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Dynamics 365 Community / Forums / Small and medium business | Business Central, N... / Using Business Central...
Small and medium business | Business Central, N...
Suggested answer

Using Business Central for Film Project Management/Accounting

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Posted on by Roger Noden 37

Need some advice on how to setup the following use case in Business Central:

 

  1. We will be creating short films that we will promote; so they are not associated with a specific customer
  2. We would like to track expenses against a budget for each film
  3. We want to be able to report on each film individually (Profit/Loss, Budget vs Actual, etc.)
  4. We also need to account for Film Cost Capitalization, Amortization, and Impairment.
    This basically means that the project costs incurred in the ‘research phase’ are expensed as incurred, while costs incurred in the ‘development phase’ are capitalized once the recognition criteria are met. 

 

I'm struggling on how to setup Job/Project Management in Business Central to handle this. Any suggestions?

 

  • CU11031638-0 Profile Picture
    CU11031638-0 2 on at
    Using Business Central for Film Project Management/Accounting
    This discussion on Dynamics Community highlights the importance of collaboration and problem-solving in technology. It reminds me of how the Magis TV app is designed to bring people together through shared entertainment experiences. Just like this forum fosters connections and solutions among professionals, Magis TV creates opportunities for families and friends to bond over meaningful content. Both platforms emphasize the value of connection, whether through technology or entertainment.
  • Ramesh Kumar Profile Picture
    Ramesh Kumar 881 on at
    Using Business Central for Film Project Management/Accounting
    Ho Roger,
     
    Based on the requirement I think standard Business central should be good to setup and process the project account. Please find the below link from Business central documentation which might help you
     
     
    Thanks
    Ramesh
     
    If this helped you, please check the box Does this answer your question?
  • Suggested answer
    CU09030643-0 Profile Picture
    CU09030643-0 2 on at
    Using Business Central for Film Project Management/Accounting

    Hi Roger,

     

    Your use case is a great example of Business Central's flexibility, particularly for project-based industries like film production. To effectively manage film projects, you can set up each film as a separate Job in Business Central and use Job Tasks to divide different phases, such as 'Research' and 'Development.' Assigning costs accordingly ensures that research expenses are expensed directly, while development costs are capitalized once they meet the recognition criteria.

     

    For budgeting, leveraging Job Budgets will help track Budget vs. Actual for each film project, allowing for detailed profit and loss reporting at the project level. When it comes to cost capitalization and amortization, the Fixed Assets module or customized General Journals can be used to track amortization schedules and handle impairments if necessary.

     

    While Business Central covers core functionalities well, you may also want to explore add-ons or external solutions to further streamline your workflows. Platforms like MagisTV (available at https://themagistvpc.com/) specialize in managing creative projects and content-related workflows, offering tools that could complement your setup.

     

    Let me know if you'd like a deeper dive into setting up any of these components!

     

    Best regards,

    Muhammad

  • Suggested answer
    CU13121017-0 Profile Picture
    CU13121017-0 2 on at
    Using Business Central for Film Project Management/Accounting

    Hi Roger,

    Your use case is an excellent example of the flexibility that Business Central can offer, especially for project-based industries like film production.

    Suggested Approach:

    1. Jobs Module for Tracking:

      • Set up each film as a separate Job in Business Central.
      • Use Job Tasks to divide phases, such as 'Research' and 'Development.' Assign costs accordingly, ensuring expenses during the research phase are expensed directly and development costs are capitalized when the recognition criteria are met.

    2. Budgeting:

      • Leverage Job Budgets to track Budget vs. Actual for each film project. This will allow for detailed P&L reporting at the project level.

    3. Cost Capitalization & Amortization:

      • For capitalized costs, use the Fixed Assets module or customized General Journals. This enables tracking of amortization schedules and impairment if required.

    4. Enhanced Solutions:

      • While Business Central handles the core functionalities well, you might also consider exploring add-ons or external solutions to streamline workflows further. For example, platforms like MagisTV (available via themagistv.com) specialize in managing creative projects and content-related workflows, offering tailored tools that could complement your setup.

    Let me know if you’d like a deeper dive into setting up any of these components!

    Best regards,
    Brian

  • CU12121108-0 Profile Picture
    CU12121108-0 4 on at
    Using Business Central for Film Project Management/Accounting
    Hello Dynamics Community,
     
    Business Central is well-suited for managing film projects with these requirements. Set up each film as a Job in Business Central to track expenses, budgets, and report on Profit/Loss or Budget vs Actual. Use Job Task Lines to differentiate between research and development phases, aligning costs with capitalization or expense requirements. For Film Cost Capitalization and Amortization, configure Fixed Assets or General Journals to handle recognition criteria and impairment tracking. A specialized add-on like magis tv english alternative can complement your setup for advanced content-specific management, ensuring seamless workflows tailored for the film industry.
     
    Best Regards!!!
  • Community member Profile Picture
    Community member 2 on at
    Using Business Central for Film Project Management/Accounting
    yes sorry for making the post again, for a long time I have been using Business Central as a tool to manage film projects at filmy4wapin if you suggest a new application please let me know, thanks
  • Community Member Profile Picture
    Community Member on at
    RE: Using Business Central for Film Project Management/Accounting

    thank!

  • Suggested answer
    JAngle Profile Picture
    JAngle 63 on at
    RE: Using Business Central for Film Project Management/Accounting

    Might be worth looking at progressus psa appsource.microsoft.com/.../pubid.progressussoftware|aid.progressuseu|pappid.131f85d1-48f2-481c-8d5a-849b16e388e6

    Covers more than standard does for project accounting. Easier to push through ideas/suggestions than it is with Microsoft (terms of speed)

    The part where you don’t associate with a specific customer for instance. PSA let’s you have multiple customers per project so when you can record revenue you can add a new customer to that project

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