Pass the Oracle E-Business Suite Project Management 1z0-511 Questions and answers with CertsForce

Oracle Projects uses predefined transaction sources to import project allocations and capitalized interest transactions that it generates internally.

Note:

*Allow Revenue Budget Entry. Indicates if you allow entry of revenue budget types. You may choose to not allow entry of revenue budgets for indirect or capital projects. You must enter a revenue budget for a contract project before it can accrue revenue and be billed.

Note:

*Events: To be included on an invoice, an event must meet the following criteria:

/Event must not be already invoiced

/ (C)Event completion date must be on or before the bill through date

/Event must be revenue distributed (for write-on revenue events only)

/If the Date-Effective Funds Consumption option is selected, then the event date must be within the agreement start and expiration dates

*Billing Events: Billing events are events for which there is no associated revenue. Because billing events have not accrued revenue against an agreement, a billing event can be billed against any agreement that has sufficient funding to cover the entire amount of the event (unless an agreement was specified on the event).

If you enable the Project Task Owning Organization classification, you must also specify the additional organization information for the classification as follows:

Place your cursor on the Project Task Owning Organization classification.

Select the Others button.

In the Additional Organization Information window, place your cursor in the Project Type Class Information field.

In the Project Type Class Information window, enter information for the following fields:

Allow Entry Of Indirect Projects: Select Yes from if you want this organization to own indirect projects.

Allow Entry of Capital Projects: Select Yes from if you want this organization to own capital projects.

Allow Entry of Contract Projects: You must select Yes.

Note: You must select Yes, even though you cannot create contract projects in Oracle Grants Accounting. Oracle Grants Accounting uses contract projects to process revenue and invoices for awards. Oracle Grants Accounting uses an underlying award project to process revenue and invoices. The award project is a contract class project.

In the Project Type Class Information window, select the OK button.

In the Additional Organization Information window, select the OK button.

In the Forms dialog box that asks you if you want to save the changes you have made, select the Yes button to save your work.

Structure Integration Setup

If you enable both a workplan structure and a financial structure for your project or project template, you can decide whether or not they are integrated, and if so, to what degree. You do this by choosing one of the following options on the Structures setup page:

*Shared Structures: Enables you to generate a financial structure with a task hierarchy that is fully shared by the workplan structure task hierarchy. Workplan and financial structures are fully shared by default.

*Partially Shared Structures: Enables you to generate a financial structure that is partially shared by the workplan structure hierarchy.

*Non-Shared: Task-Based Mapping: Enables you to map individual workplan structure tasks to individual financial structure tasks.

*Non-Shared: No Mapping: Choose this if you do not want to integrate your project workplan and financial structures in any way.

B:Provider and Receiver Controls Setup

For each provider operating unit or receiver operating unit involved in the cross charge, the Provider/Receiver Controls window Provider Controls and Receiver Controls tabs specify:

The cross charge method to use to process intercompany cross charges and to override default cross charge method for inter-operating unit cross charges.

Attributes required for the provider operating unit to process intercompany billing to each receiver operating unit. This includes the Intercompany Billing Project and Invoice Group.

Attributes required for the receiver operating unit to process intercompany billing from each provider operating unit. This includes the supplier site, expenditure type and expenditure organization.

* (C)Intercompany Billing Accounting

Companies choose the intercompany billing method largely due to legal and statutory requirements. When you use this method, Oracle Projects generates physical invoices and corresponding accounting entries at legal transfer prices between the internal seller(provider) and buyer (receiver) organizations when they cross a legal entity boundary or operating units.

* (D)Overview of Cross Charge

When projects share resources within an enterprise, it is common to see those resources shared across organization and country boundaries. Further, project managers may also divide the work into multiple projects for easier execution and management. The legal, statutory, or managerial accounting requirements of such projects often present complex operational control, billing, and accounting challenges.

Oracle Projects enables companies to meet these challenges by providing timely information for effective project management. Project managers can easily view the current total costs of the project, while customers receive bills as costs are incurred, regardless of who performs the work or where it is performed.

Note:

*Oracle Projects processes tasks based on their position in the structure. The three distinct positions are:

Top Task: A task whose parent is the project

Mid Task: A task that is not a top task or a lowest task

Lowest Task: A task that is at the bottom of the structure, without any child tasks

*You can configure transaction controls by the following:

Expenditure Category

Employee

Expenditure Type

Non-Labor Resource

Note:

*Oracle Projects fully integrates with Oracle Human Resources to keep track of employees and information relevant to them, such as bill rates and mailing address.

Pre-approved expenditures are timecards, expense reports(D), usage logs, miscellaneous transactions(E), burden transactions(A), inventory transactions, and work in process transactions usually completed on paper and approved by a supervisor. You enter pre-approvedexpenditures into Oracle Projects in batch mode, generally on a weekly basis. After you enter the batches into the system, you submit them for review and then release them for cost distribution.