Percent Complete Revenue Recognition for Projects
SummaryPercent Complete Revenue Recognition for Projects
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%