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R12: How Is Oracle Projects Handling The Verbal Contract With Regards to Recognize Revenue Situation? (Doc ID 2564959.1)

Last updated on JULY 24, 2019

Applies to:

Oracle Project Billing - Version 12.1.3 and later
Information in this document applies to any platform.

Goal

Currently working with just a verbal contract while the written contract is still being created.

How is Oracle handling the verbal contract with regards to recognize revenue situation?

How is Oracle handling this situation with regards to the new revenue recognition requirements?

Refer to note, Manage Project Revenue According to IFRS 15/ASC-606, Release 12.2 (<Note 2432035.1>), for the revenue recognition functionality.
 

Solution

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In this Document
Goal
Solution
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