Creating Credit Memo in Project and Portfolio Management (PPM) Invoice


This article is intended to assist and demonstrate to Financial Information System (FIS) users how to create a credit memo against an open invoice, which also includes the appropriate revenue adjustment to match the changes made. Please note, this article is specific to Project and Portfolio Management (PPM), it does not apply to invoices for sponsored projects or clinical trials generated through SPARCM or Account Receivables (AR) invoices.


Essential Information

Next Steps

Crediting or Cancelling an Invoice

1. Login to Oracle Financial Cloud (OFC).

2. Select Projects and Awards then Contract Invoices.

3. Click the Tasks icon on the far right, in Review and Adjust, select Manage Invoices.

4. In Manage Invoices, Search section, enter Business Unit, Contract Number, in Date, delete entered Date, click Search.

5. In Search Results, select desired Invoice Number that is to be reversed/cancelled.

6. Under Invoice Distributions section, in Details, click Events tab, select desired Event Number, e.g. 5. 

7. In Edit Event, Amount in Bill Transaction Currency, Zero out Event for full refunds, for partial refunds, enter the new revised Amount.

  1. For full credit of the invoice, enter zero (0) in the event amount, save the event, run "Generate Invoices" process and the system will create full refund on the original invoice, which will be in "Draft" status and will need to be submitted for approval.
  2. For partial credit, enter the remaining amount, save the event, run "Generate Invoices" process and the system will reverse the original invoice in full. The credit of the original invoice will be in "Draft" status and will need to be submitted for approval. Run "Generate Invoices" process one more time and the system will reissue a revised invoice in "Draft" state, which will also need to be submitted for approval. Here is how to run "Generate Invoices" job.
  3. In case there was a payment made on the original invoice, it will need to be unapplied and applied according to specific business case scenario. Please open up Services and Support call with FinOps team, instructing them on how to apply already received payment. To open up a ticket, click here.

8. Click Save, warning message displays, click Yes, then Save and Close.

9. Generate Invoice process will run automatically as a scheduled process behind the scenes (every 4 hours).

10. Select Overview tab, then select Draft Invoices tab.

11. Under Invoice Processing Status section, under Draft Invoices, in Search box above Contract Number column, enter Contract Number and  press Enter.

12. Highlight desired Contract Number select Submit.

13. Select Released Invoices tab to review Status is shown as Released.

14. To verify Invoice Credit has been processed, return to Home screen, then Receivables > Billing.

15. Right click Search icon > enter Transaction Number (Invoice), click Search, then Select Transaction Number.

16. Status should show Complete, select Complete, then Credited should display Fully Credited.



If you need any additional assistance, please submit a ticket here.