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A project is undertaken for a customer where all labor costs are non-billable, and Non-Labor costs are billable if the accumulated costs incurred are greater than $10k. How can Oracle Projects be implemented to support this?
Your customer has set up a contract project with a distribution rule Work/Work. Identify three setup options to:
1. Charge labor transactions revenue and all other nonlabor transactions revenue to separate accounts
2. Generate separate invoice line amounts for labor and nonlabor transactions
Note:
Revenue and Billing Information
When you enter revenue information for your project, you specify a revenue distribution rule for the revenue accrual method and the billing method for this project. When you enter billing information, you specify invoice formats, bill cycle days, and other invoicing information.
The project type determines which revenue distribution rule appears as the default value for this field, and which other revenue distribution rules you can choose from. Oracle Projects predefines the following revenue distribution rules:
Cost/Cost Accrue revenue and bill using the ratio of actual cost to budgeted cost (percent spent).
Cost/Event Accrue revenue using the ratio of actual cost to budgeted cost (percent spent), and bill based on events.
Cost/Work Accrue revenue using the ratio of actual cost to budgeted cost (percent spent), and bill as work occurs.
Event/Event Accrue revenue and bill based on events.
Event/Work Accrue revenue based on events, and bill as work occurs.
Work/Event Accrue revenue as work occurs, and bill based on events.
Work/Work Accrue revenue and bill as work occurs.
An employee has entered eight hours of billable time on a project. You want only three hours to be billable and five hours to be nonbillable. What is the adjustment action that should be applied on this expenditure item?
You can split an item into two items so that you can process the two resulting split items differently.
For example, you may have an item for 10 hours, of which you want 6 hours to be billable and 4 hours to be non-billable. You would split the item of 10 hours into two items of 6 hours and 4 hours, marking the 6 hours to be billable and 4 hours to be non-billable.
The resulting split items are charged to the same project and task as the original item.
Identify two ways to ensure that correct class category codes are recorded against relevant projects.
B: To define class categories and class codes:
1. Navigate to the Class Categories and Codes window.
2. Enter a unique Class Category name and a Description.
3. Specify whether the class category is mandatory for every project you define.
Enable if all projects must have a code assigned to this class category. Do not enable if this class category is optional. If you do not enable this option, you cannot use this class category in your AutoAccounting rules.
4. Specify whether you want to use the class category in your AutoAccounting rules.
Suggestion: For each project, you can use only one code with one class category for use with AutoAccounting rules. If an AutoAccounting category already exists within a particular date range, assign an end date to the existing AutoAccounting category and then create a new one.
5. Specify whether you want to allow entry of only one class code with this class category for a project.
Note: Defining multiple class codes for one category for a project may affect reporting by class category; defining multiple class codes may cause your numbers to be included more than once.
6. Enter the Name, Description, and Effective Dates for each class code.
7. Save your work.
C: As part of a project template definition setup, you can choose which Quick Entry fields you want to define. Oracle Projects prompts you to enter information in these Quick Entry fields when you create a new project from a template. Choose Quick Entry fields for project information you want to enter (instead of accepting the template default) each time you create a project.
Order: Enter a number to indicate the sequence in which you want the Quick Entry fields to appear.
Field name: Choose the fields you want to appear in the Quick Entry window when you create a new project.
Specification: You enter a specification for the following field names:
Key Member: Select the project role type to use when creating the key member
Classification: Select the class category to use when creating the classification
Customer Name: Select the customer relationship to use when creating the project customer
Prompt: You can enter a field name that is different from the predefined field name to display when you use Quick Entry.
Required: Choose whether you want to require entry for the Quick Entry field.
Which types of rate schedules should be defined to allow rates to be used to generate financial plans?
Defining Rate Schedules
You can define four types of rate schedules. The following table lists the four types of rate schedules and indicates how you can use each rate schedule type in Oracle Projects.
Note:
* If you select the option to use planning rates, then you can choose the cost and revenue rate schedules to use to generate amounts. If you do not select the option to use planning rates, then Oracle Projects automatically chooses the rate schedules that are used to calculate actual cost and revenue (bill) amounts.
* You must specify rate schedules for resource class. When Oracle Projects is unable to determine the actual or planning rates to apply in a calculation, Oracle Projects automatically applies rates from the default rate schedules you specify for resource class.
