Project Accounting in Microsoft Dynamics AX 2009

Our trainers are qualified Microsoft Dynamics AX functional consultants with significant implementation experience. This results in a rewarding learning experience that gives participants insight into real-life scenarios. Students completing this course should have a good basic understanding of the Inventory, Sales Orders, Purchase Orders.

The Microsoft Dynamics™ AX training sessions are specially conducted for:

• Existing IT resources looking to shift into Microsoft Dynamics™ AX
• IT/AX professionals looking for certification to enhance global career prospect
• IT professionals who are currently working on Microsoft Dynamics™ AX within an organization

Course Title:   MB6-823: Project Accounting in Microsoft Dynamics AX 2009 

Course Duration: 3 days

Course Location: Client Location

Course Code: MB6-823 

Course Description:

The Project Accounting course will help provide you with in-depth knowledge of the projects module. The course comprehensively explores all the project types; which includes principles of the project type, examples of use and how to process them. The course covers topics including setup, configuration, and transaction processing.

In Project Accounting I, you learned the essentials to start using Microsoft Dynamics AX Project. In this course you will greatly expand your knowledge of the software. You may already know how to set up Project, now you will understand setup reasoning and concepts to help make sure Microsoft Dynamics AX Project meets your business needs.

Before attending this course, students must have:

• The ability to use Microsoft Dynamics AX 2009 for basic processing
• Basic knowledge of project accounting principles
• Basic user and conceptual understanding of Microsoft Dynamics AX Project

Prerequisite courses:

• Introduction to Microsoft Dynamics AX

 Relevant Certifications:

•  Microsoft Certified Business Management Solutions Specialist: For Dynamics AX
• Microsoft Certified Business Management Solutions Professional: For Dynamics AX

Course Outline

Setup

This chapter focuses on project setup procedures. In this chapter we will configure an accruable line property, Estimate project, and set up ledger accounts. We will also discuss how to define project periods. We will discuss ledger posting accounts and create cost templates. You will also learn how to set up and use Estimate projects and accruable line properties.

Lessons

• Accruable Line Property
• Setup Ledger Accounts
• Project Periods
• Cost templates
• Estimate projects

After completing this chapter, students will be able to:

• Create accruable line properties.
• Setup applicable ledger posting accounts.
• Define project periods.
• Create cost templates.
• Set up Estimate projects.

Advanced Setup Options

In this chapter we will set up and activate project journal validation. You will learn how project validation can be used to control the recording of project expenditures. You will have the chance to set up detailed restrictions used to control project expenses.

Lessons

• Validation
• Project Validation Setup
• Reports

After completing this chapter, students will be able to:

• Explain Project Validation
• Set up and Activate Project Journal Validation.
• Understand and Recognize Different Available Validation Reports.

Project Control for Internal and Time & Material Projects

This chapter introduces you to advanced internal and time and material projects. Specifically we will cover the use of Work In Process (WIP) and how to accrue costs and revenues.

Lessons

• Internal Project with WIP
• Time & Material Project with WIP

After completing this chapter, students will be able to:

• Work with WIP in internal projects.
• Work with WIP and accruals in time and material projects.

Fixed Price Project Estimate Control

This chapter focuses on the concepts and routines behind estimating fixed-price projects. The usage of Fixed Price Project Estimate Control is an important key to successful project accounting and, in turn, a successful project.

Lessons

• Fixed Price Project and Estimate Control
• The Estimate Control Process

After completing this chapter, students will be able to:

• Create accruable line properties.
• Understand the Concept of How Fixed-price Projects are Run using the Estimate Project.
• Understand the Estimate Control Process.

Internal Cost Project with WIP

This chapter describes the accounting principles involved with running an internal project with work in process (WIP) in Microsoft Dynamics AX Project module.

Lessons

• Characteristics of Internal Project with WIP
• Processing an Internal Project with WIP

After completing this chapter, students will be able to: 

• Set up ledger posting accounts for an internal project with WIP.
• Track the financial effects of an internal project with WIP.

