Controlling
Dimension Value for Projects
In Projects Setup, Autom. Insert Project Dimension Value controls whether the Project No. is automatically created as a new dimension value for each new project. This is then automatically assigned to the respective Project. If the indicator is subsequently set, a corresponding Dimension Value will also be created for all existing Projects.
Dimension Value for Customers
In the Sales & Receivables Setup, Autom. Insert Customer Dimension Value controls whether the Customer No. is automatically created as a new dimension value for each new Customer. If the indicator is subsequently set, a corresponding Dimension Value will also be created for all existing customers.
Determine proportional Invoiced Shares
If several employees create time recordings for a particular Service, the revenue generated is split between these employees involved. The standard Business Central reports regarding resource statistics have been extended accordingly.
When the app is installed, an entry for the 70920904 (Calculate Proportional Invoiced Shares) report is automatically created in the Job Queue. However, this entry must be started manually once in order to have a valid user.
A Project Ledger entry consumption is created when a time recording is posted. The report calculates the fields Proportionately Invoiced Duration (Hours) and Proportionately Invoiced Amount in the Project Ledger entries as long as Preliminary Invoiced Shares is set to YES. The report sets Preliminary Invoiced Shares to NO, if the corresponding Project Task has the status Closed set. Project Ledger entries with Preliminarily Invoiced Shares NO are not updated by the report. If the status of the Project Task is set from Closed to Time Recording locked or Open, field Preliminary Invoiced Shares is set to YES again.
The calculation of the proportional duration and amount differs based on the value in Preliminary Invoiced Shares.
Only when the Project Task has the status Closed the calculation is carried out using the Project Planning Lines Budget. This results in a final redistribution to all employees who have contributed to the revenue of the Service. As long as the Project Task has the status Open or Time Recordings locked, the calculation is based on the Project Planning Lines Billable.
If the Project Planning Lines has the Service Billing Type Time & Material, Preliminarily Invoiced Shares is automatically set to NO. Time & Material is invoiced 1:1. Subsequent redistribution is therefore not necessary.
Profit and loss accounting (P&L) per project
As this feature has not yet been finally evaluated on the basis of productive data, it will be treated as a Preview until further notice. This primarily means that it should be carefully tested before it is used productively by the customer.
Time Recordings can be included in Financial Reports and related costs, imputed sales prices and invoiced shares can be taken into account when evaluating individual projects. By transferring Time Recordings to specific Statistical Accounts, the system enables the creation of a profit and loss statement per project. This facilitates the tracking and analysis of project expenditure, income and profitability and provides users with valuable information on current project expenditure. It builds on the feature to determine proportional Invoiced Shares.
Registration to Statistical Accounts
After running the Calculate Proportional Invoiced Shares report, a specific series of steps is performed to generate Statistical Accounts Ledger entries in the background. To do this, the system first identifies the last Project Ledger entry that has already been included in the Statistical Accounts Ledger entries. The system then filters the Project Ledger entries using several criteria:
- Ledger entries that are newer (larger Entry No.) than the last Project Ledger entry in the Statistical Accounts Ledger entries,
- Entry Type is Usage,
- Type is Resource,
- Invoicing Document Type and Invoicing No. are not empty.
For each Ledger entry that meets the filter criteria, the system generates three lines in the Statistical Accounts Journal stored in the Projects Setup. Rows are created for each of the columns of the fast tab Analysis by Statistical Accounts. These lines are created on the condition that corresponding Statistical Accounts are specified and that the values in the fields Total Cost, Line Amount and Proportionally Invoiced Amount of the Project Ledger entries are greater than zero.
Values from different fields of the identified Project Ledger entries are used when creating a Statistical Account Journal line for the Total Cost: Posting Date, Document No., Description, Dimensions, and Entry No.. The Statistical Account number for this line is determined by the value of the Service Invoicing Type field of the Project Ledger entry and the Statistical Account number for Total Cost in the fast tab Analysis by Statistical Accounts. In addition, the amount is taken from the Unit Cost (LCY) field of the corresponding Project Ledger entry.
The process for creating Statistical Account Journal lines for the Total Price and the Proportionally Invoiced amount is similar, but differs in terms of the Statistical Accounts to be used. These are based on the other Service Invoicing Types and the setup in the fast tab Analysis by Statistical Accounts. The amount is taken from the Line Amount or Proportionally Invoiced Amount fields of the Project Ledger entries.
Update
If the Calculate Proportional Invoiced Shares report is run (manually or automatically via the Job Queue), the Project Ledger entries are updated if necessary (see determine proportional Invoiced Shares). If there are already corresponding Statistical Accounts Ledger entries for a Project Ledger entry, the update of the Project Ledger entry also updates the corresponding Statistical Accounts Ledger entries (using the Entry No. and the corresponding Project Ledger entry).
Using Statistical Accounts in Financial Reports
Once the Ledger Entries are registered in the Statistical Accounts, they are available for analysis in Financial Reports. To add a Statistical Account to a Financial Report, go to the Row Definitions page of the Financial Reports and select Statistical Account in the Totaling Type field and a Statistical Account in the Totaling field.
For more information about including Statistical Accounts in Financial Reports and how to set them up, see this part of the Microsoft documentation.
Project Ledger Entries - Unit Cost and Unit Price
The calculation of the unit price and unit cost for Project Ledger Entries (Usage), created during the posting of time recordings, differs slightly from the standard in Business Central. Since usage relates to the resource in time recording, both unit cost and unit price come from the resource itself. To minimize rounding errors, the unit of measure is always set to Minutes.
In contrast, Project Ledger Entries (Sales) utilize the unit of measure, unit cost, and unit price from the project planning line (budget).