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Changing Revenue Plan from Amount Based to Rate Based

in Project Management 6 comments

Summary:

Several contracts were incorrectly setup using the Amount Based revenue method, and it was later determined that these contracts should be using the Rate Based revenue method. The Oracle documentation, Considerations for Changing a Revenue Method, does not discuss this change in revenue methods. In two DEV environments, we tested changing the revenue plan from Amount Based to Rate Based - (1) using the start date of the contract as the Amendment Effective Date and (2) using the start of the fiscal year as the Amendment Effective Date. After updating the contracts and approving the amendments, the Generate Revenue and Create Accounting for Projects processes were run. The desired functionality is that the revenue amount would be updated retroactively (either back to the start date of the contract or the start date

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