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Identify the four different levels where transaction controls are defined.
You can configure transaction controls by the following:
(A) Expenditure Category
(C) Employee
(E) Expenditure Type
Non-Labor Resource
What type of project will a company require to use Organization Forecasting?
Note:
* Compute Forecast Labor Revenue
This process calculates the potential revenue of labor expenditure items based on established bill rates and markups. The expenditure items that the process selects are billable labor expenditure items charged to contract projects that have not yet been processed by the Generate Draft Revenue process. The items do not have to be approved to be processed for forecast revenue.
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.
You implement Project Manufacturing along with Project Costing for manufacturing company. You define various expenditure types in which few are specific to Project Manufacturing. Identify the three setups that are required to have an expenditure type specific to Project Manufacturing.
B: Work In Process - This expenditure type class is used for Project Manufacturing WIP transactions that are interfaced from Manufacturing to Oracle Projects. You can also use this expenditure type class when you import other manufacturing costs via Transaction Import or when you enter transactions via pre-approved batch entry.
D: Inventory - This expenditure type class is used for the following transactions:
Project Manufacturing transactions that are interfaced from Manufacturing or Inventory to Oracle Projects.
Oracle Inventory Issues and Receipts that are interfaced from Oracle Inventory to Oracle Projects in a manufacturing or non-manufacturing installation.
You can also use this expenditure type class when you import other manufacturing costs via Transaction Import or when you enter transactions via pre-approved batch entry.
Note:
* If the Rate Required option for the selected expenditure type is enabled in Oracle Projects, then you must enter a quantity. When you interface the invoice distribution to Oracle Projects, Oracle Projects copies the quantity and amount to the expenditure item and calculates the rate. If Rate Required option for the selected expenditure type is disabled, then the quantity of the expenditure item is set to the amount you enter in Oracle Payables.
An organization posts project costs to the balance sheet as they are incurred. Each month they recognize project revenue on each project. Select the option that ensures that costs are credited from the balance sheet and debited to profit and loss as revenue is recognized.
