Microsoft Dynamics AX | Project Accounting

Project Accounting

The user-friendly Project Accounting module in Microsoft Dynamics AX ERP system delivers a robust platform that aids in managing project finances. Its wide-range functionality enables manufacturing businesses to meet the challenges of growth and provides the necessary insights to compete in a global environment. The Project Accounting solution can support the accounting needs of multiple projects including fixed price, time and materials, and internal projects such as investment and cost and time projects. Project Accounting helps to avoid cost overruns by quickly identifying and addressing production delays.

The enterprise resource planning solution enables improved productivity and cash flow management by fostering tighter control of project accounting. Manage daily administrative, financial tasks and anticipate possible delays with the ability to record completion percentage activities online in real-time. Manage costs for internal and investment projects.

The Project Accounting module helps to obtain tactical business insight by offering full financial overviews and controls with real-time integration across the entire solution. Define new projects quickly by accessing data from the central Microsoft Dynamics AX ERP database. An integrated view into all current and planned projects helps to anticipate bottlenecks in advance. Gain detailed analysis by using account categories to map projects to General Ledger accounts and run detailed reports without complicating the chart of accounts. Project tasks can be categorized by individual properties such as start or end date, capacity load, or by the relationship between tasks.

The Project Accounting module in Microsoft Dynamics AX ERP software offers the following features:

  • Customize menus, forms, and reports with a user-friendly interface that provides built-in help and an intuitive structure.

  • Post and track employee work hours, the status of purchase and sales orders, and deliveries online.

  • Create project hierarchy for maximum efficiency.

  • Post expenses, items, and fee transactions in journals.

  • Streamlined invoicing allows for proposal edits before final invoicing; compare actual project status with the original quotation.

  • Tight integration with General Ledger and supply chain management tools facilitate efficiency and transparency.

  • Create reports for specified periods of time with graphical visuals and see project hierarchy structure using Gantt charts.

  • Manage long-term contracts with milestone-plan invoicing; control costs of Work in Progress (WIP) by progress based on completed percentage or completed contract.

  • Evaluate vendor invoices against project budgets.

  • Integrate Project Accounting with Microsoft Project Server for enhanced flexibility in project planning.