Project Conversions - Key Points
Projects Conversions: Key points to note in respect to other integrated modules:
Complete Financial and HR configuration Prerequisites:
Step 1 (GL): Review your chart of account values.
Step 2 (AR): Create customers, customer sites and customer contacts. All the Progressive Billing project has to be associated with a customer, bill-to site, ship-to site and a billing contact.
Step 3 (HR): Define your project organizations. DRU 203 and DRU 204
Step 4 (HR): Create your employees and employee assignments for the Project Manager role for each of the converted Project.Complete Projects Configuration Prerequisites:
Step 5 (PA): Review and update project structures: project types, project templates, revenue categories, event types, lookup sets…This has to be Unique for the Conversion related Projects.-List here the details all that will be created new.
Step 6 (PA): Create your projects and tasks.
Step7 (PA): Assign projects to correct customers, sites and contacts. All three are needed to generate revenue and invoices.
Step 8 (PA): Create customer agreements and funding allocations.
Step 9(PA): Baseline Approved Revenue Budget
Step 10(PA): PA Periods and GL periods-Require details if this will be just 1 Period
Convert Legacy Revenue Balances:Step 11 (PA): Disable revenue transfer to General Ledger.Step 12 (PA): Create legacy revenue balances as Revenue Events (Revenue Amount is populated). Step 13 (PA): Generate revenue for legacy revenue events. Step 14 (PA): Run the Interface Revenue to General Ledger. Step 15 (PA): Turn back on the Transfer Revenue to General Ledger implementation option. Navigate to the Implementation Options screen and enable the Transfer Revenue to GL flag.
Convert Legacy Invoice Balances
Convert Legacy Invoice Balances
Distinguish between billed (that were already printed and sent to the clients) and Unbilled legacy invoices (those that were generated in the legacy system, but were not printed and sent out). –These will be billing events and invoices in Oracle Projects. In order to prevent the balances from becoming open AR balances in Receivables, we will need to delete them in Oracle Receivables.
Step 16 (PA): Create legacy invoice balances as Billing Events (Bill Amount is populated).
Step 17 (PA): Generate draft invoices for legacy invoice balances.
Step 18 (PA): Approve and release draft invoices.
Step 19 (PA): Interface legacy project invoices to Oracle Receivables. Run the PRC: Submit Streamline Interface process with the XI: Interface Interfaces to Receivables option.
Step 20 (AR): Delete the legacy project invoices in Oracle Receivables. As Receivables Manager, navigate to the Transactions form. Find, incomplete and delete the legacy project invoices.
Unpaid Legacy AR InvoicesWhat we converted above was a summary of billed customer invoices for each project. Some of them have might already been paid, some have not in Receivables. You will need to convert any unpaid AR invoices as open AR transactions in Oracle Receivables.Unbilled Billable ItemsVerify and reconcile Projects converted Balances with GL, AR, OM –Where required.