Microsoft Solomon Project Management & Accounting
Course 8380: Five days; Instructor-led
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Introduction
The 5-day Solomon Project Accounting course explores project management from an accounting perspective. This course will show you how to configure and utilize the four core Solomon Project modules which includes Controller, Allocator, Time & Expense for Projects, and Flexible Billings.
By attending this class you will gain a thorough understanding of Solomon Project Management & Accounting. You will be presented with an overview of the business issues and key implementation strategies encountered with these modules and how they integrate with other Solomon modules. A key component of the course includes a hands-on exercise that allows implementation practice.
Audience
People who would like to learn features and procedures required to effectively use and implement Solomon Project Controller, Allocator, Time & Expense for Projects and Flexible Billings. This course is recommended for anyone who plans to implement, use, maintain, consult, or support these Solomon Project modules. The class is targeted toward anyone who need to understand the technical aspects of these modules and gain foundational knowledge of the application functionality.
At Course Completion
After completing this course, students will be able to:
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• | Understand terminology in the project management environment. | |
• | Explain how maintenance, data entry, and process screens work for each of the modules covered. | |
• | Define projects, tasks, and account categories. | |
• | Identify the navigation used to access the windows for transactions, reports, utilities, routines, and inquiries in Project Accounting. | |
• | Identify the primary pitfalls or challenges in implementing the modules. |
Prerequisites
Before attending this course, students must have:
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• | General knowledge of Windows | |
• | Working knowledge of the Solomon Financial modules | |
• | Basic knowledge of accounting principles |
Microsoft Certified Professional Exams
No Microsoft Certified Professional exams are associated with this course currently.
Course Materials
The courseware includes a comprehensive workbook and other necessary materials for this class.
Course Outline
Section 1: Controller The Project Controller section is designed to give you a comprehensive, practical understanding of the main aspects of setting up and using the Project Controller module. In addition the chapter presents a holistic view of the Project suite.
Main Topics
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• | Project Accounting Features and Benefits | |
• | Project Controller Overview and Roadmap | |
• | Project Controller Implementation plan | |
• | Account categories and task definitions | |
• | Chart of Account and Flexible Key Maintenance | |
• | Code Types and Code Files | |
• | Contract Types and calculation methods | |
• | Project Maintenance | |
• | Maintaining Budgets | |
• | Beginning balances | |
• | Revenue Recognition | |
• | Equipment and Resource Maintenance | |
• | Integration with other Solomon modules | |
• | Financial Transaction Transfer | |
• | Period-end procedures |
Lab: Definitions
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• | Account Categories/Project & Tasks definition | |
• | Setup Account Categories | |
• | Associate Account Categories with General Ledger Accounts | |
• | Set up Project and Task structure | |
• | Category report and GL transfer report |
Lab: Project Controller Setup
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• | Controller Setup | |
• | Code Type & Code File Maintenance | |
• | Complete ID Maintenance | |
• | Flexible Key Maintenance |
Lab: Maintenance Screens
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• | Maintenance screens | |
• | Employee Information | |
• | Enter project and budget information | |
• | Generate a project profile report |
Lab: Transactions & Processes
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• | Enter Beginning Balances | |
• | Enter project charges and print detail report |
Lab: Advanced options
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• | Enter passwords | |
• | Financial Transaction Transfer (FTT) | |
• | Enter Project related vouchers | |
• | Project Inquiries | |
• | Close Project Controller for the period |
After completing this chapter, students will be able to:
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• | Define projects, tasks, and account categories | |
• | Understand how project accounting transactions are created and recorded. | |
• | Analyze project profitability | |
• | Set up the Project Controller module | |
• | Setup and assign employees to projects | |
• | Enter and revise project transactions | |
• | Configure advanced options for equipment and resources | |
• | Perform Financial Transaction Transfer | |
• | Close Project Controller for the period |
Section 2: Time & Expense for Projects
The Time & Expense for Projects training course is designed to give you a comprehensive, practical understanding of the main aspects of setting up and using the Time & Expense for Projects module.
