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NoetixViews for Oracle Projects

NoetixViews for Oracle Projects provides a solution for maintaining control and visibility of projects. It displays project information at a single source point enabling you to track and manage a project through the project lifecycle.

Note: In accordance with the changes implemented in Oracle E-Business Suite Release 12, the term “base currency” has been replaced with “primary currency” and the term “foreign currency” has been replaced with “transaction currency.”

NoetixViews for Oracle Projects includes approximately 50 views that cover various project types such as capital, contract, and indirect. The subject areas covered are projects, tasks, resources, budgets, expenditures, invoices, revenues, and status inquiry. These views belong to the basic, value-added or cross-functional type and additionally are categorized as detail or summary-level views.

Detail views present transaction details as entered in Oracle Projects. Usually, these transactions can be entered in various currencies. All detail views include one or more transaction currency amount, as well as converted project and project functional currency amounts. A currency-code column differentiates the currency types for the user.

Summary views require the summation of individual transaction amounts. Therefore, summary views show the amounts in a single currency. The project functional currency and currency-code columns are not displayed.

Background

In Oracle E-Business Suite 10.7, the Oracle Project Costing module had the facility to enter receipts in multiple currencies. Oracle expanded the multi-currency functionality within the Project Costing module with Oracle
E-Business Suite 11.0.3 and then further extended the multi-currency support to Oracle Project Billing with Oracle E-Business Suite 11.5.8, Family Pack J.

NoetixViews supports multi-currency feature in the areas of Project Accounting, Project Costing, and Project Billing.

Currency Types Supported in Noetix Views for Projects

NoetixViews for Oracle Projects supports three types of currencies:

  • Project functional currency: The currency derived from the ledger of an operating unit. If multi-currency is enabled, each project can be maintained in a specific currency called project currency.

  • Project currency: The currency to which all transactions of a project are converted for processing and summarization. This can be defined per project.

  • Transactional currency: Can be different from project functional and project currencies with respect to subject area. For example, expenditures can take place in one currency and the agreement between customers can be in another currency. In the case of expenditures, the transactional currency is termed as expenditure currency and in the case of agreements, it becomes agreement currency.

Multi-Currency Terminology in Oracle Projects

The following table lists the multi-currency terminology used in Oracle Projects.

Terminology

Definition

Agreement Currency (AC)

The currency mentioned on agreement in which funding is done.

Bill Transaction Currency (BTC)

This can vary between an expenditure item, an event, and a billing schedule. After an amount is derived in bill transaction currency during revenue and invoice processing, the rest of the amounts in various currencies, namely project functional currency, project currency, and invoice currency are derived based on the Bill Transaction Currency. In other words, it is the single point arrived at first, and then the rest of the currency amounts are derived.

Denom Currency

The currency in which expenditure is recorded against a project. This can also be treated as a transactional currency for the expenditure/costing process.

Functional Currency (F)

This is the single common currency used for book keeping and is specific to operating units and ledgers/sets of books. This terminology is used in all subledger modules and is called project functional currency in project modules.

Funding Currency (FC)

The currency in which the project is funded.

Invoice Currency (IC)

Invoices will be raised in this specific currency while billing project customers.

Invoice Processing Currency (IPC)

Funding and invoice amounts are converted to this currency to check against funding and evaluate hard and soft limits. This can be one of the following values: Project Functional Currency, Project Currency or Funding Currency. Only one value is valid for a project, and this cannot be changed after the initial expenditure is booked.

Project Currency (PC)

The currency to which all transactions of a project are converted for processing and summarization. This can be defined per project.

Project Functional Currency (PFC)

The principal currency in which accounting data is maintained in Projects. Same as functional currency in subledger modules. There is one project functional currency for each operating unit.

Receipt Currency

This currency information will be entered as a transactional attribute while recording expenditure.

Revenue Processing Currency (RPC)

Revenue is processed using a common currency called the revenue processing currency which is always the project functional currency.

For more information about multi-currency functionality in Projects, see the Oracle documentation.

For information about various subject areas in Projects, see NoetixViews for Oracle Projects.

Effect of Multi-Currency on Different Types of Projects

In Projects, amounts entered through transaction entry dialog boxes are in corresponding transaction currencies. For example, when a particular project is funded, it may be treated as a funding transaction. When a customer is invoiced, it may be treated as an invoicing transaction. Given each transaction amount, each implementation or setup dictates the currency type for converting each amount.

Capital Projects transactions will include agreements, funding, and expenditures. These transactions will be grouped to be posted into assets. No billing activity takes place for these types of projects. Indirect projects may include the same transaction types, but neither asset creation nor billing to the customer will take place for indirect projects. Finally, contract projects may span across all types of transactions in Projects except asset creation.

