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Discover new features in PeopleSoft FSCM PUM 53 for Enterprise Service Automation, including enhanced Project Costing with partial wildcards and exclusion options for simplified billing and rate set configuration.
Oracle has released PeopleSoft FSCM Update Image 53, bringing a range of enhancements across multiple modules to boost efficiency and flexibility. Among the key highlights is a significant improvement in the Enterprise Service Automation (ESA) area, specifically within Project Costing Pricing and Rate Set Configuration.
This update enhances how organizations define, manage, and apply pricing rules and rate sets, offering greater flexibility and control over project cost and billing structures. With improved configuration options, businesses can better align their pricing strategies with project needs, ensuring more accurate cost recovery and streamlined financial management.
PeopleSoft now provides more flexibility in configuring pricing and rate sets by introducing:
These two enhancements simplify setup and maintenance, especially for organizations with complex project billing rules.
When defining rate sets for Project Costing, users often need to manage costs that must be priced differently or excluded from billing.
Earlier, there needed to create multiple detailed configurations to handle exceptions.
With partial wildcard support, we can now configure criteria like *LAB or DIR* instead of adding every single code individually.
Using the new Exclude checkbox, we can mark certain transactions (like internal adjustments or specific expense types) so they won’t flow into billing or revenue recognition.
Imagine a consulting company that manages hundreds of projects with different billing rules:
Without this enhancement, the project administrator would need to create separate rate rules for each exception. Now:
Navigation: Setup Financials / Supply Chain > Product Related > Project Costing > Pricing Structure > Setup PC Rate Sets PC
Step 1: We begin by navigating to the Rate Sets page and selecting Add a New Value. We enter the Business Unit, Rate Set, and Rate Set Type. Once the details are provided, clicking on the Add button allows us to proceed with defining the Rate Set.
Fig 1.1: Creating a new Rate Sets
Step 2: We need to provide a Description for the Rate Set to identify its purpose. The page also allows us to define additional attributes such as Effective Date, Status, and Rate Definition Type. Under the Define Criteria for Incoming Transactions section, we can specify rules that govern how source transactions are processed.
Fig 1.2: Adding Description for the Rate Set
Step 3: We define criteria by selecting an Analysis Type. Using the lookup option, we can choose from a list of predefined Analysis Types such as Actual Cost (ACT), Billing Adjustment (BAJ), or Billable Amount (BIL).
Fig 1.3: Adding the Analysis Type
Step 4: In this step, we can take advantage of one of the new features while defining Rate Set criteria:
Fig 1.4: Adding the Source Type with Wildcard feature
Step 5: Exclude Checkbox – This option allows us to easily exclude specific transactions (such as internal adjustments or expense types) from being processed for billing or revenue recognition.
Fig 1.5: Using Exclude Checkbox feature and Saving the Billing Rule
Take full advantage of the latest FSCM PUM 53 enhancements with Kovaion. Our experts help enterprises simplify rate set configurations using partial wildcards and exclusions—enabling smarter, faster, and more accurate billing operations in PeopleSoft ESA. Whether you’re looking to implement, optimize, or upgrade your PeopleSoft environment, Kovaion delivers tailored solutions to enhance project automation, reduce manual overhead, and ensure compliance.
Partner with Kovaion to modernize your Project Costing framework and drive operational efficiency. Contact us today to unlock the full value of PeopleSoft FSCM PUM 53.
With this update, PeopleSoft further strengthens its Enterprise Service Automation (ESA) capabilities by simplifying Project Costing billing and revenue processes. The introduction of partial wildcards and the Exclude checkbox makes rate set configuration more efficient, reducing setup time and minimizing maintenance efforts.
These enhancements are especially valuable for project-driven organizations like consulting firms, construction companies, IT service providers, and professional services teams. They enable more accurate billing, better control over exceptions, and streamlined financial operations.
By reducing manual configuration and improving billing precision, organizations can achieve greater efficiency, compliance, and cost savings, making this a practical and impactful improvement for real-world project environments.
Author: Nandhini Devi Raman, Sr. Consultant – PeopleSoft
Connect with us for PeopleSoft End-to-End Implementation, Enhancement, Updates, and Support.
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