Main Topics
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• | Transaction process flow | |
• | Module strengths | |
• | Audit trails | |
• | Labor Pay types and costing methods | |
• | Time & Expense Setup | |
• | Time policies | |
• | Overtime setup | |
• | Maintaining employees | |
• | Employee/Position rate maintenance | |
• | Workers' Compensation and Union rates | |
• | Timecard transactions & corrections | |
• | Travel and expense setup | |
• | Mobile Time & Expense setup | |
• | Troubleshooting |
Lab: Definition
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• | Design and set up the employee State ID and Labor Classification | |
• | ID Maintenance | |
• | Week Maintenance |
Lab: Time & Expense Setup
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• | Setup the Time & Expense module |
Lab: Employee and Resource Maintenance
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• | Enter employee information | |
• | Enter employee position/rate maintenance | |
• | Generate the employee report |
Lab: Timecard transactions
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• | Enter a timecard | |
• | Inquire on a timecard status | |
• | Approve timecards | |
• | GL Labor Posting |
Lab: Timecard corrections
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• | Enter employee position/rate changes | |
• | Enter and approve timecard corrections | |
• | Generate the timecard report |
Lab: Travel and expense transactions
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• | Complete Time and Expense setup | |
• | Expense type maintenance | |
• | Vendor maintenance | |
• | Enter a travel and expense report |
After completing this chapter, students will be able to:
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• | Define and implement employee labor costing methods | |
• | Describe how labor and expense transactions flow to other modules | |
• | Configure and set up Time & Expense for Projects | |
• | Perform an assignment inquiry | |
• | Enter, review, and approve a timecard | |
• | Enter travel and expense transactions | |
• | Print timecard reports and the employee utilization report |
Section 3: Allocator The Project Allocator training course is designed to give you a comprehensive, practical understanding of the main aspects of setting up and using the Project Allocator module.
Main Topics
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• | Allocator overview and process flow | |
• | Audit trails | |
• | Capabilities of Allocator | |
• | Allocation process | |
• | Indirect rate calculator | |
• | Standard Rate Entry | |
• | Troubleshooting |
Lab: Allocator Setup
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• | Define rate types & rate keys | |
• | Define the rate table hierarchy | |
• | Configure the rates and allocation method |
Lab: Allocation processor
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• | Run the allocation processor |
Lab: Printing reports
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• | Generate Allocation Reports | |
• | Create an Equipment ID |
After completing this chapter, students will be able to:
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• | Set up the Project Allocator module | |
• | Configure an allocation rate table definition and multi-level rate entry | |
• | Complete allocation method setup | |
• | Print reports and run inquiries |
Chapter 4: Flexible Billings The Flexible Billings training course is designed to give you a comprehensive, practical understanding of the main aspects of setting up and using the Flexible Billings module.
Main Topics
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• | Flexible Billings overview and process flow | |
• | Module strengths | |
• | Implementation worksheet | |
• | Billing Policies | |
• | Billing rules and invoice formats | |
• | Costing methods | |
• | Billing information maintenance | |
• | Billing transaction load | |
• | Sales tax processing | |
• | Automatic invoice creation | |
• | Construction billings | |
• | Troubleshooting |
Lab: Flexible Billings Setup
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• | Setup the flexible billings module | |
• | Billing rule maintenance | |
• | Invoice Format maintenance |
Lab: Billing Information maintenance
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• | Defining projects as billable |
Lab: Billing transactions and processes
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• | Load Billing records | |
• | Adjust invoice amounts | |
• | Review and print the invoice | |
• | Post the invoice |
After completing this chapter, students will be able to:
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• | Setup and configure the flexible billings module | |
• | Create a billing invoice | |
• | Define a project as billable | |
• | Make adjustments to invoices | |
• | Enter percent completion | |
• | Perform scheduled billings and revenue release | |
• | Enter a construction billing invoice | |
• | Print a billing report and perform inquiries |
Appendix C: 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
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• | Project Setup | |
• | Allocator and Flexible Billings Setup | |
• | Transaction entry | |
• | Account Category, Project and Contract configuration | |
• | Allocator processing | |
• | Flexible billing invoice creation and processing |
After completing this appendix, students will be able to:
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• | Comprehensively understand the Project Accounting modules described in this courseware. |
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