Top 5 Reasons to Use Microsoft Dynamics GP Project Accounting

Microsoft Dynamics GP’s Project Accounting suite is a robust, highly configurable and flexible module which is fully integrated with other modules within the Dynamics GP product suite. The flexibility of configuration, setup and integration to other modules makes it an attractive choice for tracking financial data by contract, project and cost category. It allows you to maintain complete control over project costs and execution, while also maintaining control over project budgets. The seamless integration with financials, inventory and receivables management ensures accurate billing and financial accounting. In addition, the suite offers Project Time and Expense which allows you to record review and approve timesheets and employee expense reports which allows prompt billing of time and expense and reimbursement of employee expense. Project Accounting also provides integration to the Dynamics GP HR and Payroll suite which allows you to integrate employee time with payroll to avoid having to enter data twice. Let’s look at the top 5 reasons to us Microsoft Dynamics GP’s Project Accounting suite:

  1. Project Accounting is fully integrated with Financials to assist you in maintaining control over project completion deadlines as well as budget limitations. The robust reporting within the Project Accounting suite provides hundreds of customizable reports that allow you to analyze project performance in many different ways without having to write reports from scratch. Because the reports are customizable, they can be modified to fit the way your organization prefers to see reporting on your projects.
  2. Project Accounting has the ability to track an unlimited number of contracts, projects and cost categories which allows you the flexibility to set up projects the way your organization performs work while allowing you to drive General Ledger reporting off the contract, project or cost category.
  3. Project Accounting has the flexibility to allow you to choose from fixed or variable pricing so you are not locked into just one type of pricing model, because as we all know, different customers have different requirements. You can even setup different pricing models for the same customer on different contracts or projects.
  4. Project Accounting allows a number of different and comprehensive revenue recognition methods which give you more control over the way you recognize revenue and allows you to track budget to actual and profitability with comprehensive reporting available right out of the box.
  5. Project Time and Expense make it easy to capture, record and bill employee time and expense, ensuring both accurate and timely billing, easy integration to Payables Management for reimbursement of employee expenses and a seamless integration to the HR and Payroll suite for payment of employee payroll

Project Accounting for Dynamics GP offers the flexibility, precision, tools and reporting that are required to effectively manage your organization’s simple to complex project tracking needs and can be customized to fit a number of different customer verticals including construction, technology, non-profits, professional services,  and financial organizations. Contact us today for a demo of Microsoft Dynamics GP Project Accounting and see for yourself what it can do for you!

Liked what you read and want to learn more? Contact our newest Senior Consultant, Bill McClure, by calling KTL Solutions at 301.360.0001.

BILL MCCLURE | Business Software Consultant

Bill McClure is an accomplished Project Management/Implementation professional primarily focused on Business Solutions consulting within the Microsoft Dynamics GP and Dynamics SL product lines. Bill has extensive experience in the Accounting and Finance arenas, serving in numerous roles including CFO, Corporate Controller, Assistant Controller, and Accounting Manager over the life of his career. Bill has worked with many ERP, Human Resources/Payroll, Time and Attendance, Planning and Budgeting applications over the course of his career, but his primary focus remains Microsoft Dynamics GP and related products. Bill holds Microsoft certifications in virtually every module in Dynamics GP. Bill’s specific areas of specialization within the Dynamics GP product include HR/Payroll, Distribution, Non-Profit Accounting, Project Accounting and system architecture and design. He has a wealth of experience working with many of the larger vertical markets, including Health Care, Pharmaceutical Manufacturing, Non Profits, Insurance and Financial Services, Real Estate/Property Management, Service Management, Professional Services, Oil &Gas, Shipbuilding, and State and Local Governments. Bill has a B.S. in Accounting and an M.B.A with a concentration in I.S. from Spring Hill College in Mobile, Alabama.

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