Hey,
I am working within the Public Sector with the MS Public Sector addition in D365 Finance and Operations. We receive grants and funding for projects like buildings.
I am hoping someone can provide best practices within the system for when we want to create a project to build a new gym, for example.
Here's what I need to do, and I'm not sure which way to start:
1. Create a new project and project contract with the Grants that we will be billing for the project work.
2. Create a budget for the gym within the project. (Straightforward)
3. Record the expenses for the project in our WIP/CIP accounts.
a. Record the expenses on our P&L -> this has been asked if it's possible, and I'm not entirely sure, but I'm trying to work through it. The expenses would post to the P&L but also the WIP/CIP, so I'm asking our accountants for more clarity.
4. Bill the project customer through the contract. I.e. Bill the grant.
5. When complete, eliminate the project as a fixed asset.
How are the experts handling this today?
I'll keep searching the forum and Reddit to see if I can work my way through it.
Thanks all!
312
Share
Report
All responses (
Answers (
