What does Microsoft Axapta have in store for Project Managers and Accountants? By working on the premier enterprise resource planning software, there are many things that Projects Managers and Accountants can achieve. These are gaining increased schedule, resource and financial control over short-term as well as long-term internal and external projects.
- Project Management: This capability in Microsoft Axapta empowers project managers and accountants to plan, create, manage, control and complete projects for their organizations including time and materials, fixed price and internal projects like investment, cost and time projects. They get to create a project hierarchy comprising multiple subprojects. They get to easily plan projects, both large and small, by matching their work schedule with resources available for disposal. Further, the work breakdown structure templates ensure planning common types of projects is not that difficult a task.
- Work Breakdown Structures: Microsoft Dynamics Axapta helps Project Managers and Accountants create their own hierarchical work breakdown structures for detailed control. They get to further add detailed information related to scheduling, requirements, estimated cost and revenue and worker attributes.
- Project Resource and Schedule Management: MS Dynamics Axapta offers this functionality to schedule tasks and allocate resources. Accountants and Project Managers get to track factors such as schedules, manpower usage and cost-to-complete.
- Project Time and Expense: The enterprise resource planning software helps capture project time and expense quickly and with accuracy. Project Managers and Accountants get to enter timesheets through the enterprise portal. Time-entry is further supported by an approval process. They will be able to charge better all travel-related expenses against specific projects with expense management. A comprehensive integration with expense management enables expenses to be distributed to a single project or perhaps across multiple projects.
- Project Accounting and Invoicing: This capability in AX helps enter and itemize project costs, employee hours, material used and fees incurred. The billing of projects can be streamlined by creating and editing invoice proposals for hours, items, expenses, sales orders, fees, subscriptions, advance and deduction payments and milestones. Split Billing ensures project costs can be shared between multiple customers and internal organizations. Retention items can be further specified on customer invoices as well as vendor payments.
- Project Quotations: After getting a Microsoft Dynamics Implementation of AX done, Project managers and Accountants will be able to use the work breakdown templates to build accurate project quotations. Furthermore, project quotation profitability helps select the right opportunities and gain deeper project visibility with quotation approval workflows.
- Grant Management: AX helps manage both project and grant funding by either associating multiple funding sources with a project or grant or by optionally linking any transaction to a specific funding source, prioritizing funding sources and restricting funding sources to exclusive activities or classes of expenditures.
- Revenue Recognition and Work-In-Progress: It becomes easy to recognize actual costs in order to avoid potential cost overruns. Accountants get to post and accrue revenue for fixed price based on completion percentage or completed contract. Accountants get to accrue revenue as well as capitalize costs for time-and-material projects in order to recognize gross margin. They get to handle WIP for investment projects before the final elimination of the WIP value to a fixed asset upon completion.
- Interoperability with Microsoft Project: Projects can be integrated with scheduling and resource management capabilities. Project managers and Accountants can also take full advantage of bidirectional interoperability with Microsoft Project for projects, activities, tasks and resource allocation.
- Reporting: Project Managers get to have deeper insights in project management performance with predefined KPIs in the cube. They get to access standard reports which include ones for profit and loss, consumed costs, payroll allocation, invoice on-account, actual versus budgeted costs and cash flow. Utilization control helps get a real-time snapshot of project performance.
All these functionalities mentioned above make it very clear why AX is indeed the safest and most reliable ERP for Project Managers and Accountants.
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