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    Federico Samyn Dowie
    Accounting Entries Based On Invoice and Revenue Methods in...Answered
    Topic posted May 7, 2019 by Federico Samyn DowieBronze Medal: 1,250+ Points, tagged Grants Management, Project Billing & Revenue, Project Management 
    123 Views, 5 Comments
    Title:
    Accounting Entries Based On Invoice and Revenue Methods in Project Contracts
    Summary:
    How can I map the GL accounting entries for Revenue and Invoices in Contracts based on the Bill and Revenue methods?
    Content:

    Hello, 

    We receive Grants from different sponsors (Government, Private, etc). We want to have different accounting entries for reflecting Receivables and Revenue events in GL depending on the Invoice and Revenue methods defined in the Contract lines for these sponsors.

    Where would I go to map the Invoice and Revenue Methods to the proper GL accounts?

    Thanks.

    Fede

      

    Version:
    19A

    Best Comment

    Michelle Swisher

    At KU we use SLA rules in combination with a DFF on the Contract header to make the accounting hit the accounts we want.

     

    Thanks,

    Michelle Swisher

    University of Kansas

    Comment

     

    • Michelle Swisher

      At KU we use SLA rules in combination with a DFF on the Contract header to make the accounting hit the accounts we want.

       

      Thanks,

      Michelle Swisher

      University of Kansas

    • Perry Unrau

      In the Manage Subledger Application Transaction Objects task in Setup and Maintenance for the Project Costing application (you need to create an implementation project with the Projects applications selected in order to set the scope to be Project Costing), you can select Event Class like External Revenue, click View Source Assignments, and query by example using %method% to find Revenue Method Id is a line level SLA source.

      Similarly for the Receivables application, you can select Event Class like Invoice, click View Source Assignments, and again query by example using %method% to find Intercompany Draft Invoice Method is a line level SLA source.  When you click the Source Details icon, you can see the object column name is INVOICE_LINE_BILL_METHOD_ID.  This object column is in PJB_XLA_INV_LINES_REF_V view, which selects BILL_METHOD_ID from PJB_BILL_PLANS_B.  The where clause has no reference to Intercompany.  I think the name displayed on the Source Assignments UI and the description displayed on the Source Details dialog window are both incorrect.  I will log a bug to confirm.  In the meantime, to use this attribute as an SLA source, you will need to ensure your bill plan uses invoice formats that group by contract line number, which results in the contract line number being stamped on the project contract invoice.  I strongly recommend that you test the SLA source for external, intercompany, and interproject contracts, if you use all 3 billing types.

      Perry

    • Federico Samyn Dowie

      Thank you for your comments!

      I'm starting to think that assigning the accounting logic to the Revenue and Invoice methods may not be the right way to do it. A DFF based on the contract type, as @Michelle Swisher suggested seems to make more sense. 

      thanks again!

       

      Fede. 

      • Perry Unrau

        Yes, that approach can definitely work.  Please note the following contract type-related attributes are also SLA sources for both invoice and revenue accounting entries:

        1. Contract Type
        2. Contract Type Id
        3. Contract Type Intercompany Flag
        4. Contract Type Interproject Flag

        Perry