Overview of AutoAccounting (Oracle Projects Help)


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Overview of AutoAccounting

Oracle Projects creates many different accounting transactions throughout its business cycle. For example, posting labor cost debits and labor revenue credits requires several accounting transactions. Since the accounting practices and account structure are unique for your business, Oracle Projects provides a flexible mechanism--AutoAccounting--to let you specify how to determine the correct general ledger account for each transaction.

Examples of accounting practices you can implement using AutoAccounting include:

"Charge central headquarters with all advertising costs regardless of which region those advertisements benefit."

"Credit payroll costs to the payroll liability account belonging to the division for which an employee works."

"Assign revenue from subcontractors to the company and cost center managing the project."

When you implement AutoAccounting, you define the rules governing which general ledger accounts Oracle Projects uses under which circumstances. Oracle Projects uses the rules you define whenever it performs an accounting transaction.

How AutoAccounting works

For each accounting transaction, you define rules to determine the appropriate account to charge. Each accounting transaction is identified by an AutoAccounting function. AutoAccounting functions are components of programs that you submit to generate accounting entries.

AutoAccounting Functions

The following table (Table 1 - 88) shows each AutoAccounting function; it also tells you what business activities Oracle Projects is performing when it uses that AutoAccounting function.

Depending upon your implementation of Oracle Projects, you probably need to implement most, or all, AutoAccounting functions.

AUTOACCOUNTING FUNCTION BUSINESS ACTIVITY

Revenue and Billing

Event Revenue Account Determines revenue account for revenue events

Expense Report Revenue Account Determines revenue account for expense report items

Labor Revenue Account Determines revenue account for labor items

Labor Revenue Borrowed Account Determines labor revenue borrowed account, which is the credit side of the borrowed and lent transaction

Labor Revenue Lent Account Determines labor revenue lent account, which is the debit side of the borrowed and lent transaction

Revenue and Invoice Accounts Determines accounts to track revenue and receivables

Supplier Invoice Revenue Account Determines revenue account for supplier invoice items

Usage Revenue Account Determines revenue account for usage items

Usage Revenue Borrowed Account Determines usage revenue borrowed account, which is the credit side of the borrowed and lent transaction

Usage Revenue Lent Account Determines usage revenue lent account, which is the debit side of the borrowed and lent transaction

Costing

Expense Report Cost Account Determined cost account for expense report items.

Expense Report Liability Account Determines liability account for expense report costs

Labor Cost Account Determines cost account for all labor items, including straight time and overtime

Labor Cost Clearing Account Determines clearing account for labor costs

Supplier Invoice Cost Account Determines cost account for adjusted supplier invoice items.

Total Burdened Cost Credit Determines credit account for total burdened costs for all items on burdened projects

Total Burdened Cost Debit Determines debit account for total burdened costs for all items on burdened projects

Usage Cost Account Determines cost account for usage items

Usage Cost Clearing Account Determines clearing account for usage costs

Table 1 - 88. (Page 2 of 2) AutoAccounting Functions

AUTOACCOUNTING FUNCTION	BUSINESS ACTIVITY
Revenue and Billing
Event Revenue Account	Determines revenue account for revenue events
Expense Report Revenue Account	Determines revenue account for expense report items
Labor Revenue Account	Determines revenue account for labor items
Labor Revenue Borrowed Account	Determines labor revenue borrowed account, which is the credit side of the borrowed and lent transaction
Labor Revenue Lent Account	Determines labor revenue lent account, which is the debit side of the borrowed and lent transaction
Revenue and Invoice Accounts	Determines accounts to track revenue and receivables
Supplier Invoice Revenue Account	Determines revenue account for supplier invoice items
Usage Revenue Account	Determines revenue account for usage items
Usage Revenue Borrowed Account	Determines usage revenue borrowed account, which is the credit side of the borrowed and lent transaction
Usage Revenue Lent Account	Determines usage revenue lent account, which is the debit side of the borrowed and lent transaction
Costing
Expense Report Cost Account	Determined cost account for expense report items.
Expense Report Liability Account	Determines liability account for expense report costs
Labor Cost Account	Determines cost account for all labor items, including straight time and overtime
Labor Cost Clearing Account	Determines clearing account for labor costs
Supplier Invoice Cost Account	Determines cost account for adjusted supplier invoice items.
Total Burdened Cost Credit	Determines credit account for total burdened costs for all items on burdened projects
Total Burdened Cost Debit	Determines debit account for total burdened costs for all items on burdened projects
Usage Cost Account	Determines cost account for usage items
Usage Cost Clearing Account	Determines clearing account for usage costs
Table 1 - 88. (Page 2 of 2) AutoAccounting Functions

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