ERP Software Logo

Microsoft Dynamics vendors provide comparisons and opinions to professionals in the ERP/Accounting software selection process

 
 

Insight Works

Projects on Time and Under Budget with Dynamics 365 Business Central


    Email | Print

    Here’s a little-known fact: Microsoft Dynamics 365 Business Central delivers to small and medium-sized businesses around the world the capabilities, performance and ease-of-use. If you are looking to grow beyond the limits of your basic accounting software, Dynamics 365 Business Central is the all-in-one business management solution that you’ve been waiting for, boasting easy-to-use and easy-to-adapt elements that help you connect your business and make smarter decisions.

    This reaches all the way to project management tasks, too, as Business Central helps keep projects on time and under budget. Let’s now take a quick look at how this is achieved:

    • Staying on Budget – With Business Central, you can create, manage and track customer projects using time sheets alongside advanced job costing and reporting capabilities. What’s more, you can develop, modify and control budgets to ensure project profitability.
    • Planning with Precision – Manage resource levels by planning capacity and sales, and track invoicing for customers against planned costs on orders and quotes.
    • Analyzing Project Performance – Make effective decisions with real-time insight on project status, profitability and resource-usage metrics.

    Here’s the scoop: Business Central offers a broad range of tools for your project management needs, detailed project planning and control and for your project controlling, with the capacity to set up project-related price lists for items and expenses for the purpose of invoicing. Additionally, you can view unfinished work as well as all costs and settlements on a clearly structured dashboard.

    Project managers can now have a good overview – not only of individual jobs, but also of the allocation of employees, machinery and other resources being used in all projects.

    Let’s now summarize what Business Central brings to the project management table in order of a sequence of tasks:

    • Create jobs, assign job tasks and prepare job planning lines.
    • Allocate resources to jobs and manage resource prices.
    • Create a time sheet with integrated job task and planning lines, and post time sheet lines to a job journal.
    • Budget for resources to be used in jobs and compare actual item and resource usage to budgeted usage to improve quality and cost efficiency of future projects.
    • Review and record usage regarding various parts of a job, a task automatically updated as you modify and transfer information from job planning lines to job journals or job invoices for posting.
    • Purchase supplies for a job, either on purchase orders or invoices, and record item and time usage.
    • Learn about WIP (Work in Progress), a feature that ensures correct financial statements and enables you to estimate the financial value of ongoing jobs.
    • Post the consumption of materials, resources and other expenses of job work in progress (WIP) to monitor its financial value and maintain correct financial statements.
    • Record job costs for resource usage, materials and job-related purchases on an ongoing basis and invoice the customer – either when the job is complete or according to an invoicing schedule.

    Ask This Expert a Question / Leave a Comment