Microsoft Dynamics GP Project Accounting

Designed as a highly flexible and configurable suite, Microsoft Dynamics GP’s Project Accounting offers 100% control over project execution and costs while also extending robust control over project budgets.

By using Great Plains accounting software, your billing and financial accounting processes can benefit from increased accuracy since the platform can fully integrate with other key modules such as inventory, financial, and receivables management within the Dynamics GP product suite.

One of the reasons why Microsoft Dynamic Accounting Software should be your top choice for tracking financial data either by cost, contract, or project category is because not only does the suite offer easy and flexible setup, configuration, and integration with other modules, but it also offers seamless integration with Dynamics GP HR and Payroll suite.

Thereby enabling easy integration of employee time with payroll – as a result, it effectively eliminates the risk of double entries or duplication of data.

Furthermore, because Dynamics GP’s Project Accounting suite is also designed to provide Project Time and Expense it supports easy recording, reviewing, and faster approval of timesheets and employee expense reports.

This in turn enables businesses to speed up billing of time and expense and reimbursement of the expenses of employees.

Top 5 Benefits of Microsoft Dynamics GP’s Project Accounting Suite

Great Plains Project Accounting offers businesses with multiple benefits for optimizing management and tracking of different projects. Consider these top five benefits;

  • Great Plains Accounting software integrates completely with Financials enabling improved control over both project budget restrictions and its completion deadlines. Designed with robust reporting tools, Dynamics GP Project Accounting suite can deliver multiple customizable reports (based on how you want to read the reports) which help in simplifying project performance – the need to write or create reports from scratch is effectively eliminated.
  • Microsoft Dynamics Great Plains Accounting software can be used for tracking multiple contracts, cost, and project categories thereby offering you with the flexibility to align the setting up of your projects with the work structure of your organization. Furthermore, you can boost General Ledger reporting based on cost, contract, or project categories.
  • The flexibility offered by the Great Plains Dynamics platform makes it easy to select between a variable and a fixed pricing structure that is ideal for your business as well as for your customers. Using Microsoft Accounting Software you can go ahead and setup multiple pricing structures for different customers or the same customer for different projects or contracts.
  • Dynamics GP has also been designed to deliver robust recognition options enabling improved control over managing revenue and tracking budget via extensive reporting tools.
  • Project Time and Expense component allow accurate, timely, and easy capturing, recording and billing of employee time and expense. While seamless integration with Payables Management enables faster reimbursement of employee expenses, and integration with HR and Payroll suite enhance employee payment.

The following project accounting components come with MS Dynamics GP:

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Project Time & Expense for Microsoft Dynamics GP

Expense Reporting

  • All your expense reports can be opened, viewed, and approved, and cleared for payment from one page.
  • You can include new expense reports to projects and use default expense reports for entering other information including the billing and expense type, and method of payment.
  • The same expense report can be used to include both reimbursable and non-reimbursable expenses.
  • Color-coded reports (by status) allow you to quickly identify if a report needs to be resubmitted with changes.

Timesheets

  • The entry of hours worked can be separately attached for every project.
  • For multiple projects with different timelines, the time entry page can be customized to display different time periods either on a weekly or monthly basis.
  • Projects and tasks can be categorized in a hierarchical format which can help simplify the time entry while offering more space to display the days used within a specific time period.
  • Billing notes can be easily included on the customer’s invoice as a means of providing more detailed information.

Review and Approval

  • Expense reports as well as timecards can be easily approved or rejected via the Internet.
  • E-mail alerts can be set up for notifying the submission or approval of timecards or expense reports.
  • You can have multiple approvers to handle reviewing of timecards and expense reports – multiple approvers can also be assigned to make sure that the approvers sign off as required.

