Microsoft Dynamics GP Project Series I Training

The 3-day GP Project Accounting course explores project management from an accounting perspective. This course teaches how to create Contracts, Projects, and Cost Categories, and how 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.

Agenda

Day One: Product Overview; Setup of Project Accounting module 

Day Two: Creating Maintenance Records specifically contracts, projects, and cost categories

Day Three: Enter transactions for timesheets, employee expenses, inventory transfers, purchasing invoices, and purchase orders; Use billing cycles to manage billing invoices

Course Goals

By actively participating in this class you should learn:

• How to create projects and recognize revenue using different project types and revenue recognition methods.
• How to use forecasts and budgets as a basis for measuring project performance.
• How and when to use retention, service, project and retainer fees.
• How timesheet transactions entered in Project can be configured to automatically update the Payroll module eliminating the need for duplicate data entry.
• How vendor invoices and employee expenses can update Payables Management enabling vouchers to be selected for computer checks processing.
• How to analyze profitability and utilization of resources on individual projects based on budget vs. actual amounts.
• How to process customer bills utilizing billing cycles and any of the more than fifty preformatted invoices included with the system.
• How you can use inquiries and reports to view current as well as historical information How to create projects and recognize revenue using different project types and revenue recognition methods.

Who Should Attend

People who would like to learn features and procedures required to effectively use 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 applications functionality.

Prerequisites

Knowledge of Windows and Microsoft Dynamics GP Accounting applications is required. Highly recommend that you attend or are very familiar with the Great Plains Inventory Application class. Experience with cost accounting and project accounting recommended.