Seeking Insights on Project Accounting, Fixed Pricing, and Management Reporting in Dynamics 365

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Posted on by RK-29040626-0

Hello Dynamics Community,

I hope this message finds you well. I am currently exploring the concept of Project Accounting within Dynamics 365, specifically in the context of maintenance and manufacturing industries.

I would appreciate insights on the following:

Best Practices: What are some best practices for managing project accounting in Dynamics 365?
Modules: Which modules within Dynamics 365 are most relevant for project accounting?
Fixed Pricing: Can anyone explain the concept of fixed pricing in project accounting? What are some relevant scenarios where fixed pricing is beneficial, and how is it implemented in Dynamics 365?
Management Reporting Tools: What management reporting tools are available in Dynamics 365, and how do they work? Are there specific use cases or scenarios where these tools have significantly improved decision-making?
Supporting Schedules: What are supporting schedules in Dynamics 365, and how do they relate to project accounting?

Your expertise and experiences would be incredibly valuable as I delve deeper into these topics. Thank you in advance for your assistance!

Best regards,

Ravi Karnatak

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VaHiX 3,119 on at

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Seeking Insights on Project Accounting, Fixed Pricing, and Management Reporting in Dynamics 365

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VaHiX 3,119 on at

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Seeking Insights on Project Accounting, Fixed Pricing, and Management Reporting in Dynamics 365

Fixed pricing refers to a billing method where the customer is charged a set price for the entire project, regardless of the actual time and materials used. This method is beneficial in scenarios where:

The project scope is well-defined and unlikely to change.
The client prefers cost certainty.
The project involves repetitive tasks with predictable costs.
In Dynamics 365, fixed pricing is implemented by setting up a project contract with a fixed price billing method. Revenue is recognized based on milestones or percentage completion.

https://learn.microsoft.com/en-us/dynamics365/project-operations/revenue-recognition/rev-rec-percentage-completion-method