What Does the MS Dynamics GP Project Accounting Module Do?

Visit Website View Our Posts

In the 17 years I’ve worked with Great Plains, I’ve received more questions about Microsoft Dynamics GP Project Accounting than any other module. Customers and prospects have asked “What does Project Accounting do?” and “Do you think I need it?”  Below is a brief description of the basics of Microsoft Dynamics GP Project Accounting (PA).  Read on to see if this may be the module for you!

Project Accounting allows you to keep track of revenues and expenses for a specific project, job, drug, or other work subcategory of your company.  It also allows you to group projects together and report on the grouping.  Reporting includes both actual and budget figures.

Some of the questions I ask when trying to decide whether Project Accounting is needed include:

  • Do you need to post employees’ time against projects?
  • Do you need to post employee expenses against projects?
  • Do you need flexibility in billing for the projects?
  • Do you take retainers and apply those to work as it’s performed?
  • Do you have retainage?
  • Do you need to track WIP?

If your answer to any of those questions is “yes”, it’s likely you should take a closer look at Microsoft Dynamics GP Project Accounting.

Other bullets about Project Accounting:

  • Each project can be set up as Time and Materials, Fixed Fee or Cost Plus
  • GL accounting can be based on combinations of factors and can be masked for specific projects.  For instance, if you have a department segment in your chart of accounts, costs can grab the main account segment from the setup of a cost category (budget line item) but grab the department segment from the project itself.
  • Costs can have a set overhead percentage added automatically for some or all costs
  • Costs can have a markup percentage added automatically for billing purposes or can be billed at a specific unit price.  Other choices are also available.
  • You do not have to bill out for a project.  You can use PA or a specific project only to accumulate costs if you wish.
  • PA interfaces directly with Purchase Order Processing (POP), flowing non-inventory costs directly into the project upon receiving.

There are many, many more great features in Project Accounting.  Hopefully the above information gives you a better overall understanding of what the module is designed to do.

At Intelligent Technologies, Inc., we have several people on staff to assist you in implementing any of the Microsoft Dynamics GP modules.  Contact us today to start getting the most out of your software solutions! 

Beth Hodge, Microsoft Business Management Solutions Professional

Intelligent Technologies, Inc. South Carolina Microsoft Dynamics GP Partner

5 thoughts on “What Does the MS Dynamics GP Project Accounting Module Do?”

  1. Could you please walk me through the accounting to closing a project in the project module? Does it close any net income/loss on the project to amount recognized? I just happened to notice that the Project Margin will be 0.00 on a close project, and I know that every project was not a break even. Thanks in advance!

  2. Can Project Accounting keep track of the time that a person spends on a project? I currently use SpringAhead to track the time a person spends for a project so I can allocate the payroll cost to it. I use the services of an outsourcing company for payroll purposes, and I wonder if somehow I can connect the payroll information I receive from them to Project Accounting, so I can allocate that payroll to a specific project according to the time a person spends in a specific project. I need to automate all the process to eliminate mistakes for accounting purposes. I have been using Excel to calculate the time I need to allocate in the accounting system. The entire process is manual, and normally I spend 3 hours to link the payroll info I receive in an Excel spreadsheet to SpringAhead and the accounting system.

  3. Hi,

    It allows you to track all revenue and expenses associated with a specific project/job together in one place to determine profitability without needing to expand your chart of accounts to do so. It also allows you to invoice a customer for the project, using Time and Materials methods (billing based on actual costs) or other methods such as Fixed Fee or Cost Plus.

    I hope this helps! Let us know if there's anything else we can do for you you. Thanks for reading our post!

  4. Cheryl Hamilton

    If I have an invoice that is to be split between Project accounting and general accounting can I enter it all through Project accounting?

Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Show Buttons
Hide Buttons