The video demonstrates how to perform Quote to bill cycle in Project Management and Accounting in Dynamics 365 Finance and Operations. The training includes theoretical concepts revolving around project management and accounting. The demonstration covers the project quotation for a customer for a new project. The work breakdown structure for phase-wise construction projects previously saved as the template is used to create the hour transaction lines which are chargeable to the client.
The quotation, after the review, is sent in workflow for managerial approval. Once approved, it is sent to the client for acceptance against the RFQ received from the client. The option of revision is also discussed for covering the negotiation requirements with the client. On client acceptance, the quotation is confirmed and then transferred to a new project using a wizard.
The project contract is also created along with Ledger integration options as WIP or No-WIP settings. In the project, various phases are discussed so once the project is released the hour transactions are entered as per WBS using timesheet functional also using a workflow which auto approves and posts the chargeable hour transactions. The monitoring and controlling phase which is throughout the duration of a project gives various controls on financials and other factors, including project statement, budget balances, cost and invoice control. This also provides valuable feedback about cost and revenue values, including gross margin and margin per cent.
Finally, the project invoice proposal feature allows billing to the customer based upon summary or detailed formats and allow the consolidation of multiple projects invoices are linked to the same single project contract. A proforma invoice is sent to the customer for an agreement and then the final invoice is posted. The controlling phase again is reviewed based upon revenue recorded after the project invoice has been posted and the correct margin is now reflected based upon revenue minus cost. In this way, the whole flow is covered in project management accounting and further processes will be in future training videos.
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Please check out the pre-requisites training video which is part 1 of this video: https://youtu.be/gbrqwETR3KY
I am a certified Microsoft Trainer (MCT) and consultant manager in Microsoft Dynamics 365 FinOps, SAP S/4 Hana, Power platform, SharePoint, Azure, and Oracle Cloud with over 20 years of global experience in supporting industries as textile, manufacturing, retail, heavy equipment rental, transportation, facility management, building material, construction, and telecom infrastructure. Besides, I also support open-source software for digital needs.
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