standard Invoice without Prepayments Applied

Prepayment Measures on Manage Events Page

The billing specialist can review the prepayment measures for prepayment request billing events entered for a project contract using the Manage Events page, as illustrated below. The below measures can be added to the search results pane of the Manage Events page using View Columns option.

• Prepayment Request Amount in Invoice Currency
• Prepayment Applied Amount in Invoice Currency
• Prepayment Balance Amount in Invoice Currency

The business benefits include:

• Prepayment measures displayed on various pages assist users in managing project contract prepayments more effectively.

• The Billing Events File-Based Data Import can be leveraged for high-volume uploads of project contract prepayment activity.

Steps to Enable

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

Tips And Considerations

When setting up a new Prepayment Transaction Type, ensure the below options are correctly defined.

• The Transaction Class is Invoice, and the Subclass is Prepayment.
• The Open Receivable and Post to GL options are enabled.
• The Credit Memo Type of Transaction Class Credit Memo is associated with the Prepayment Transaction Type.
• The Prepayment Transaction Type is active as of today's date or the invoice date on the Prepayment Invoices.

Below is an illustration of a non-predefined Prepayment Transaction Type.

Prepayment Transaction Type

Key Resources

• Refer to the Project Contract Prepayment Billing 24D feature.

Access Requirements

No new access requirements.