Dynamics Community Forum Thread Details

Automation of Projects to release revenue and expenses to PL based on event date

Hi there,

The organisation I work for is primarily involved in organising marketing events and campaigns.

Until the campaign or event is completed, revenue is not recognised, however, whilst preparing for the event or campaign as we continue to incur expenditure these are directly coded to various Profit and Loss accounts.

In line with the matching principal ideally both should be released to the P&L in the same financial period (month).

All our event/campaign related costs and revenue are recorded to specific project codes set up in the project module in Dynamics. My question is whether there is a way to automate the project module on a project by project basis based on the event/campaign date to hold any expenses or revenue in the Balance Sheet until we hit the month in which the campaign or event is taking place?

if this isn’t possible is there an alternative such as placing a hold on a purchase order whereby any invoices coded to that specific purchase order are held in the Balance Sheet until the date of the event or campaign is reached or period over which it is being held back has expired.

Thank you.

Hi,

For automation within the project module, the following solutions can be considered:

Utilize prepayments or accounts receivable functionality: You can consider using the "prepayments" or "accounts receivable" functionality to temporarily hold expenses or revenue related to specific events or campaigns. This way, these amounts will be held in the balance sheet until they meet the recognition criteria before being released to the income statement.
Set up custom logic and workflows: By implementing custom logic and workflows, conditions based on the date of the event/campaign can be set to hold the related expenses and revenue in the balance sheet until a specific point in time.

For handling the reservation of purchase orders, alternative approaches include:

Control the invoice recognition date: By setting the recognition date of invoices to occur after the financial period (month) in which the event/campaign takes place, expenses can be held in the balance sheet during that period.

Best regards,

Kevin

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