Creating a report for a particular subject area with transactions in a particular currency type is a simple report. However, when the same information is shown for a combination of subject areas with multiple currencies in each subject area, it becomes increasingly complex. The amounts must be converted into values having a common denominator to facilitate valid comparison. For example, a budget-to-actual view and/or report should show a common currency type to easily compare budget amount with the actual or expense amount.

It is for this reason that the Oracle E-Business Suite’s folder feature defaults a currency type that displays the amounts in each subject area and allows you to toggle to view currency columns in different currency types, if selected.

Multi-Currency Activation in NoetixViews for Oracle Projects

You can activate multi-currency columns in NoetixViews for Oracle Projects during Stage 4.

The prerequisites for multi-currency activation are as follows:

  • Oracle E-Business Suite 11.5.8 or later must be installed.

  • Oracle Projects must be installed.

  • NoetixViews for Oracle Projects must be purchased.

Activating the Multi-Currency Columns

On detecting the required software during Stage 4, NoetixViews prompts you to choose whether the new multi-currency columns should be generated in NoetixViews for Oracle Projects.

Note: NoetixViews does not determine whether you are actually using the Projects’ multi-currency functionality.

For information about activating the multi-currency columns:

Note: It is possible to implement the multi-currency functionality in NoetixViews for Oracle Projects without activating the feature in Oracle E-Business Suite. insigihtsoftwarerecommends that you activate the multi-currency columns in NoetixViews only if your functional experts confirm that you are currently using multiple currencies in Projects, or you intend to use this Oracle feature in the future.

Results of Multi-Currency Activation in Noetix Views for Projects

Activating multi-currency columns in NoetixViews results in the following changes:

  • All transactional views have transaction-specific currency values in the base amount columns. Additional columns for project functional currency (with the PFC suffix) and project currency (with the PC suffix) may also be generated. These additional columns are not added for every occurrence of a transactional amount column.

    Most of the PFC columns corresponding to the transaction-amount columns are generated. Some of the PC columns corresponding to the transaction-amount columns are also generated.

    You cannot summarize on the transaction-amount columns with this option as the columns can be in multiple currencies. You must summarize the transaction-amount columns based on the corresponding PFC or PC columns.

    Note: An expense amount in Project Currency might not equal the Payables Functional Currency amount for the same transaction.

  • Information related to currency codes and exchange rates is generated.

    Note: If you use the multi-currency functionality of Oracle Projects at your site, you must activate multi-currency columns in your views. Otherwise, the amount columns in your views will contain values in project functional currencies, and not display information related to currency codes and exchange rates.

Published:

NoetixViews for Oracle Projects

NoetixViews for Oracle Projects provides a solution for maintaining control and visibility of projects. It displays project information at a single source point enabling you to track and manage a project through the project lifecycle.

Note: In accordance with the changes implemented in Oracle E-Business Suite Release 12, the term “base currency” has been replaced with “primary currency” and the term “foreign currency” has been replaced with “transaction currency.”

NoetixViews for Oracle Projects includes approximately 50 views that cover various project types such as capital, contract, and indirect. The subject areas covered are projects, tasks, resources, budgets, expenditures, invoices, revenues, and status inquiry. These views belong to the basic, value-added or cross-functional type and additionally are categorized as detail or summary-level views.

Detail views present transaction details as entered in Oracle Projects. Usually, these transactions can be entered in various currencies. All detail views include one or more transaction currency amount, as well as converted project and project functional currency amounts. A currency-code column differentiates the currency types for the user.

Summary views require the summation of individual transaction amounts. Therefore, summary views show the amounts in a single currency. The project functional currency and currency-code columns are not displayed.

Background

In Oracle E-Business Suite 10.7, the Oracle Project Costing module had the facility to enter receipts in multiple currencies. Oracle expanded the multi-currency functionality within the Project Costing module with Oracle
E-Business Suite 11.0.3 and then further extended the multi-currency support to Oracle Project Billing with Oracle E-Business Suite 11.5.8, Family Pack J.

NoetixViews supports multi-currency feature in the areas of Project Accounting, Project Costing, and Project Billing.

Currency Types Supported in Noetix Views for Projects

NoetixViews for Oracle Projects supports three types of currencies:

  • Project functional currency: The currency derived from the ledger of an operating unit. If multi-currency is enabled, each project can be maintained in a specific currency called project currency.

  • Project currency: The currency to which all transactions of a project are converted for processing and summarization. This can be defined per project.

  • Transactional currency: Can be different from project functional and project currencies with respect to subject area. For example, expenditures can take place in one currency and the agreement between customers can be in another currency. In the case of expenditures, the transactional currency is termed as expenditure currency and in the case of agreements, it becomes agreement currency.

Multi-Currency Terminology in Oracle Projects

The following table lists the multi-currency terminology used in Oracle Projects.

Terminology

Definition

Agreement Currency (AC)

The currency mentioned on agreement in which funding is done.

