Deciding what is the best way to account for project data in Dynamics GP is a widely debated topic. You can always add a segment to your chart of account structure for “project”, but if you have a high turnover rate on projects this option will result in a very large chart of accounts over time. In order to keep the general ledger from growing to large, using a sub ledger is the next best choice. Two built in options are Analytical Accounting (AA), and Multi-Dimensional Analysis (MDA). MDA is very easy to setup but is a bit limited on features. AA offers more features than MDA and is therefore a bit more complex to configure. If you have complex project billing (invoicing) requirements, then you will want to take a look at a 3rd option from the Microsoft Dynamics GP offering called Project Accounting. From a licensing point of view, you most likely own AA and MDA, but you may need to purchase Project Accounting based on when you bought Dynamics GP originally.
In addition to the 3 modules mentioned above, you might want to have a look at a module called Project Tracking from Encore Business Solutions. Project Tracking (PT) is a fully integrated project module built to work with Dynamics GP exclusively. Once installed, it looks and feels just like any other module that comes with Dynamics GP. PT adds a project sub ledger that can be accessed from all transaction entry windows in GP. PT is very easy to use and comes with many user defined fields allowing it to address a wide variety of project reporting needs. In addition to the core functionality, PT has optional add-ins that can be purchased for project budgeting and importing data.
Here are screen shots of some of the Project Tracking windows:
Tridea Partners has implemented all of the solutions mentioned above and we are happy to speak with you to help identify the best option for addressing your project accounting needs.
This article was written by Andy Warner, Dynamics GP Application Consultant for Tridea Partners. Tridea is a leading Microsoft Dynamics provider serving CA, AZ, UT, CO and surrounding regions.
A $200 million pharmaceutical company based in Arizona has selected Tridea Partners and Microsoft Dynamics AX 2012 to support their ERP and business management needs.
One of the leading pharmaceutical (pharma) companies in Arizona has completed a formal system selection process and is moving forward with Microsoft Dynamics AX and Tridea Partners. This pharma company selected Tridea Partners because of their experience in the life sciences and pharma industry. Microsoft Dynamics AX 2012 effectively addresses many of the pharma requirements. “We were able to speak their language around FDA system validation, integration to CMOs and 3PLs, process manufacturing functionality along with presenting a large list of pharma references”, Andy Collins, Partner with Tridea Partners, stated. Ultimately, we were the most expensive system (software and services), but the executive team still presented the recommendation to the Board of Directors to move ahead with Tridea and Dynamics AX.
This life science company has a complex operational model in that they use contract manufacturers (CMO) for some production, but also do internal production. They also currently use a 3rd Party Logistics (3PL) provider, but much of this fulfillment will be moved to the new production facility. They wanted to be certain the new system could support all these different business processes and handle the upcoming growth with their new production facility.
Tridea is a leading Microsoft Dynamics provider serving CA, AZ, UT, CO and surrounding regions.
Last night Andy Collins, Partner at Tridea Partners, and Emily Norausky, Marketing at Tridea, attended San Diego Business Journal’s Top 100 Fastest Growing Private Companies’ award ceremony as Finalists. The Event was great. There’s nothing like being surrounded by some of the top entrepreneurial professionals in your city. Tridea Partners came in 34th for highest percent growth in revenue from 2010-2012 with a healthy 120.80%! We are very honored to receive this recognition and have no plans to slow the growth. Great job to the Tridea team!
Also included on the Top 100 list is local brewery and Tridea client, Stone Brewing Co. It was great to run in to Steve Wagner and the gang at the event and share in the our accomplishments. Cheers to more growth!