Accrual entries represent accounting entries for which provisional amounts are used because actual figures are not available. For example, accruals may represent entries that are passed at period end to book the expenses of the period because an actual bill is not received before period end date. Typically, accruals are reversed at the beginning of immediately following period or when actual figures are available to account for actual figures. Accruals are required in project costing when actual payroll amounts are not yet available and the project manager needs to estimate costs for an expected project, budget, and forecast, to generate customer invoices or to report the performance of existing projects.
The date through which you want to accrue revenue for a project. Oracle Projects picks up expenditure items that have an expenditure item date on or before this date, and events that have a completion date on or before this date, when accruing revenue. Exceptions to this rule are projects that use cost-to-cost revenue accrual; in this case, the accrue through date used is the PA Date of the expenditure item's cost distribution lines.
The costing of timecards or any actual worked hours entered through a timekeeping system based on the actual payroll amounts interfaced from Oracle Payroll or imported from a third party payroll system.
Recorded project costs. Examples include labor, expense report, usage, burden, and miscellaneous costs.
Activity on an administrative project such as personal holiday, sick day, or jury duty. Administrative assignments can also represent administrative work such as duties on an internal project. Such assignments are charged to the administrative project.
An amount of money prepaid in anticipation of receipt of goods, services, obligations or expenditures.
A contract with a customer that serves as the basis for work authorization. An agreement can represent a legally binding contract, such as a purchase order, or a verbal authorization. An agreement sets the terms of payment for invoices generated against the agreement, and affects whether there are limits to the amount of revenue you can accrue or bill against the agreement. An agreement can fund the work of one or more projects.
A classification of agreements. Typical agreement types include purchase order and service agreement.
describe the term “allocation”.
A method for distributing existing amounts between and within projects and tasks. The allocation feature uses existing project amounts to generate expenditure items for specified projects.
An attribute of an allocation rule that specifies how the rule collects and allocates the amounts in the source pool.
A set of attributes that describes how you want to allocate amounts in a source pool to specified target projects and tasks.
The results of the PRC: Generate Allocation Transactions process.
The starting point for a time interval. Available options include period-to-date, year-to-date, and project-to-date. Used to define budgetary controls for a project.
A display of enterprise information in a graphical and tabular format. The Analysis Workbook uses Discoverer to enable the user to modify the selection criteria, drill into dimension hierarchies, or link to other data elements.
The date on which an invoice is approved.
To store historical transaction data outside your database.
An object of value owned by a corporation or business. Assets are entered in Oracle Projects as non-labor resources.
The smallest unit of forecasting information for the assignment. In this entity, the smallest time unit is a day. Forecast items are created for each day of every provisional and confirmed assignment for every billable resource.
A column in a Trading Community Architecture (TCA) registry table. The attribute value is the value that is stored in the column. For example, party name is an attribute. The values of party names are stored in a column in the HZ_PARTIES table.
In Oracle Projects, a feature that determines the account coding for an accounting transaction based on the project, task, employee, and expenditure information.
A system-defined group of related AutoAccounting transactions. Each Oracle Projects process that uses AutoAccounting has at least one AutoAccounting function.