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Our Project Accounting Webinar Series for Microsoft Dynamics GP is coming to an end this October, with our seventh and last part of the series, Revenue Recognition. We've had an amazing journey so far and we've been excited to receive comments from users all over world, saying how helpful this series has been to their everyday work.


From Project Accounting Setup and Key Concepts to Budgeting, Billing, Reporting, this webinars will teach you everything you need to know about Project Accounting in Microsoft Dynamics GP. This last part will focus around revenue recognition transactions, cost suspension and project closure.

In the meantime, you can catch up with the previous six parts of our series here:

  1. Project Accounting Setup and Key Concepts
  2. Project Accounting Budgeting and Costs
  3. Project Accounting Transactions
  4. Project Accounting Inquiries and Reporting
  5. Project Accounting Billing
  6. Project Accounting Posting Setup and Control

Register for Project Accounting Part 7 – Revenue Recognition on October 16, 11 am EST

Doriana Kote, Web Marketing Coordinator, WebSan Solutions Inc., an Ontario Business Achievement Award 2014 Finalist

Published in Dynamics GP Training

This June WebSan Solutions is holding a new part of the Project Accounting Webinar Series featuring  Inquiries and Reports, aiming to take your skills to the next level.

This webinar will teach you how to view detailed information about cost, billing, revenue and profit amounts for contracts, projects and cost categories.

Below you can get a quick glimpse of what you are going to learn in the Project Accounting Inquiries and Reports webinar:

• Module 1: Cost inquries and reports
• Module 2: Billing inquires and reports
• Module 4: Revenue inquiries and reports
• Module 5: Profit inquiries and reports

Don't forget that the Microsoft Dynamics GP Project Accounting Webinars Series is free and everyone can sign up and follow us on this training journey.

Register now for Part 4 – Project Accounting Inquiries and Reports on June 19, 2014 at 11 am EST

Coming Next – Project Accounting Billing

Doriana Kote, Web Marketing Coordinator, WebSan Solutions Inc., a Channel Elite Awards Winner for 2013

Published in Dynamics GP Training

Learn more about Dynamics GPView Dynamics GP PricingFree Dynamics GP Training

This month WebSan's Project Accounting Webinar Series features Transactions, aiming to take your skills to the next level, whether you are a total beginner or an advanced user in Microsoft Dynamics GP.

This course will help you ensure that project accounting is tightly integrated with the financial management in your organization in order to maximize revenue, reduce leakage and achieve successful project performance.

So are you interested in learning how to set up and enter employee expense transactions for tracking project costs and billing customers? Do you know how to specify payroll pay codes and posting options?

Below you will find the course outline for Project Accounting Transactions and what you should expect learning from this webinar:

• Module 1: Timesheets
• Module 2: Employee Expense Transactions• Module 3: Miscellaneous logs - Fees
• Module 4: Purchasing Documents and Transactions
• Module 5: Inventory Transfers
• Module 6: Item returns

Most importantly the Project Accounting Webinars Series is FREE so everyone can join us on this training journey.

Register now for Part 3 – Project Accounting Transactions on May 22, 2014 at 11 am EST

Coming Next – Project Accounting Inquiries and Reporting

Doriana Kote, Web Marketing Coordinator, WebSan Solutions Inc., a Channel Elite Awards Winner for 2013

Published in Dynamics GP Training

WebSan Solutions has launched the Project Accounting Webinar Series, aiming to take your skills to the next level, whether you are a total beginner or an advanced user in Microsoft Dynamics GP.


Why do you need Project Accounting?

By taking an ordered and logical approach to your project accounting and training methods, you will be able to cut financial costs to your overall business activity.

Also, through logical project accounting and fundamental organisation techniques, you will be able to quickly see a marked improvement in expenditure and customer satisfaction.

Each month our Project Accounting Webinar Series will cover one of the following topics:


• Setup and Key Concepts
• Budgeting and Costs
• Transactions
• Inquiries and Reporting
• Billing
• Posting Setup and Control
• Revenue Recognition

Most importantly, these webinars are FREE so everyone can join us on this training journey.


Don't miss this month Part  2– Budgeting and Costs on April 24, 11 am - 12 pm EST.
Coming Next – Project Accounting Transactions

Published in Dynamics GP
Friday, 18 October 2013 23:30

Project Closing

Once a project is finished, user should close out that project within Dynamics GP.  This helps to avoid errant postings to the project & ensures accurate reporting.

To close a project within Microsoft Dynamics GP, first set the status of your project to Completed within the Project Maintenance window.  Then, navigate to  Project > Transactions > Project Closing to access the Project Closing window.  Within this window, select the Contract Number that the completed project belongs to.  All the completed projects for that contract should then appear in the listing below.  To close a project, check the box under the Close column & select Process.

Users should note that even though a project is set to status of Completed, there may be additional transactions that may need to be completed prior to closing the project.  If additional transactions are required, the box under the C* column will be blank.  To obtain a listing of the transactions yet to be completed for a 'Completed' project, select the blue arrow beside the Project number field within the Project Closing window.  This will open the Project Closing More info window wherein users are presented with a check list of all the tasks required prior to closing the project.

[caption id="attachment_1505" align="aligncenter" width="300"]Project Closing Project Closing[/caption]

There are times when users may have completed check list items, but they do not display within GP as completed.  If this occurs, it is good practice to run the PA Reconcile Utility.  This utility will search through the GP transaction tables to verify what activities have truly been completed.  To access this window, select Project > Utilities > PA Reconcile.  Select a data set to reconcile and then click Process.  The utility is fairly quick depending on the volume of data within your Dynamics GP environment.

[caption id="attachment_1506" align="aligncenter" width="300"]PA Reconcile PA Reconcile[/caption]

 

Adam MacIntosh is a Senior Account & Project Manager with WebSan Solutions Inc, a Microsoft Dynamics GP Partner and 2013 Canadian Channel Elite Awards Winner.  Adam can be reached at This email address is being protected from spambots. You need JavaScript enabled to view it. or 416-499-1235 ext 213.

 

Published in Dynamics GP

Project Accounting connects project activities with company financials and provides extensive reporting capabilities. Watch the following video to learn about invoicing, posting costs from Purchasing as well as timesheets and revenue recognition:

WebSan Solutions offers an online (SaaS) hosted-enterprise business software solution, leveraging the vast capabilities of Microsoft Dynamics GP. If you are interested in GP Project Accounting, please contact us for more information.

Doriana Kote, Marketing Assistant, WebSan Solutions Inc., a Channel Elite Awards Finalist for 2013

Published in Uncategorized