Project Process Configurator is used to define formulae for billing, costing methods, and complicated revenue and invoice amounts. It helps us to define advanced revenue methods.The formulae are based on a predefined set of sources.​

By using Project Process Configurator, it is possible to define complex calculations for advanced revenue recognition requirements. Then these calculations can be assigned to revenue methods for consistent treatment of revenue across the contract. This feature helps us to adhere to IFRS 15 more closely.​

By using Project Process Configurator, it is possible to define complex calculations for advanced revenue recognition requirements. Then these calculations can be assigned to revenue methods for consistent treatment of revenue across the contract. This feature helps us to adhere to IFRS 15 more closely.

1. Asset Line Grouping –​

This grouping of asset lines is useful while assigning assets to projects. For example, you can create a configurator to specify that the application must group asset line costs using project attributes, such as inventory item or funding source, or a user-defined descriptive flex-field. ​

2. Project Burden Cost Grouping –​

This grouping specifies the source transaction number as the grouping criteria for project burden costs. ​​

3. Project Invoice and Revenue Grouping –

This is used for complex invoice fee calculation, loss-making projects, complex accruals, discounts, rebates, etc. ​

• Define formulae for billing and define advanced revenue methods.​
• Facilitates invoice billing events.​
• Helps to group asset lines using additional criteria. ​
• Manage Burden costs.

• Predefined revenue methods are not sufficing then Advanced revenue methods can be defined by using the configurator.​
• It can be used for invoice billing event purposes.​
• This is an additional progress source for performance obligation modeled as a contract line.​

Project Process Configurator can be effectively used to ​
— Define complex formulae for billing, revenue methods, and complicated revenue and invoice amounts.​
— Configure additional grouping criteria to group asset lines and perform asset assignments ​
— Enables you to add the Transaction Number of a project cost as an additional grouping criterion for summarized burden costs.​

Got any questions on Project Process Configurator? Please reach out to yugandhara.kulkarni@proso.ai