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How to Capture Advance (Down Payment) Invoices in Oracle Fusion PPM Contracts?

in Project Management 1 comment

Summary:

We are currently implementing Oracle Fusion Project Contracts and have a use case where the customer pays an advance (down payment) before project work begins. I do know there is no existing functionalty and there are ideas created for this purpose.

Could someone please advise on the best practice/ Workarounds to handle this in Oracle Fusion PPM Contracts?

Specifically:

  • How should the advance invoice be set up in the project contract?
  • What billing event type should be used for the down payment?
  • How can we ensure the advance is properly accounted and later applied/adjusted against future milestone or progress billing?
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