Prevent data discrepancies between Project Contracts and Revenue Management

Prevent data discrepancies across Project Contracts and Revenue Management by extracting all simultaneously generated project contract revenue distributions skipped during the previous extract, and by recording satisfaction percentage reversals and rebookings in the appropriate accounting period.

Previously, when the Generate Revenue and Extract Revenue Basis Data from Oracle Fusion Applications processes were run simultaneously, it was possible for recently generated revenue distributions to miss the current extraction process and be considered outside the date range for all subsequent extractions. These revenue distributions would never get extracted to Revenue Management as satisfaction events. Also previously, when project contract line amounts were amended in the accounting period following the current period, the resulting satisfaction percent reversal and rebooking events could have caused revenue in Revenue Management to get adjusted in that subsequent period. This may have differed from the accounting period of the original satisfaction being reversed and rebooked, causing unwanted period fluctuations in revenue.

Now, you can extract revenue distributions missed in the previous extract due to simultaneous processing and import them into Revenue Management as satisfaction events.  For satisfaction percent reversal and rebooking billing events created because of project contract line amount amendments, you can now choose to derive the event completion date from either the amendment effective date or the last day of the earliest open or pending close accounting period for the projects subledger. The event completion date flows through to the project contract revenue distribution accounting date, which then gets extracted to the satisfaction event date in Revenue Management, and in turn derives the revenue accounting date in Revenue Management. To help get the event completion date correct, you can now enter any amendment effective date between the contract start date and today’s date, rather than just the contract start date or today’s date. Lastly, to allow you to amend the contract line amount to a value below the revenue recognized to date, you can override the severity to warning for the project contract amendment validation that checks if inception-to-date revenue is greater than the amended contract line amount.

The business benefit is more accurate and consistent revenue reporting by aligning recognized revenue amounts and accounting periods between Project Contracts and Revenue Management.

Steps to enable and configure

To enable this feature you need to log a Service Request (SR).

To enable this feature, log a service request with the Global Support team.

Tips and considerations

• Choose to set the satisfaction date for satisfaction percent reversals and rebookings to the last day of the earliest open or pending close accounting period for the project subledger, when you don't recognize revenue in the next period until the current period is closed and when you may need the amendment effective date to be in the next period to avoid creating unwanted credit memos.
• Choose to set the project contract line amount < ITD revenue QA validation severity to warning, when you sometimes need to adjust project contract revenue after amending the project contract, but before the next extract is run.

Key resources

• Automatic Adjustment of Total Satisfaction Percentage in Revenue Management for a Contract Line Amount Amendment.

Access requirements

No new access requirements.