Project Management and Accounting Extraordinaire with Dynamics SL – Part 1

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Project-driven companies have unique needs. When they have antiquated methods for collecting day-to-day accounting information outside the accounting staff’s purview, it causes headaches for both the accounting department and project managers, not the least of which is project cost overruns. Microsoft Dynamics SL, Microsoft's flagship solution for project-based organizations, eliminates their pain. Take project accounting for instance. Dynamics SL delivers the following solutions:

Easier Project Accounting

 1 – Connect project and financial information. Link every aspect of your business together, from project accounting, financial management, distribution, field service, and payroll. This linkage makes it easy to capture all project-related expenses.

 2 – Bring accounting and project data into one system. Team members can measure and manage projects with a transparent view of data. This also means redundant data entry is a thing of the past.

3 – Easily capture resource time and expense. Track billable and non-billable project work. Automatically calculate expenses and allocate them to projects and client invoicing.

4 – Improve budget control. Dynamics SL includes powerful tools to create budgets, manage change orders, and compare budget details to actuals.

 5 – Easily reconcile project financials. Set up rules for recognizing revenue on each project and automatically apply them and calculate revenue, eliminating manual reconciliation.

In Part 2, we’ll look at how to solve issues for project managers and how Dynamics SL helps them keep track of hundreds of details so they can deliver projects on time and on budget. This results in increased profitability. Stay tuned.

by Synergy Business Solutions, a West Coast Microsoft Dynamics SL partner.

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