Microsoft Dynamics AX Project Funding Limits and Rules (Part 2)

This blog is the second half of a series reviewing funding within a Project Contract (See part 1 here). In this section we will be reviewing funding limits and funding rules. A funding limit holds the amount of money each funding source has allocated to it. Funding rules tell the project transaction which funding source to be allocated against. Utilizing funding limits and rules can allow you to be very flexible with your project transactions and invoicing; like automatically splitting the cost of a transaction between two customers.

Funding Limits

Once you’ve completed the creation of your funding source(s) – see part one of this blog series – you’re ready to assign the limit information.

To get started, navigate to Project Management and Accounting -> Common -> Projects -> Project Contracts 
 

• Find and open your Project Contract.  There will be a Fast Tab called Funding Limits.

As seen in AX 2012:

As seen in AX 7:

• Add a new line for a Funding Limit and then add the details as to what the funding is for. 

  • You must always select a funding source for the limit to be tied to.

  • The funding limit will default to being for all transactions.

  • You can clarify further what the funding is for by selecting:

    • A project and if you’ve selected a project you can then drill down further to an activity.

    • Transaction Type – limiting the funding to hours, expenses, items

    • Category

    • Worker

    • Item Number

• Hint:  You can select complete more than one of these fields

• Once you’ve outlined what the funding is for, then you add the funding amount

  • The funding amount is the limit to which you’re allowed to post charges against this funding source.

  • Should you try to post a transaction and that transaction will put you over the funding limit, you will not be able to post.

• Committed Amount is the amount in project transactions that you have posted, but have yet to be invoiced.

• Spent Amount is the amount in project invoices that have been issued against the Funding Limit.

• The Committed and Spent Amount Fields are not editable – they updated based on the transactions.

Hint:  be sure to set up the funding limit before posting any transactions.

Check out the full post here!