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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / Project Accounting - P...
Microsoft Dynamics GP (Archived)

Project Accounting - Project as COA segment

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Posted on by Suet Lee 1,351

Hi,

I will like to know generally it is a recommended to set contract and project as part of the Account Segment?

Although i understand that by doing so will provide greater flexibility when it comes to FRx Reporting. In my client's environment, they have a lot of short term projects (2 - 3 weeks). Thus this will be rather cumbersome. As whenever they have a new contract and project, they will have to mass add to all accounts related to the project (i.e Revenue, Cost, WIP etc)

Is this the only ideal way?

Or it is the recommended way GP handles Project Accounting?

Regards,

Suet

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  • Suggested answer
    Frank Hamelly | MVP, MCP, CSA Profile Picture
    Frank Hamelly | MVP... 46,625 Super User 2025 Season 2 on at

    I would not recommend using a segment of the COA for project.  FRX is a financial reporting tool, not an operations reporting tool.  If you want reports over and above the standard project reports and project SmartLists, modify the report writer reports and/or use Crystal or SSRS for custom project report development.  Just my two cents.

  • Community Member Profile Picture
    Community Member on at

    You may want to look at using either Analytical Accounting or Analysis Groups / Codes.   They are NOT a replacement for the project series but are much simplier.   The project requirements will really determine which way is the right way to go.  

    Warren

  • sandipdjadhav Profile Picture
    sandipdjadhav 18,306 on at

    Suet,

    If you have same set of Accounts in all project you can use "Template" options in Project Accounting (Cards--->Project-->Template) that will save your lots of time. Try it and let us know how it goes.

    Thanks

    Sandip

  • Suet Lee Profile Picture
    Suet Lee 1,351 on at

    Thank you so so much for the valuable information. Really appreciate.

    Frank - I know where you are coming from. I will definitely look into what you have proposed. Is definitely a pain to create as part of COA segment.

    Warren - Unfortunately, my client needs to implement Project Accounting. Tracking of all project Budget, Cost, WIP, Revenue, RR.

    Sandip - Will definitely use Template. Is a good feature. But it does not solve where users need to Mass create COA everytime there is a new Project, if Project remains as one of the segment. How  do you implement Project Accounting in your country? Do you maintain it as part of COA segment?

    Suet

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