Project Management and Accounting...

Project Management and

Accounting Fundamentals Microsoft Dynamics® AX 2012 R3

Project Management R3: Syllabus and Agenda

Proprietary and Confidential Page 1 of 13 2012

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Table of Contents Course Details ________________________________________________________________ 1

Course Outline ________________________________________________________________ 4

Agenda _____________________________________________________________________ 12

Course Details

This four-day instructor-led course provides students with the knowledge and skill to use and navigate the Project management and accounting module in Microsoft Dynamics AX 2012.

Audience CFO

Controller

Accounting Manager

Bookkeeper Project Manager

At Course Completion This course teaches students to create and set up the Project management and accounting module in Microsoft Dynamics AX, set up invoicing, understand project types, create and enter project timesheets, set up and allocate project budgets, validate projects and validation groups, use forecast models, and set up project invoicing parameters, funding sources, and funding limits. It also describes running an advanced time and material project and running an advanced fixed-price project. Electronic copies of certificates are given out automatically upon completion of a course. If for some reason you don’t receive a certificate or have special circumstances (multiple participants, physical certificates, etc.), feel free to contact us at [email protected].

mailto:[email protected]?subject=Training%20Certificates



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Course Cancellation Policy Junction Solutions reserves the right to cancel courses up to 7 days prior to class commencement due to low enrollment. In the event of a cancellation, Junction Solutions will contact any enrolled students.

Guaranteed to Run This course is Guaranteed-to-Run ("GTR") if hosted by Junction Solutions and a minimum of 4 participants have registered. Once the registration requirement is met, the course is guaranteed to run. If cancelled, it will effective no later than 7 days prior to course commencement.

Travel Guide You are responsible for making all arrangements for travel. We are located in the Denver Technology Center (DTC). You can fly into Denver International Airport (DEN) an most major airlines. It is recommended that you fly the evening before you class is scheduled to begin and depart the evening of the last day of class. On average please allow at least one hour to travel from our office to the airport. 4643 South Ulster St. Suite 400 Denver, CO 80237 For hotel accommodations you can refer to our travel brochure where you can receive discounted rates at local hotels. Because we are located in the heart of the DTC, rental cars are not mandatory. They can be useful if you want to travel around the greater Denver area to see one of our many great tourist attractions.

Payment All work performed shall be performed on a fixed fee basis. Junction Solutions will bill the Client upon execution of the statement of work. Payments must be made before the beginning of the training. Refund Policy: Any cancellations 14 days prior to the scheduled course will be provided a 100% refund. Cancellations 7 days prior to the scheduled course will be provided with a 50% refund. Cancellations within 7 days of course commencement will not be refunded.

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Prerequisites

Students Students attending this section of the course should have a basic understanding of:

General knowledge of Microsoft® Windows®

Basic knowledge of Dynamics AX 2012 navigation

Environment Before the beginning of the first lesson the following materials and equipment will be required:

A LCD Projector*

Projection screen/surface

A white board or

Flip chart stand/paper (optional)

Each attendee will need a Laptop/PC with the following available:

Internet connection

A VPN connection to Junction Solution (The connection information will be provided

by the trainer upon the first day of training).

Junction Solutions Training Academy hosts the training images on a local server in our Denver offices. The VPN connection is required for the participants to connect to the Hyper-V training image. * The instructor can provide a projector if one is not available upon request only.



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Course Outline

Chapter 1: Working with Projects In this chapter, the details of the project will be discussed in detail, focusing on editing project details, project groups, and other details that define projects. The work breakdown structure will also be discussed along with project numbering.

Lessons

Edit project details

Project groups

Project numbering

Project hierarchies o Subprojects

Work breakdown structure

Use of the Project Copy Wizard

Report Sort Fields

Project stages

Exercises

Edit project details

Create subproject

Set Report Sort Fields

Create Work Breakdown Structure

Create/rename project stages

Chapter 2: Project Management and Accounting Setup This chapter is intended to serve as a reference for the setup of Project management and accounting. The parameters from will do the following:

Configure the module functionality

Enter default information that is used by the system if the information is not specified at a lower level

Lessons

Review parameters o General o Financial o Journals o Timesheet o Invoice o Forecast o Estimate o Hour Utilization o Project statements o Project stages o Cost control o Inventory dimensions o Production o Number sequences

Exercises

Configure Project management and accounting parameters



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Chapter 3: Project Types

This chapter will cover the six project types; how they would be used and the differences between them.

Lessons

Discuss the six project types o Time and Material o Fixed-price o Internal o Cost o Time o Investment

Exercises

Create a Time and material project

Create a Fixed-price project

Create a Cost project

Create an investment project

Chapter 4: Time and Materials Projects This chapter focuses on the accounting principles involved with managing Time and Materials projects.

Lessons

Describe a time and material project with WIP

Run a time and material project with WIP

Describe post costs form

Describe time and material project with accruals

Run a time and material project with accruals

Exercises

Run an internal project with WIP

Run an investment project



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Chapter 5: Fixed-Price Projects This chapter discusses the handling of fixed-price projects with its main focus on how to deal with work in process (WIP). It will also describe the estimate system for revenue accruals on these projects.

