1 Reply Latest reply: Jan 9, 2013 6:23 AM by Dina Rotem RSS

    Unearned Revenue and Unbilled Receivables are mismatching


      We are currently using Oracle Projects Billing and we have gone live in oct'12.
      I am finding mismatch in terms of unearned revenue and unbilled receivable accounting.
      However, the root cause is during migration of Revenue and Invoices,
      Transfer revenue to GL was unchecked hence it has not created any balance for unbilled/unearned.
      After the migration has been completed the setup was changed as follows
      Transfer revenue to GL as checked
      But now the new transactions are not considering the migrated revenue events for unbilled and unearned balances for accounting.

      Oracle has given a fix to update the unaccounted transactions to re-process with Accounting and this worked.
      However, we have allready created new invoices and revenue transactions in the subsequent periods Nov'12, Dec'12, Jan'13 and has been transferred to General ledger in same periods.
      Now, when we are correcting this transaction it is considering the total balances and generating unbilled and unearned. This is ok for project balances but it is wrong in terms of periodic balances.
      KIndly let me know your suggestiont to correct unbilled/earned balances by period.

        • 1. Re: Unearned Revenue and Unbilled Receivables are mismatching
          Dina Rotem

          There is no real solution for this situation.

          I can think of two work around methods.

          1) Reverse all revenue and invoices from October till now, and then generate them again, and transfer to GL in the right order.
          2) For a similar situation we have billed a custom report that gets as parameter a certain GL Period. The report shows for each project the accumulated revenue and accumulate invoices, which were generated and accounted with GL period up to the period in the report parameter. The report can also be run in details and shows the list of invoices and revenues sorted by GL periods. Accountants entered manual journal entries in GL to correct the balances per period.