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Percent Complete Revenue Recognition for Projects

edited Nov 28, 2018 6:23PM in Project Management 13 comments

Summary

Percent Complete Revenue Recognition for Projects

Content

It appears there is functionality to automatically calculate revenue to be recognized based on percent completion. https://docs.oracle.com/en/cloud/saas/project-portfolio-management/18c/oapjb/manage-project-contract-revenue.html#OAPJB155908 ?

Curious if anyone here has implemented this. If so will like to know whether the below is supported.

E.g Total Contract value = 1,000,000 for Project 123

Budget for project 123 = $750,000

Project runs for 3 months and % completion is as below:

Month1 34% --> How does Oracle derive this number? Based on invoices for this project?

Month 2 33%

Month 3 33%

 

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