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Finance | Project Operations, Human Resources, ...
Suggested Answer

Project Invoice Proposal with resource days wise

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Posted on by 285

Hi Everyone, 

I am working on project management & account module Ax2012 R3, I have a question that how to configure our invoice proposal resource wise as per number of days allocations, 

Secondly, I require to configure accrued revenue [ accounting] on project type [Fixed price, time & material]. 

I have the same question (0)
  • Suggested answer
    MarkB45 Profile Picture
    755 on at

    Hi Raheel,

    Not 100% on your exact requirements but the invoice proposal functionality would pick up any "chargeable" transactions posted to the project during the invoice period. For Fixed-price projects these are in the form of on-account transaction representing the various project milestones. For T&M projects the transactions billed are the hour/expense/item/fee transaction posted to the project/s.

    When you generate the billing proposal you are asked which transaction types you wish to include.

    Your resources will make booking to projects using the hour/timesheet transaction or through employee expenses. These are then picked up on the invoice proposal to be billed. How you want these to appar on the actual invoice is doe through the particular invoice format which you can customise to your liking.

    Accrued Revenue

    Fixed-price - On-account transaction is posted to WIP account, using Project - WIP invoiced - on account posting type. The revenue recognition process (Estimates) releases these accruals based on the progress of the project using the various cost templates (Cost amount, Quantity, Manual).  This Credits Project - accrued revenue - sales value and then debits project - WIP - sales value (so set this posting to the same account as Project - WIP invoiced - on account to clear out the accrual.

    T&M - For T&M projects you set th accrue revenue flag on against the project group to accrue revenue. Set up the postings for Project - WIP - sales value and Project - accrued revenue - sales value. When a "chargable" transaction is posted the system will accure the revenue and automatically release the accrual when the transaction is invoiced.

    KR

    Mark

  • Raheel Shakeel Khan Profile Picture
    285 on at

    Thank you for sharing very extensive information it would be valuable for me while preparing demo for client.

    Just only one requirement left, which is I am chasing in project management & accounting that how would I manage my assigned resource on project.

    Suppose that, four employees are assigned to project and they have a different cost/sale prices per day.

    Like:

    Employee A - 250 USD per Day - Assistant Mechanic  

    Employee B - 500 USD per Day - Mechanic

    Employee C - 750 USD per Day - Assistant Engineer

    Employee D - 1000 USD per Day - Engineer.

    Project Period for example: 01-March-2022 To 31-March-2022.

    Employees are assigned for the following period on project.

    Employee A & B, 01- March -22 to 15-March-22

    Employee C & D, 16 - March -22 to 31- March -22.

    How and where do I configure in Ax2012 this scenario?

    for the report reference of customer legacy system.

     pastedimage1648817738809v1.png

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