Peoplesoft Project Costing User Guide
Feb 4, 2010 - containing restrictions on use and disclosure and are protected by intellectual property laws. Training Guide. PeopleSoft Project Costing is a powerful application that will allow you to efficiently track and.
Oracle Project Costing User Guide Browser version script Oracle Project Costing User Guide Release 12.1 Part Number E13438-04 Overview of Project Costing This chapter gives you an overview of project costing in Oracle Projects. This chapter covers the following topics:. Overview of Costing Costing is the processing of expenditures to calculate their cost to each project and determine the GL accounts to which the costs will be posted. Costing is performed for the following types of expenditures:. Pre-approved expenditures.
Labor. Usages. Miscellaneous Transactions.
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Burden transactions. Expenditures submitted from Oracle Internet Expenses.
Supplier Costs. Imported expenditures. See: Transaction Import, Oracle Projects APIs, Client Extensions, and Open Interfaces Reference. Adjusted expenditures in Oracle Projects that need re-costing. Related Topics Costing in Oracle Projects The following illustration shows how costing is performed and accounted in Oracle Projects.
Costing in Oracle Projects As shown in the illustration, costing includes the following major steps:. Enter and approve expenditures through the Oracle Projects user interface, or import transactions (for example, through Transaction Import). Note: You can use Transaction Import to import unaccounted and accounted transactions. If you import unaccounted transaction, then you must run the costing processes for the transactions. If you import accounted transactions, then no additional processing is needed.
For additional information, see: Transaction Sources, Oracle Projects Implementation Guide. Distribute costs and derive default accounting. See:. Generate cost accounting events.
Peoplesoft Project Costing Module
The generate cost accounting events process performs the following tasks:. Collects cost distribution lines in Oracle Projects and uses AutoAccounting to determine the default liability accounts for raw and burden costs. Generates cost accounting events for Oracle Subledger Accounting.
Create accounting in Oracle Subledger Accounting and transfer the accounting entries to Oracle General Ledger. Depending on the parameter values you select, the create accounting process performs the following tasks:. Creates subledger accounting entries for unaccounted accounting events. Note: If you define your own detailed accounting rules in Oracle Subledger Accounting, then Oracle Subledger Accounting overwrites default accounts, or individual segments of accounts, that Oracle Projects derives using AutoAccounting. Transfers accounting entries to the Oracle General Ledger interface tables. Initiates the journal import process in Oracle General Ledger. The journal import process uses the summary interface information stored in the Oracle General Ledger interface tables and automatically creates journal entries for posting in Oracle General Ledger.
Initiates posting of journal entries in Oracle General Ledger. Note: You can optionally run the Subledger Period Close Exceptions Report to view information about unprocessed accounting events, accounting events in error, and transactions that are successfully accounted in final mode in Oracle Subledger Accounting, but not posted in Oracle General Ledger. This report provides you with the ability to separately tie back and determine whether accounting entries are posted in Oracle General Ledger. Related Topics Distribution Processes, Oracle Projects Fundamentals Generate Cost Accounting Events, Oracle Projects Fundamentals Create Accounting, Oracle Projects Fundamentals Costing Processes The following illustration shows the flow of costing processes in Oracle Projects.
Costing Processes As shown in the illustration, create and distribution processes perform the following tasks:. Calculate raw cost (quantity x rate) in transaction currency. Calculate burden and burdened cost Burden costs are legitimate costs of doing business that support raw costs and cannot be directly attributed to work performed.
Examples of burden costs are fringe benefits, office space, and general and administrative costs. Burdened cost is the total cost of an expenditure item, including raw cost and burden costs. For information about burden and burdened costs, see:. Create and distribute raw cost distribution lines. Convert all transaction currency amounts to functional currency and project cost currency amounts. Create and distribute burden and burdened cost distribution lines. Determine default accounting using AutoAccounting (debit account for raw cost and burden costs, debit and credit accounts for total burdened costs) Note: If you are not performing burdening, you can skip the processes that create and distribute burden and burdened cost.
