Project Accounting With Microsoft Dynamics Axapta
Microsoft Dynamics Axapta for Project Accounting helps an organization firmly control its project finances.
MS Axapta for Project Accounting is a good choice because the ERP helps keep a tight check on projects.
1. It offers great support to suit the accounting needs of various project types such as time, material, fixed price projects and internal projects such as investment, cost and time and also those with a WIP component.
2. It helps you identify areas causing delays and also avoid terrible cost overruns.
3. It empowers organizations to assign separate properties for separate project tasks like start as well as end date, capacity load and relationship between tasks. Subsequently, tasks can be scheduled for work center groups and work centers. The Gantt Chart is meant for an overview of the capacity load.
4. AX helps sense any kind of potential delay by making clear the completion percentage of activities to all employees as well as managers. Employees get to record the number of hours they spend at work on a project which makes billing an easy process.
When customized comprehensively by a Microsoft Dynamics Partner Australia, Microsoft Dynamics Axapta for Project Accounting helps improve cash flow management.
1. It acts as a central repository, where employees of an organization can update the status of their projects regularly. This also helps shorten the billing cycle and helps generate invoices within no time.
2. Invoices can be generated in the currency of one’s choice. Also, customers can be billed for multiple projects by creating a single invoice event.
3. MS Axapta makes it easy to predict major cash outflows by helping plan the time when chargeable material and equipment will be most needed.
4. It becomes easy to keep customers updated regarding progress made with projects. Since they are always in the loop, situations where they might feel being unfairly billed can be averted.
5. Through this module, back office systems too can be linked with companies with whom one has a customer/vendor kind of relationship. This helps save time and money as far as administrative tasks are concerned.
After getting the module customized by a Microsoft Dynamics Partner Australia nicely, companies stand a great chance at obtaining strategic business insights.
1. The module helps companies build sustainable hierarchies and sort projects out through specific criteria. This helps understand the true cost of the services.
2. It also helps retrieve actionable data in order to make the process of identifying market trends easy. It helps take on the right projects and helps avoid signing up for those for which requisite resources are not available.
3. Through AX for Project Accounting, companies get to make full use of account categories to map specific parts of a project to the general ledger accounts for a comprehensive analysis. Companies get to summarize by project as well as by cost category type. They also get to define their own posting structure.
4. Transactions can be categorized based on number of hours spent working, costs sustained and items dispensed and revenue to be billed.
5. Dimensions for accounting analysis help run a detailed analysis without having to complicate chart of accounts.
All these and more can be achieved in Project Accounting when done through AX. Project Accounting Managers have reasons to be happy that with the AX, all these tasks written about above will become easy to handle and undertake once the ERP has been completely implemented and customized to suit one’s way of working.
1 people like it
Advertise on APSense
This advertising space is available.
Post Your Ad Here
Post Your Ad Here
Comments