Bill Transaction Currency (BTC)

This can vary between an expenditure item, an event, and a billing schedule. After an amount is derived in bill transaction currency during revenue and invoice processing, the rest of the amounts in various currencies, namely project functional currency, project currency, and invoice currency are derived based on the Bill Transaction Currency. In other words, it is the single point arrived at first, and then the rest of the currency amounts are derived.

Denom Currency

The currency in which expenditure is recorded against a project. This can also be treated as a transactional currency for the expenditure/costing process.

Functional Currency (F)

This is the single common currency used for book keeping and is specific to operating units and ledgers/sets of books. This terminology is used in all subledger modules and is called project functional currency in project modules.

Funding Currency (FC)

The currency in which the project is funded.

Invoice Currency (IC)

Invoices will be raised in this specific currency while billing project customers.

Invoice Processing Currency (IPC)

Funding and invoice amounts are converted to this currency to check against funding and evaluate hard and soft limits. This can be one of the following values: Project Functional Currency, Project Currency or Funding Currency. Only one value is valid for a project, and this cannot be changed after the initial expenditure is booked.

Project Currency (PC)

The currency to which all transactions of a project are converted for processing and summarization. This can be defined per project.

Project Functional Currency (PFC)

The principal currency in which accounting data is maintained in Projects. Same as functional currency in subledger modules. There is one project functional currency for each operating unit.

Receipt Currency

This currency information will be entered as a transactional attribute while recording expenditure.

Revenue Processing Currency (RPC)

Revenue is processed using a common currency called the revenue processing currency which is always the project functional currency.

For more information about multi-currency functionality in Projects, see the Oracle documentation.

For information about various subject areas in Projects, see NoetixViews for Oracle Projects.

Effect of Multi-Currency on Different Types of Projects

In Projects, amounts entered through transaction entry dialog boxes are in corresponding transaction currencies. For example, when a particular project is funded, it may be treated as a funding transaction. When a customer is invoiced, it may be treated as an invoicing transaction. Given each transaction amount, each implementation or setup dictates the currency type for converting each amount.

Capital Projects transactions will include agreements, funding, and expenditures. These transactions will be grouped to be posted into assets. No billing activity takes place for these types of projects. Indirect projects may include the same transaction types, but neither asset creation nor billing to the customer will take place for indirect projects. Finally, contract projects may span across all types of transactions in Projects except asset creation.

Creating a report for a particular subject area with transactions in a particular currency type is a simple report. However, when the same information is shown for a combination of subject areas with multiple currencies in each subject area, it becomes increasingly complex. The amounts must be converted into values having a common denominator to facilitate valid comparison. For example, a budget-to-actual view and/or report should show a common currency type to easily compare budget amount with the actual or expense amount.

It is for this reason that the Oracle E-Business Suite’s folder feature defaults a currency type that displays the amounts in each subject area and allows you to toggle to view currency columns in different currency types, if selected.

Multi-Currency Activation in NoetixViews for Oracle Projects

You can activate multi-currency columns in NoetixViews for Oracle Projects during Stage 4.

The prerequisites for multi-currency activation are as follows:

  • Oracle E-Business Suite 11.5.8 or later must be installed.

  • Oracle Projects must be installed.

  • NoetixViews for Oracle Projects must be purchased.

Activating the Multi-Currency Columns

On detecting the required software during Stage 4, NoetixViews prompts you to choose whether the new multi-currency columns should be generated in NoetixViews for Oracle Projects.

Note: NoetixViews does not determine whether you are actually using the Projects’ multi-currency functionality.

For information about activating the multi-currency columns:

Note: It is possible to implement the multi-currency functionality in NoetixViews for Oracle Projects without activating the feature in Oracle E-Business Suite. insigihtsoftwarerecommends that you activate the multi-currency columns in NoetixViews only if your functional experts confirm that you are currently using multiple currencies in Projects, or you intend to use this Oracle feature in the future.

Results of Multi-Currency Activation in Noetix Views for Projects

Activating multi-currency columns in NoetixViews results in the following changes:

  • All transactional views have transaction-specific currency values in the base amount columns. Additional columns for project functional currency (with the PFC suffix) and project currency (with the PC suffix) may also be generated. These additional columns are not added for every occurrence of a transactional amount column.

    Most of the PFC columns corresponding to the transaction-amount columns are generated. Some of the PC columns corresponding to the transaction-amount columns are also generated.

    You cannot summarize on the transaction-amount columns with this option as the columns can be in multiple currencies. You must summarize the transaction-amount columns based on the corresponding PFC or PC columns.

    Note: An expense amount in Project Currency might not equal the Payables Functional Currency amount for the same transaction.

  • Information related to currency codes and exchange rates is generated.

    Note: If you use the multi-currency functionality of Oracle Projects at your site, you must activate multi-currency columns in your views. Otherwise, the amount columns in your views will contain values in project functional currencies, and not display information related to currency codes and exchange rates.

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