Microsoft Dynamics GP Project Accounting

Course 8516: Three days; Instructor-Led

On This Page

	Introduction
	Audience
	At Course Completion
	Prerequisites
	Microsoft Certified Professional Exams
	Course Materials
	Course Outline
	Take This Training

Introduction

The 3-day Microsoft DynamicsT GP Project Accounting course explores project management from an accounting perspective. This course teaches you how to create Contracts, Projects, and Cost Categories, and you receive information about how to budget. You also learn how to enter costs for projects and perform both Time & Materials and Progress Billing. 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, CEO's, and consultants who need to understand the technical aspects of Project Accounting and gain foundational 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
•	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: Introduction

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

•	Project Accounting Features and Benefits
•	Project Accounting Overview and Roadmap
•	Integration
•	Holistic view of Project Accounting suite

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
•	Identify the navigation used to access the windows for transactions, reports, utilities, routines, and inquiries in Project Accounting

 

Chapter 2: 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: User Class & User Setup

•	Create a User Class for use in Project Accounting
•	Create a User using the user class

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: Configuration

This chapter focuses on the procedures for configuring Project Accounting. You must examine in detail the options available to customize this module to reflect the way your organization does business. Time is spent discussing the benefits of using different Project Types and Accounting Methods. You create Contracts, Projects, and Cost Categories 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

•	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
•	Contracts and Projects
•	Project Types and Accounting Methods
•	3rd Party Billing
•	Change Order Maintenance
•	Budgeting
•	Templates

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

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:

•	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: Daily Procedures

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, miscellaneous logs, purchasing, inventory, and billing transactions is covered in this chapter.

Main Topics

•	Transaction Entry Overview
•	Posting Overview
•	Timesheet Entry
•	Employee Expense Entry
•	Equipment & Miscellaneous Log Entry
•	Purchase Orders and Receiving transactions
•	Inventory Transfer Entry
•	Billing Invoices
•	Billing Cycle Processing
•	Progress Billing
•	Revenue Recognition Transactions

Lab: Timesheet Transactions

•	Enter and post a Timesheet.

Lab: Employee Expense Transactions

•	Enter and post an Employee Expense.

Lab: Equipment Log Transactions

•	Enter and post an Equipment Log.

Lab: Miscellaneous Log Transactions

•	Enter and post a Miscellaneous Log

Lab: Purchase Orders

•	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.

Lab: Billing Cycle

•	Process Cycle Biller.

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 the different types of transactions in Project Accounting
•	Create and post a Billing invoice
•	Use Cycle Biller to create invoices
•	Enter a Revenue Recognition transaction

 

Chapter 5: Maintaining Records

This section covers administrative topics in Project Accounting. The chapter also discusses topics related to repairing data.

Main Topics

•	Voiding Posted Transactions (Receivables Management)
•	Data recovery and maintenance
•	Mass Contract Delete
•	Initialize Smartlist
•	PA Reconcile

After completing this chapter, students should be able to:

•	Properly void an RM invoice as it relates to Project Accounting
•	Reconcile PA data
•	Use PA utilities

 

Chapter 6: Inquiries & Reports

This chapter examines the functionality available to inquire about your Project Accounting data. This chapter examines the functionality available to report on your Project Accounting records. Basically, this chapter includes details about every report available in Project Accounting.

Main Topics

•	Inquiries
•	Reports Options
•	Printing of reports and accessing information

After completing this chapter, students should be able to:

•	Use any of the inquiry windows in Project Accounting
•	Create a Report Option

 

Chapter 7: Period-End Procedures

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.

You look at the reports that should be printed prior to performing the closing process. Time is spent examining what actually takes place during the closing process and the two types of closings: calendar year and fiscal year.

Main Topics

•	Period-end Checklist
•	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: SmartList

This appendix discusses the use of SmartList to access Project Accounting data. There are also optional exercises that can be completed by students if there is time in class.

Main Topics

•	Using SmartLists
•	Creating Objects
•	Using the Search Button
•	Saving New Objects as Favorites

Lab: PA Projects

•	Create a SmartList inquiry
•	Export the results to Microsoft Word

Lab: PA Timesheet Historical Trx

•	Create a SmartList inquiry
•	Export the results to Microsoft Word

After completing this appendix, students should be able to:

•	Use SmartLists to access valuable Project Accounting data
•	Create new SmartList objects
•	Use the Search button to manage the information in a view
•	Explain the various options that are available when using SmartLists

 

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 C: Answers

This appendix contains the solutions to all the labs contained in the workbook. It also contains solutions for the case study in appendix B.

Main Topics

•

Solutions

After completing this appendix, students should be able to:

•	Complete any of the labs or case study in the workbook.

 

Appendix D: Posting Flow

This appendix contains general ledger debit and credit posting accounts for nearly every transaction type in Project Accounting.

Main Topics

•	Posting flow for

After completing this appendix, students should be able to:

•	Know which accounting will be posted to when transactions are entered in Project Accounting.

 

Appendix E: Reference

This appendix contains reference material to improve your experience with Project Accounting.

Main Topics

•	Implementation Guide
•	List of types of Project Management tools
•	List of Billing invoice reports and their reports writer equivalent names
•	List of billing invoice reports and a description of what is included on the report
•	Glossary of terms.

After completing this appendix, students should be able to:

•	Implement Project Accounting.