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Percent Complete Revenue Recognition for Projects

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edited Nov 28, 2018 6:23PM in Project Management 1 comment

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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