Oracle Project Billing Overview

 

 

 

Oracle Project Billing enables enterprises to simplify customer invoicing, streamline corporate cash flow, and measure the profitability of contract projects. Using configurable accounting rules, Oracle Project Billing extends Oracle Project Costing functionality by processing actual costs, creating corresponding accounting entries for revenue accrual to satisfy corporate finance requirements, and creating customer invoices for project work. With Project Billing, project managers can review project invoices online and analyze project profitability, and accounting managers can see the corporate impact of project work.

The key features of Oracle Project Billing are:

  • Robust contract project creation functionality, enabling distinction between project types, revenue accrual and invoice methods, billing cycles, and contacts

  • Flexible agreements in multiple currencies with either hard or soft limits

  • Budgeting for revenue in multiple currencies, separately from cost

  • Organization-level and project-specific billing rate schedules and overrides

  • Versatile billing retention and tax functionality

  • Flexible revenue accrual calculation

  • Optional capability to create invoices using invoice methods differently from the way revenue is accrued

  • Optional capability, using Date-Effective Funds Consumption, to have revenue and invoice generation use the same logic to determine what funding to consume

  • Optional capability to apply receipts to an agreement as advance amounts, and reduce the balance on the advance when expenditure or event transactions are invoiced

  • Several powerful invoice management features, including holds, currency selection, and review/approve/release functionality

  • Robust adjustment functionality, including billable status change, selective recalculation and write-off management

  • Reports for unbilled receivables and unearned revenue

  • Integration between Oracle Project Billing and other Oracle applications