Project Series in Microsoft Dynamics GP 10.0
Course 8821: Three Days - Instructor-led
Introduction
The 3-day Microsoft Dynamics GP Project Accounting course explores project management from an accounting perspective. This course teaches you how to create Contracts, Projects, and Cost Categories, and budget. You also learn how to enter costs for projects and perform both Time & Materials and Progress Billing and revenue recognition. During this class, we discuss nearly every feature in the Project Accounting module.
This course will also teach you how to define default values that automatically populate data fields and gather the information you need to make better business decisions by exploring powerful inquiry and lookup functions.
Audience
People who would like to learn features and procedures required to effectively use Microsoft Dynamics GP Project Accounting. Project Accounting training is recommended for anyone who plans to implement, use, maintain, consult, or support Microsoft Dynamics GP. The class is targeted toward data entry clerks, administrators, office managers, and consultants who need to understand the technical aspects of Project Accounting and gain knowledge of the application functionality.
At Course Completion
After completing this course, students should be able to:
| • | Perform all Project Accounting related data entry functions including customer invoicing and cost transactions (Timesheets, Employee Expenses, etc.). |
| • | Perform maintenance on Project Accounting documents and maintenance records such as customers, employees, and vendors. |
| • | Configure Contracts, Projects, and Cost Categories. |
| • | Set up and configure Billing Cycles to facilitate automated billing. |
| • | Create and assign rate tables to manage cost and billing rates. |
| • | Create and use Contract and Project Templates. |
| • | Use reports and inquiry windows in Project Accounting to extract whatever project related information is applicable to your business. |
Prerequisites
Before attending this course, students must have:
| • | General knowledge of Microsoft Windows |
| • | Working knowledge of Microsoft Dynamics GP |
| • | Basic knowledge of accounting principles |
Microsoft Certified Professional Exams
No Microsoft Certified Professional exams are associated with this course currently.
Course Materials
The student kit includes a comprehensive workbook and other necessary materials for the class.
Course Outline
Chapter 1: Overview and System Setup
The purpose of this chapter is to give students a general overview of the features and benefits of using the Project Accounting module in an integrated environment. It also focuses on the integration of this module with other modules in the Microsoft Dynamics GP application. In addition, the chapter presents a holistic view of the Project Accounting suite.
Main Topics
| • | Product Relationships |
| • | Key Concepts |
| • | Integration |
| • | Holistic view of Project Accounting suite |
| • | User Security |
| • | Posting Setup |
After completing this chapter, students should be able to:
| • | Identify the features and benefits available when using Project Accounting |
| • | Discuss integration that takes place between Project Accounting and other modules within the Microsoft Dynamics GP system |
| • | Setup user security for Project Accounting users |
| • | Configure Posting Settings for Project Accounting transactions. |
Chapter 2: Project Accounting Setup
This chapter focuses on the procedures for setting up Project Accounting. We examine in detail the options available to set up this module to reflect the way your organization does business. Time is spent discussing the benefits of using different setup options. You must set up users, default account sources, each of the cost transaction type, and Billing Setup. Once your Project Accounting setup has been completed, you can start to use the Project Accounting module.
Main Topics
| • | Project User Setup |
| • | Project Accounting setup |
| • | Timesheet, Equipment, Miscellaneous, Inventory Transfer, Employee Expense, Purchase Order, Purchasing Invoice Setup |
| • | Billing Setup |
| • | Billing Notes & Reports |
Lab: Project Setup
| • | Setup the Project Accounting module |
Lab: Timesheet, Equipment, Miscellaneous, Inventory Transfer, Employee Expense, Purchase Order, and Purchasing Invoice Setup
| • | Set up the transaction setup window for each of the cost transaction types |
Lab: Billing Setup
| • | Set up the Billing functionality for Project Accounting |
| • | Create a Miscellaneous ID |
After completing this chapter, students should be able to:
| • | Set up the Project Accounting module |
| • | Configure Setup windows for Timesheet, Equipment, Miscellaneous, Inventory Transfer, Employee Expense, Purchase Order, and Purchasing Invoice transaction types |
| • | Configure the Billing Setup window |
Chapter 3: Configuring Master Records
This chapter focuses on the procedures for configuring Project Accounting records like customers, employees, and rate tables. You must examine in detail the options available to customize this module to reflect the way your organization does business.
