Oracle Projects Fundamentals(Costing and Billing)

Oracle Projects consists of the following products:

          • Oracle Project Costing

          • Oracle Project Billing

          • Oracle Project Resource Management

          • Oracle Project Management

          • Oracle Project Collaboration

          • Oracle Daily Business Intelligence for Projects

          • Oracle Project Portfolio Analysis

The following sections provide detail information on each of these products.

Oracle Project Costing:         

          Oracle Project Costing provides an integrated cost management solution for all projects and activities within an enterprise. With Project Costing you can manage costs across currency and organizational boundaries. Project Costing also acts as a central repository of project plans and transactions, processes project costs, and creates corresponding accounting entries to satisfy corporate finance requirements. 

          Project Costing gives operations managers and finance managers complete and timely access to project performance information and the resulting accounting impacts thereof. It also empowers line managers with timely, detailed cost information to monitor project performance in a productivity-enhancing format, and enables financial managers to track the total cost of running the business.

The key features of Oracle Project Costing are:

          • Versatile template-driven project definition

          • Multiple currency financial plan and budget creation

          • Diverse accrual and expenditure capture

          • Robust expenditure control, and collection functionality                                                                      

          • Powerful burdening functionality

          • Rule-based general ledger account functionality

          • Comprehensive reporting functionality with drill down capability

          • Capable asset creation and CIP cost collection

         

          Oracle Project Costing can be extended with Oracle Project Billing (see below) and is part of the Oracle Enterprise Project Management Suite, an integrated suite of internet applications designed to transform businesses to e-businesses.

For more information about Oracle Project Costing, see the Oracle Project Costing User Guide.

Oracle Project Billing:

         

          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:

          •  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

          • Reports for unbilled receivables and unearned revenue

          • Integration between Oracle Project Billing and other Oracle applications

For more information about Oracle Project Billing, see the Oracle Project Billing User Guide.