Oracle Project Costing User Guide R12
Generate cost accounting events. Calculating Costs This section briefly describes how Oracle Projects calculates costs for expenditures. For more detailed information about the costing process, refer to the labor costing example in this chapter. Each transaction has two cost amounts when processed, raw and burdened. Oracle Projects calculates these amounts for each detail transaction when you distribute costs using any of the following processes:.
Distribute Labor Costs. Distribute Usage and Miscellaneous Costs. Distribute Supplier Cost Adjustments. Distribute Expense Report Adjustments The raw cost is the actual cost of the work performed, and the burden cost is the indirect cost of work performed. The burden costs are created to apply overhead costs to projects to provide an accurate total cost figure.
The burdened cost is the total cost of the expenditure, or the sum of raw cost and burden cost. Oracle Projects calculates the burden cost using the raw cost and a burden multiplier. Calculating Labor Cost Oracle Projects calculates cost for labor transactions using quantity and rates as follows:. Raw cost is the result of multiplying hours by a rate. Burden cost is the result of multiplying raw cost by a burden multiplier. Burdened cost is the sum of raw cost and burden cost.
Note: You can define a unique labor costing algorithm using the Labor Costing Extensions. See: Labor Costing Extensions, Oracle Projects APIs, Client Extensions, and Open Interfaces Reference. Related Topics Calculating Cost for Usages and Miscellaneous Transactions Oracle Projects calculates the cost for usages and miscellaneous transactions as follows:.
Raw cost is equal to quantity (if quantity is in currency, for example, a currency amount), or alternatively, raw cost is the result of multiplying quantity by a rate (if quantity is not in currency). You can define cost rates for usage and miscellaneous costs as follows:. cost rates by expenditure type. cost rates by non-labor resource and owning organization for usages (optional); overrides expenditure type cost rate.
Burden cost is the result of multiplying raw cost by a burden multiplier. Burdened cost is the sum of raw cost and burden cost. Related Topics Using Rates for Costing, Oracle Projects Fundamentals Calculating Burden Cost and Total Burdened Cost Oracle Projects calculates burden cost by multiplying raw cost by a burden multiplier.
This calculation is represented in the following formula: Burden Cost = Raw Cost x Burden Multiplier Oracle Projects calculates total burdened cost by adding burden cost to the raw cost amount. This calculation is represented in the following formula: Total Burdened Cost = Raw Cost + Burden Cost You use the burden multiplier to derive the total amount of the burden cost. Related Topics Determining Supplier Costs Oracle Projects determines costs for receipt accruals from Oracle Purchasing and supplier costs from Oracle Payables using the following logic:. For supplier costs interfaced from Oracle Payables, raw cost for each expenditure item is equal to the supplier invoice distribution line amount (accrual basis accounting) or the payment distribution amount (cash basis accounting) in Oracle Payables.
For receipt accrual costs interfaced from Oracle Purchasing, raw cost is equal to the receipt transaction amount in Oracle Purchasing. For contingent worker timecards with Oracle Purchasing integration, when you run the process PRC: Distribute Labor Costs, Oracle Projects uses rates from the related purchase order to calculate the costs. Burden cost is the result of multiplying raw cost by a burden multiplier. Burdened cost is the sum of raw cost and burden cost.
PeopleSoft Project Costing – A Diamond in the Rough Presented by: Beacon Application Services and Oracle In this webcast, Beacon Application Services and Oracle will share hidden gems within PeopleSoft Project Costing. Application of this module goes way beyond standard Capital Projects (IT and/or buildings/improvements).
Many leading financial services organizations have expanded the usage for Project Costing to include financial reporting on everything from Merger and Acquisition costs to global economic consulting services delivery. In order to expand the usage of PC, we have discovered some golden nuggets of wisdom, including: the need to restrict access at a Project level (solution: row level security); budget approval and redistribution (solution: rules based parameters and security); as well as lack of delivered workflow capabilities (not that difficult!); and, lastly, integration with project management software. Learn how you can bring expanded value and a strong ROI to your organization. This is far more than a cost spreadsheet – take advantage of the hidden gem you have!