Project Accounting at Life Care Services

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Project Accountingat Life Care Services

• Oracle Open World Projects SIG
• September 21, 2008
• Wade Zimmerman
• ERP Financial Systems Manager

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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

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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)

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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

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Billing By Top Task

• 10 Tasks per Management Project
• Timing requires separate invoices

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Work Breakdown Structure
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Billing By Top Task

• 10 Tasks per Management Project
• Timing requires separate invoices
• Split Billing Request
• Updates Ready to Accrue/Bill Flags by Task

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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

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User Defined Attributes

• Two UDAs
• Billing Parameters
• Base Fee / of Revenue / Cap / Period Range
• Account Parameters
• Include / Exclude Range (Natural Account)

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Management Fee Calc
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Management Fee Calc

• Fee Estimate
• IF(
• (IF((C16E6)gtD6,(C16E6),D6))
• U15gtF6,F6-U15,
• (IF((C16E6)gtD6,(C16E6),D6))
• )

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Management Fee Calc

• True Up 1
• IF(W17Y,0,
• IF((G16-K15T17)gtF6,
• F6-T17,(G16-K15))
• )

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Management Fee Calc

• True Up 2
• IF(V18Y,0,
• IF((I16-K15-M17S18)
• gtF6,F6-S18,(I16-K15-M17))
• )

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Questions?