Lessons

Review concepts of fixed-price projects

Completed contract method

Completed percentage method

Estimate system

Estimate period types

Setup cost templates

Setup estimate projects

Estimate process

Exercises

Create a cost template

Create and post an estimate

Chapter 6: Fixed Price Project with Completed Contract and Completed Percentage This chapter discusses the accounting principles involved with running fixed-price project with the completed contract method of revenue recognition, where revenue is not recognized until the end of the project. It will also discuss the completed percentage where the revenue is accrued in profit and loss accounts throughout the project.

Lessons

The completed contract method of fixed-price contracts

The completed percentage and sales value method for fixed-price projects

Track the financial effects of a fixed-price project with the completed percentage and sales value method

Exercises

Create and run a fixed-price project using completed contract

Create and run a fixed-price project using completed percentage



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Chapter 7: Internal Projects This chapter shows how internal projects are configured to include work in process (WIP) and also investment projects that use the estimate project to track WIP and to capitalize costs.

Lessons

Discuss internal projects with WIP o Cost o Time o Investment

Financial effect of an internal project with WIP

Investment projects

Financial effect of an investment project

Exercises

Run a time and material project with WIP

Run a time and material project with accruals

Chapter 8: Project Transactions This chapter discusses the various transactions that occur with projects. There are several types and there are several ways that they can be entered in Dynamics AX.

Lessons

The four project transaction types

Categories and category groups

Cost prices, sales prices, and price groups

Line properties

Hour transactions

Expense transactions

Item transactions

Fee transactions

Item Requirements

Adjust project transactions

Journals

Ledger postings

Exercises

Create a new category group and category

Set up prices

Create and post project transactions

Enter Invoice Journal

View Project transactions

Adjust project transaction



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Chapter 9: Project Quotations Project management and accounting include a timesheet feature for employees to enter hours and have them approved for the purpose of charging time to projects.

Lessons

Quotation List page

Creating a project quotation

Lines of a project quotation

Sending a project quotation

Confirming a project quotation

Transfer quotation to project

Exercises

End to End – Project quotation

Chapter 10: Project Timesheets Project management and accounting include a timesheet feature for employees to enter hours and have them approved for the purpose of charging time to projects.

Lessons

Timesheet periods

Timesheet parameters

Timesheet workflows

Creating timesheets

Approve timesheets

Missing timesheets report

Exercises

Create timesheet period

Create timesheet workflow

Create a timesheet

Approve a timesheet



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Chapters 11: Project Invoicing A project can be invoiced in two different ways in Dynamics AX: the invoice proposal form is used to create invoices based on project transactions on Time and Material projects, and for Fixed-price projects, predefined payment amounts which are based on project milestones are used to create invoices.

Lessons

Concepts of project invoicing

Project Invoicing setup

Project contract setup

Billing requirements for transactions

Create, adjust, and post invoice proposals

Invoice on-account transactions

Reverse transactions

Exercises

Create project contract

Create invoice proposal

Create an on-account invoice

Chapters 12: Advanced Project Invoicing

This chapter describes advanced features of project invoicing such as funding sources, funding limits, and funding rules and allocations

Lessons

Project invoicing parameters

Setup funding sources

Setup funding limits

Setup funding rules and allocations

Approve or revoke invoice proposals

Exercises

Contract funding sources and limits

Chapter 13: Project Budgeting This chapter discusses the project budgeting functionality within the Project management and accounting module. When project budgets are matched to actual revenue and expenses companies can modify money and resources to match to the budget.

Lessons

Budgeting and forecasting concepts

Budget approval workflow

Create a budget

Allocate budgets across fiscal periods and years

View budget impact and balances

Approve budgets

Manage committed costs

Carry forward budget amounts at year end

Exercises

Create new project and budget



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Chapter 14: Project Forecasting This chapter discusses forecasting in the Project management and accounting module and describes the concepts and how they can be used in all types of projects.

Lessons

Review project budgeting and forecasting

Use forecast models

Enter forecasts

Setup forecast scheduling

Forecasting on hours

Exercises

Create and edit a forecast

Create hour forecast scheduling

Chapter 15: Project Validation Project validation is an optional feature in Project management and accounting that is used to control the recording of project transactions. If it is used, it limits the workers, projects, and categories that are available in the journals and timesheets.

Lessons

Explain project validation

Set up project validation parameters

Enable validation for workers

Set up validation groups

Project validation category assignments

Exercises

Create validation group

Assign employee to single project

Assign project category to a project



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Chapter 16: Project Inquiries and Reports This chapter describes the various inquiries and reports that are used to run projects effectively.

Lessons

Project inquiries o Project statements o Invoice control o Hour utilization o Cash flow o Cost control

Excel export

Reports o Transactions o Cash flow o Profit and loss o Project WIP o Payroll allocation

Exercises

Use the Hour Utilization Screen

View reports



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Agenda

Day 1 Day 2 Day 3 Day 4

9:00 AM Introductions and Project Definition

Time and Material Projects

Project Transactions

Advanced Project Invoicing

10:00 AM

Working with Projects Project Budgeting

11:00 AM Fixed-price projects

12:00 PM LUNCH LUNCH LUNCH LUNCH

1:00 PM Working with

projects Fixed-price projects

Project Quotations Project Forecasting

2:00 PM Project Management and Accounting

Setup

Fixed-price projects with Completed

Contract and Completed Percentage

Project Timesheets Project Validation

3:00 PM

Project Types Internal Projects Project Invoicing Project Inquiries

and Reports 4:00 PM

5:00 PM SESSION END SESSION END SESSION END SESSION END

Project Management and Accounting...

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