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Project Accounting at Life Care Services

Project Accounting at Life Care Services. Oracle Open World – Projects SIG September 21, 2008 Wade Zimmerman ERP Financial Systems Manager. Who is Life Care Services?. Leading Developer and Manager of Continuing Care Senior Communities throughout the United States

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Project Accounting at Life Care Services

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  1. Project Accountingat Life Care Services Oracle Open World – Projects SIG September 21, 2008 Wade Zimmerman ERP Financial Systems Manager

  2. Who isLife Care Services? • Leading Developer and Manager of Continuing Care Senior Communities throughout the United States • Headquartered in Des Moines, Iowa • Privately Held / Employee Owned • Operations in Over 30 States

  3. Oracle EBS at LCS • Implemented in 2002 • HR, PR, AP, GL, CE • OBIEE (2007) • PA, AR, LD (2008) • Multi-Org • Over 100 Sets of Books/Orgs • 3 Business Groups • 3 Flexfield Structures (shared Value Sets)

  4. Home Health BG Corporate BG Community BG

  5. Management Fees • Billed Monthly • Fixed (Base) Fee • Percent of NOI • Greater of Base / Percent of NOI • Estimates Billed Based Upon Budget • True Ups Qtly / Semi-Annual / Annual

  6. Billing By Top Task • 10 Tasks per Management Project • Timing requires separate invoices

  7. Work Breakdown Structure

  8. Billing By Top Task • 10 Tasks per Management Project • Timing requires separate invoices • ‘Split’ Billing Request • Updates Ready to Accrue/Bill Flags by Task

  9. Billing Extension • Runs for Task 01 for Project Type Managed Community • Creates 3 events for every eligible project • Estimate (or Base Fee) • True Ups (2) • Events are created in staging table and then imported into PA with a separate request

  10. User Defined Attributes • Two UDA’s • Billing Parameters • Base Fee / % of Revenue / Cap / Period Range • Account Parameters • Include / Exclude Range (Natural Account)

  11. Management Fee Calc

  12. Management Fee Calc • Fee Estimate =IF( (IF((C16*$E$6)>$D$6,(C16*$E$6),$D$6)) +U15>$F$6,$F$6-U15, (IF((C16*$E$6)>$D$6,(C16*$E$6),$D$6)) )

  13. Management Fee Calc • True Up #1 =IF(W17=‘Y’,0, IF((G16-K15+T17)>$F$6, $F$6-T17,(G16-K15)) )

  14. Management Fee Calc • True Up #2 =IF(V18=‘Y’,0, IF((I16-K15-M17+S18) >$F$6,$F$6-S18,(I16-K15-M17)) )

  15. Questions?

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