Project Types in Microsoft Dynamics GP
The Project Accounting module in Dynamics GP is a very robust application enabling users to monitor the financial results of a project. One of the best features with this module is that it ties in with all the other modules within Dynamics GP. Therefore, if an invoice needs to be posted it can be done in the same system. For a company to use the Project Accounting module correctly it must first understand its current project structure and what is required in terms of KPI’s and reporting. Once this has been decided the company will have to choose the project type to use for this project. There are three types of projects in Dynamics GP:
Cost Plus – Customer pays for the actual project cost plus an added margin percentage
Fixed Price – Customer pays a fixed fee for the project
Time and Materials – Customer is billed for all costs that are incurred on a project
Watch this FREE 5-minute video reviewing the three different project types in much more depth.
That was a detailed breakdown of the different kinds of projects that are available inside Dynamics GP. The projecting accounting module offers a lot of features that would require some training to learn everything. WebSan University offers a 7-part series for Project Accounting in Dynamics GP. This can be completed at your own pace, there’s no need to spend thousands of dollars hiring consultants. The courses are available online and are done in an instructional video format. Each video is only an hour long and provides a deep dive into how to navigate the system. The 7-part series for Project Accounting is available for $50 and use the promo code SAVEONPA to receive a 20% off the series.