Creating balance adjustments

  1. Select Financials > Project Ledger > Setup > Project Setup.
  2. On the Structure tab, open a project structure.
  3. On the Hierarchy tab, open a contract summary project.
  4. Select Actions > Update.
  5. Click Contract Information.
  6. On the Balance Adjustments tab, click Create.
  7. Specify this information:
    Project Funding
    Select project funding from the existing project funding that is assigned to the project contract.
    Project
    Select a posting project from the existing posting projects that are created for the project contract.
    Invoiced Amount
    Specify the amount that is invoiced for the project funding or posting project from a previous system.
    Billable Amount
    Specify the billable amount for the project funding or posting project from a previous system.
    Hours
    Specify the hours for the project funding or posting project from a previous system.
    Revenue Amount
    This field is displayed only when revenue recognition is separate. Specify the amount that is recognized as revenue for the project funding or posting project from a previous system.
    Account
    Specify the account that comprises the billable amount for the project funding or posting project from a previous system.
    Ledger
    Select the ledger that the account is posted to for the project funding or posting project.
    Accounting Entity
    Select the accounting entity that the account is posted to for the project funding or posting project.
    Note: Additional dimensions that are defined in the finance enterprise group are also displayed and can be selected.
  8. Click Save.