Time and Material Project with WIP

This chapter describes the accounting principles involved with running time and material projects with work in process (WIP) in Microsoft Dynamics AX Project module. You can set up ledger posting accounts and track financial effects when you use this project type.

Lessons

• Time and Material Project with WIP
• Processing T&M projects with WIP

After completing this chapter, students will be able to: 

• Set up ledger posting accounts for a time and material project with WIP.
• Track the financial effects of a time and material project with WIP.

Time and Material Project with Accruals

This lesson describes the accounting principles involved with running time and material projects with accruals in Microsoft Dynamics AX Project. You can set up ledger posting accounts and track financial effects when you use this project type.

Lessons

• Time and Material Project with Accruals
• Processing the T&M Project with Accruals

After completing this chapter, students will be able to: 

• Set up ledger posting accounts for a time and material project with accruals.
• Track the financial effects of an time and material project with accruals.

Fixed Price Project No WIP No Match

This chapter of the Project II manual describes the accounting principles involved with running simple fixed-price projects without WIP and matching in Microsoft Dynamics AX Project. You can set up ledger posting accounts and track financial effects when you use this project type.

Lessons

• Simple Fixed Price Project No WIP No Match
• Processing a Simple Fixed Price Project

After completing this chapter, students will be able to: 

• Set up ledger posting accounts for Simple Fixed Price Projects.
• Track the financial effects of a Simple Fixed Price Project.

Fixed Price Project with Completed Contract and Sales Value

This chapter describes the accounting principles involved with running advanced fixed-price project with the completed contract and sales value principles. You can set up ledger posting accounts and track financial effects when you use this project type.

Lessons

• Fixed Price Project with Completed Contract and Sales Value
• Processing a Fixed Price Project with Completed Contract and Sales Value

After completing this chapter, students will be able to: 

• Learn About Advanced Fixed Price Projects with Completed Contract and Sales Value.
• Track the Financial Effects of an Advanced Fixed Price Project Example using the Completed Contract and Sales Value method.

Fixed Price Project with Completed Contract and Production + Profit

This chapter describes the accounting principles involved with running advanced fixed-price projects with the completed contract and production and profit principles. You can set up ledger posting accounts and track financial effects when you use this project types.

Lessons

• Fixed Price Project with Completed Contract and Production + Profit
• Processing a Fixed Price Project with Completed Contract and Production + Profit

After completing this chapter, students will be able to: 

• Learn About Advanced Fixed Price Projects with Completed Contract and Production + Profit.
• Track Financial Effects on an Advanced Fixed Price Project Example using the Completed Contract and Production + Profit Method.

Fixed Price Project with Completed Percentage and Sales Value

This chapter describes the accounting principles involved with running advanced fixed-price projects with the completed percentage and sales value principles. You can set up ledger posting accounts and track financial effects when you use this project type.

Lessons

• Fixed Price project with Completed percentage and Sales Value
• Processing a Fixed Price project with Completed percentage and Sales Value

After completing this chapter, students will be able to: 

• Learn about a Fixed Price Project with Completed Percentage and Sales Value
• Track the Financial Effects of an Advanced Fixed Price Project Example using the Completed Percentage and Sales Value Method.

Fixed Price Project with Completed Percentage and Production + Profit

This chapter describes the accounting principles involved with running advanced fixed-price projects with the completed percentage and production and profit principles. You can set up ledger posting accounts and track financial effects when you use this project type.

Lessons

• Fixed Price Project with Completed Percentage and Production + Profit
• Processing a Fixed Price project with Completed Percentage and Production + Profit

After completing this chapter, students will be able to:

• Learn about a Fixed Price Project with Completed Percentage and Sales Value
• Learn about Fixed Price Projects with Completed Percentage and Production + Profit.
• Track Financial Effects of an Advanced Fixed Price Project Example Using the Completed Percentage and Production + Profit Value Method.