Main Topics
| • | PA Customer, Employee, and Vendor Options |
| • | Equipment ID and Miscellaneous ID Setup |
| • | Project Accounting Setup and Options |
| • | Cost Category Maintenance |
| • | Rate Tables |
| • | Billing Cycle Maintenance |
| • | Fees |
Lab: Customer Class Setup
| • | Create a Customer Class for use in Project Accounting |
Lab: Employee Maintenance
| • | Add Project Accounting info to the PA Employee Options window |
Lab: Equipment Class Setup & Equipment Maintenance
| • | Create an Equipment Class |
| • | Create an Equipment ID |
Lab: Miscellaneous Class Setup & Miscellaneous Maintenance
| • | Modify an existing Customer Class |
| • | Create a Miscellaneous ID |
Lab: Cost Category Class Setup & Cost Category Maintenance
| • | Add a new Cost Category class |
| • | Create a new Cost Category ID |
| • | Modify existing Cost Categories |
Lab: Position, Employee and Equipment Rate Tables
| • | Create a new Rate Table for each type |
Lab: Billing Cycle Maintenance
| • | Create two new Billing Cycle IDs |
Lab: Fee Maintenance
| • | Create a new Fee ID for each of the four fee types |
After completing this chapter, students should be able to:
| • | Maintain Employee, Customer, and Vendor records for Project Accounting |
| • | Set up Cost Categories |
| • | Create Contracts, Projects, Fees and budget |
| • | Create a rate table |
| • | Create a Billing Cycle |
| • | Create and use templates for Projects and Contracts |
Chapter 4: Contracts and Projects
Time is spent discussing the benefits of using different Project Types and Accounting Methods. You create Contracts, Projects, and budgets to track the information crucial to your company. Once your Project Accounting set up has been defined, there are many reports available to document the selected preferences.
Main Topics
| • | Contracts and Projects |
| • | Project Types and Accounting Methods |
| • | 3rd Party Billing |
| • | Change Order Maintenance |
| • | Budgeting |
| • | Templates |
Lab: Contract Maintenance
| • | Create and configure a new Contract |
Lab: Project Maintenance
| • | Create and configure three new projects one for each Project Type. |
Lab: Template Maintenance & Copying Templates
| • | Create and configure a new template for a contract and project |
| • | Copy the template settings to a new contract |
After completing this chapter, students should be able to:
| • | Create Contracts |
| • | Create Projects |
| • | Budget for Projects |
| • | Create and use templates |
Chapter 5: Transaction Entry
The purpose of this chapter is to define the ways that transactions can be entered and posted in Project Accounting. You explore the difference types of Project Accounting transactions. In addition you must demonstrate posting implications for other Microsoft Dynamics GP modules from Project Accounting and learn the differences between Standard and References transactions. Entering timesheets, employee expenses, equipment logs, and miscellaneous logs is covered in this chapter.
Main Topics
| • | Transaction Entry Overview |
| • | Posting Overview |
| • | Timesheet Entry |
| • | Employee Expense Entry |
| • | Equipment & Miscellaneous Log Entry |
Lab: Timesheet Entry
| • | Enter and post a timesheet |
Lab: Employee Expense Entry
| • | Enter and post an employee expense |
Lab: Equipment Log Entry
| • | Enter and post an equipment log transaction |
Lab: Miscellaneous Log Entry
| • | Enter and post a miscellaneous log transaction |
After completing this chapter, students should be able to:
| • | Enter and post transactions using the transaction level or batch posting method. |
| • | Enter the different types of transactions in Project Accounting |
Chapter 6: Purchasing and Inventory
This chapter covers purchasing and inventory transactions in project accounting. Concepts in this chapter are a continuation of the previous chapter on transaction entry.