Delivered through Microsoft Dynamics GP Portal

  • All Microsoft Dynamics GP Web Portal processes can be accessed via a single network log-in. This includes access to other suites and modules such as Project Time & Expense and paycheck review among others – thus eliminating the need to maintain multiple passwords.
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Project Management Support

With project management support, aligning and setting up tracking of project profitability, as well as project realization and utilization with account integration, personalized revenue recognition, and budget/project configuration is simplified.
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Change Order Management

Using change order management, you can easily set up and track change orders at different budget or project levels. You can do this either by tracking individual line items, or by viewing the original budget before any adjustment or changes were introduced.
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Highly Effective Billing Processes

Automation of your invoicing processes can help ensure your billing options benefit from improved level of flexibility and accuracy. Flexible billing options allows you to bill either by cycle or by the percentage of completion of a project while also allowing you to generate extensive billing accounts for customers.
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Project Inventory Management

GP Plains accounting suite allows you to move inventory items to your project while also having complete control over which items will be used as well as when the items will be available for billing.
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Improved Accuracy with Integrated Financial Management

Benefit from improved levels of accuracy and ensure your all information is updated all through your financial management platform by integrating with inventory control, receivables, payables, as well as along with various other accounting functions.
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Improved Purchase Management

Microsoft Dynamic GP’s Accounting Software allows you to customize your purchase order and the management of receiving system via multiple purchase order formats, project-specific efficiencies, and robust range of user- defined options.
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Flexible and Customized Invoicing

You can select from 60 billing report frameworks that are best suited to your customer requirements to deliver customized invoice formats.
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Track Billing Expenses

You can now track billing expenses such as costs of using equipment among others, to know where you stand exactly when it comes to project cost relative to the revenue.
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Reports

You can categorize your customized reports and worksheets, view them or filter them accordingly to track billings to date, change orders, the revenue per project, among other such key information.
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Intrastat Support

Manage all information pertaining to Intrastat Trade Reports – essential for items that are either sold to or purchased from European Union (EU) vendors/ customers.
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Flexible General Ledger Interface

Microsoft Dynamic General Ledger allows you to take complete control over tracking of revenue, to customize account distributions which also includes sub accounts and different cost categories.
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Multi-bin Inventory Support

You can benefit from warehouse optimization with multi-bin inventory – project purchasing allows you to view and store items spanning specific inventory bins.
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GP Web Portal

Dynamics GP Web Portal supports the creation of expense reports and timesheets and expense reports online for employees while on-the-go – these can then be submitted and approved over the Internet.
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Import Timecards andExpense Reports into Project Accounting

All employee time and expense transactions that are recorded over handheld devices and other such tools or applications can be easily imported into Project Accounting.
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Landed Cost Support

Microsoft Financial Software supports improved accuracy when it comes to project costing and the presentation of additional costs for complete and accurate valuation of inventory – costs such as rolling shipping, import fees, as well as handling charges which are often hidden while creating purchase orders can be factored into the overall cost of the goods.
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Return to Vendor

You can now return incorrect products, or products that you are not satisfied with irrespective of having received the vendor invoice or not. Upon returning the products, the costs will be automatically removed from the project and from the inventory.

New automation will also go ahead and generate credit memos for the billable projects as well as for payables, and provide multidimensional analysis.

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Microsoft Dynamics GP Project Accounting for Your Business

Great Plains Project Accounting software can provide your organization with the required flexibility and accuracy that are essential aspects of project optimization (regardless of the size of the project) in today’s competitive market space.

Designed with a comprehensive array of tools and features, Microsoft Dynamics GP Project Accounting simplifies complex project tracking requirements, optimizes billing, and financial accounting and offers easy setup and customization for a wide range of industries including technology, professional services, as well as financial organizations.

For more information about Microsoft Dynamics GP Project Accounting and how it can benefit your business, please call us at 1.855.MIG.CORP (855.644.2677) or click here to contact us

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Project Accounting in Dynamics GP

Learn how to connect project activities with company financials, streamlines time and expense management, and more with Project Accounting in Dynamics GP.

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Project Accounting

With Dynamics GP Project Accounting capabilities, cash flow is improved and costs are reduced. Full integration among Dynamics GP components streamlines invoicing, time and expense approvals, and reporting.

Download the Fact Sheet (PDF)

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