what is best practice Monthly revenue event based on contract amount

Summary:

A single annual invoice is issued for a 12,000 contract(Jan–Dec), while revenue is recognized monthly at 1,000. The billing planinvolves one invoice for 12,000, and the revenue plan spreads recognitionevenly each month. Accounting at invoice is AR Dr 12,000 and Deferred RevenueCr 12,000, followed by monthly entries of Deferred Revenue Dr 1,000 and RevenueCr 1,000. How can this annual billing with monthly revenue recognition beconfigured in Oracle Projects Contracts & Billing?

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