Oracle Projects releases revenue to make it eligible for interface to Oracle General Ledger.
You cannot update or delete released revenue. Oracle Projects processes adjustments to released revenue by creating crediting revenue transactions.When you generate revenue for a range of projects, it has a status of Released.
Released revenue can interface to Oracle General Ledger when you run the Interface revenue process. When you generate revenue for a single project, it has a status Pending.
Oracle Projects automatically releases revenue when you interface revenue to Oracle General Ledger in the Submit Request window. You can also release revenue manually using the Revenue Review window.
If you regenerate draft revenue for a single project, the process deletes any Pending draft
revenue and replaces it with the new amount.
When you release an invoice which is based on revenue details (such as a T & M invoice), Oracle Projects automatically releases the associated revenue. You use the Invoice Summary window to release an invoice.
Oracle Projects fully integrates with Oracle General Ledger to update your general ledger accounts with your revenue transactions. You need to interface revenue with Oracle General Ledger using Oracle Projects processes. These processes interface and tieback revenue, maintain accounting balances and Unbilled Receivables and Unearned Revenue amounts.
Revenue is automatically adjusted when you adjust an invoice that bills the associated revenue. You can adjust draft revenue and draft invoices by adjusting expenditure items using the Expenditure Items window. For example, you can change the status of an expenditure item from billable to non-billable, or transfer an expenditure item to a different project from the one it is charged to.
Warning: You should make all revenue adjustments in Oracle Projects. You should not adjust project revenue in Oracle General Ledger, because the revenue amounts will not reconcile to the amounts in Oracle Projects.
You also can create revenue events to adjust the revenue amount associated with a project, independent of the expenditure items charged to the project. Revenue events have a classification of Write-On, Write-Off, Manual, or Automatic. You use the Events window to enter revenue events for projects or top tasks. The Events window is accessible from the Billing Information option.