Main Topics
| • | Purchase Orders and Receiving transactions |
| • | Inventory Transfer Entry |
| • | Edit purchase orders |
Lab: Purchase Order entry
| • | Enter a purchase order |
Lab: Receiving Transactions
| • | Enter and post a receiving transaction that matches to the previous lab. |
Lab: Purchasing Invoice Transactions
| • | Enter and post a purchasing invoice transaction that matches to the previous lab. |
Lab: Inventory Transfer Transactions
| • | Enter and Post an Inventory Transfer transaction. |
After completing this chapter, students should be able to:
| • | Enter and post purchasing transactions |
| • | Enter inventory transfer transactions. |
Chapter 7: Billing and Revenue Recognition
This chapter examines the creation of billing invoices and revenue recognition. Once costs have been incurred against a project billing invoices are created. This chapter discusses how time & material projects recognize revenue differently from fixed price and cost plus type projects.
Main Topics
| • | Cycle Biller |
| • | Billing Entry |
| • | Time & Material invoicing vs. Progress Billings |
| • | Revenue Recognition |
| • | Cash Receipts applied to invoices |
Lab: Billing Cycle
| • | Process Cycle Biller. |
Lab: Billing Entry
| • | Enter and post billing invoices |
Lab: Cash Receipt
| • | Enter a Cash Receipt |
| • | Apply the receipt to a Project Accounting Invoice. |
Lab: Revenue Recognition
| • | Enter and post a Revenue Recognition transaction. |
| • | Apply the receipt to a Project Accounting Invoice. |
After completing this chapter, students should be able to:
| • | Enter billing invoices. |
| • | Apply cash receipts to invoices. |
| • | Use cycle biller |
| • | Enter and post revenue recognition transactions. |
Chapter 8: Maintaining Records
This chapter examines the processes that are completed at the end of the month, period, calendar, and fiscal year. This chapter focuses on the errors that may cause Project Accounting to be out of balance with the General Ledger.
Main Topics
| • | Aging Process |
| • | Aging WIP Process |
| • | Paid Sales Transaction Removal |
| • | Remove Completed Purchase Orders |
| • | Close Fiscal Period |
After completing this chapter, students should be able to:
| • | Complete the processes that should be performed at the end of the period. |
| • | Complete the processes that may be performed at the end of a calendar or fiscal year. |
Appendix A: Job Aids
This appendix includes a variety of job aids that may be useful for regular users of project accounting.
Main Topics
| • | Posting Flow |
| • | Project Series Implementation Guide |
| • | Billing Invoice Reports |
| • | Glossary |
| • | Checklists – Project Accounting Setup Checklist |
| • | Notes in Project Accounting |
| • | Cost and Profit Sources |
Appendix B: Case Study
This case study is a comprehensive lab that can be used to reinforce the learning that has occurred throughout the Project Accounting class. The Case Study is generally completed by students on their own after class.
Main Topics
| • | Project User Setup |
| • | Transaction Setup |
| • | Employee Setup |
| • | Cost Category Setup |
| • | Templates |
| • | Contract and Project Configuration |
| • | Cost Transaction Entry |
| • | Billing Invoice Entry |
| • | Fee Assignments |
| • | Revenue Recognition |
| • | Reporting |
After completing this appendix, students should be able to:
| • | Understand the necessary processes to set up and manage their Project Accounting module |
| • | Have more confidence in their ability to use Project Accounting in their company |
Appendix A: Reporting
This appendix contains a list of reports available in project accounting.
Main Topics
| • | List of reports |
After completing this appendix, students should be able to:
| • | Print and modify reports in project accounting. |
For more information or to give feedback, send e-mail to info@OneApex.com or call 949-597-2100
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