Project accounting session deck VFinal - AXUG

Asim Afridi – June 20th, 2019

D365 F&O Project accounting

2 | Copyright © HSO

Agenda

Introduction – 05 mins Project accounting overview – 10 mins Project contracts & billing – 5~10 mins Forecasting and budgeting – 5~10 mins Project transactions – 5~10 mins Project reporting & analytics – 10 mins Q&A session – 05 mins


HSO: A Global Microsoft Solution Integrator


Key Facts & Figures

ExtensiveExperienceOver 25 years

850+Employees>25 Nationalities

>20 languages

Industry FocusServices, Manufacturing, Retail

Wholesale, Distribution

1500+ Successful ProjectsNational & International

Inner CircleMembers since

2007

Microsoft Gold PartnerFor Microsoft Dynamics 365

ERP and CRM, Productivity & Analytics

Success Proven MethodologyHSO FastForward™

Cloud SolutionProvider (CSP)Expert consultants for

Cloud solutions

International18 Offices in

9 countries


Microsoft Dynamics ERP & CRM

Business Change Implementation

Technical Upgrades/Releases

Functional extensions

Additional companies/acquisitions

Additional workloads

Business Process Optimization

Performance Optimization

Change Management (to standard)

Reactive Support

Application Management

Proactive Support

MANAGED SERVICES

OPTIMIZATIONSEXTENSIONS

IMPLEMENTATIONS

Continuous Lifecycle Support

HSO Capabilities


ERP CRM

Talent

Retail

Finance andOperations

Project ServiceAutomation

Marketing

Sales

Field Service

Customer Service

Dynamics 365

Microsoft Dynamics 365

Data and AI

Azure Applications and infrastructure

Modern workplace

Flow

Power AppsPower BI

CDS


Project management and accounting

Create Project Forecasts and

Budget

Analyze Cash Flow

Project Management And Accounting

Initiate Project Execute Project Analyze Project

Create send and confirm quotations Create Project

Contracts

Create Project and WBS

Build Project Team

Enter Time and Expenses

Monitor and Adjust the WBS

Process Project Invoices

Manage Forecasts and

Budgets

Procure products and

services

Recognize Revenue

Review Profitability

Review InvoicesAnalyze

Utilization


Project Types

Time & material

Fixed price

Investment

Internal

Cost

Time project

The Customer is billed for Costs that are incurred on a project, cost for hours, expenses, items and fees.

Used to track costs on a project that is internal to your organization. This type of project can provide a planning tool to manage resource consumption

Invoiced according to a billing schedule that is based on a project contract, either completed % or completed contract method

Projects that do no produce immediate earnings. They are typically used for long-term internal projects in which the costs have to be capitalized.

Used to track internal projects, and only hours, expenses, and items can be recorded for costs projects

Used to track time that is associated with non-chargeable and non-productive activities e.g., Sick leaves. Transactions in Time projects are not posted to ledger.


Project Concepts

Defines the Project type and Type of accounts that project transactions are posted to

Controls whether transactions are Billable or Non-Billable, accrued or capitalized

Categories represent the types of costs or revenues that are defined for an organization

Groups the categories for inquiry and reporting, needs to be setup prior to categories

Project groups Line Properties Categories Category groups


Project Concepts

Journals

Expenses Hours Fees Beg. Balances


Project Concepts

Ledger Posting

Contains the ledger account mapping for each type of project transaction

Contains Posting rules that apply to either

Individual projects (-or-) Project groups (-or-) All projects (-or-) Categories


Project Concepts

Project hierarchy

Parent project

Parent/Child project

Child project

Child project

Parent/Child project

Child project


Project Concepts

Project Contracts


Project Billing

Project Invoice Proposal Project invoicing

Before creating Invoice for a project, you can create Invoice proposal (simply a preliminary Invoice).

In an invoice proposal, you can select project transactions to include in a project invoice.

Review of Invoice proposals

On-account invoicing: Time and material projects and Fixed-price projects can be invoiced on account

Invoicing in the Periodic section: through the periodic functions, transactions can be invoiced across projects

By using credit notes in invoicing – A credit note can be created for both Time and material projects and Fixed-price projects


Project Budgeting

When should I use a Project budget? Cost Tracking, Analysis or Regulation Revenue Tracking, Analysis or Regulation Audit Trail of Budget Changes Controls around budget approval


Project Budgeting

Key Facts about Project Budgeting Workflow is Required Forecast Models are required

Original & Remaining You must Budget at a Category Level Make sure to Budget for all categories that will be used

Project Budget Balance Constraint if you don’t Independent of GL Budgeting but works with it Closely Related to Forecasts Activities are optional


Project Budgeting

Project CreatedBudget Tracking Turn on

Original Budget Created

Original Budget

Submitted

Original Budget

Approved

Budget is now Active

Original Budget

Revision Created Revision Submitted

Revision Approved

Revision is now Active

Revised Budget

Project Budgeting Process Flow


Project Forecasts

What is Project Forecasting?A method to project and control Cost & RevenueVery similar to Budgeting but no approval process.


Project Forecasting

Project Forecasting – Key facts Forecasts are Transaction Type Specific All project attributes are available for use Unit and Amount driven Forecast Models = Required Copy Functionality Exists Forecast Reduction = Cost Control Can edit forecasts at any time Key component of Completed Percentage Projects Very useful in the Project Reports (Forecast vs Actuals)


Project Forecasting

Forecast Types Original – Your original Forecasted amounts Reducing – Reduces the balance Total – Original + Revisions

Why are there types of Forecasts? There are inquiries that want a specific type forecast


Project Transactions

Project Transactions

Beg. Balance

Expense

Hours

Item

Fees

On-account

Sales order Purchase order

Timesheet

Hours journal

Project expense

AP Invoice journal

General journal


Project Reporting & Analytics

Project statement Provides a quick look at the progress of a project

Invoice control View Invoiced and Non-Invoiced Transactions (Time and material only)

Cash flow Review the In/Outs for your projects

Cost control Track Costs of Projects


Project Reporting & Analytics

Additional Inquiries:ForecastsTransactionsResource SchedulingCommitted CostsRetentionEstimates


Quote


Questions?


Asim [email protected]

We look forward to helping you achieve your business goals and improving your

results.

Thank you!

www.hso.com

Project accounting session deck VFinal - AXUG

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Transcript of Project accounting session deck VFinal - AXUG