Basic question abut Revenue
Hi,
I am quite new to supporting Projects. I've been asked to look into Journals in GL with a Source of Projects and a Category of Revenue.
At a basic question, what defines a "Revenue" in Projects? I haven't got an accounting background so have found the Oracle Docs quite heavy going and wondered if someone might be able to please provide a basic explanation please?
Is it something to do with spending money?
I realise that users can create Draft Revenues in Projects, and these can in turn be converted into Invoices which get sent to AR. Does every Revenue create an Expenditure Item as well? Or is it an Event which creates an Exp. Item?
I am quite new to supporting Projects. I've been asked to look into Journals in GL with a Source of Projects and a Category of Revenue.
At a basic question, what defines a "Revenue" in Projects? I haven't got an accounting background so have found the Oracle Docs quite heavy going and wondered if someone might be able to please provide a basic explanation please?
Is it something to do with spending money?
I realise that users can create Draft Revenues in Projects, and these can in turn be converted into Invoices which get sent to AR. Does every Revenue create an Expenditure Item as well? Or is it an Event which creates an Exp. Item?
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