Fusion PPM Contracts & Billing: How to Recognize Monthly Revenue for a Yearly Invoice?

Summary:

Client requirement: One yearly invoice, monthly revenue recognition in Oracle Projects Contracts & Billing.

Content (please ensure you mask any confidential information):

Example:

• Contract amount: 12,000 (Jan–Dec)
• Billing Plan: One invoice for 12,000
• Revenue Plan: Recognize 1,000 per month

Accounting:

• At Invoice:
  • AR Dr 12,000
  • Deferred Revenue Cr 12,000
• Monthly Revenue Recognition (example January):
  • Deferred Revenue Dr 1,000
  • Revenue Cr 1,000

Question:
How can we achieve this in Oracle Projects Contracts & Billing?

Version (include the version you are using, if applicable):

25D

Code Snippet (add any code snippets that support your topic, if applicable):