Project management Accounting -11

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[Music] welcome back again uh to the basic

concepts of project management accounting and d365 uh today in the last session we

discussed about carry forward budget uh and how to do that uh

carry forwarding those type of stuff we discussed

I remember I think carry forward budget only we

discussed

so coming to today's session

today Project forecast overview

so normally what is focused a method of project or it it will

control the cost and Revenue uh it's very similar to the budgeting

but up no approval process for the forecast

forecasting will be a transaction type specific and forecast models are required for

this for cash reduction cost control uh those things

and forecast types we have original forecast uh original forecast it will

discuss about your original forecast amount and

reducing forecast reduces the balance and we have a total forecast original

price

revision so let's see the creation of project

forecast

and before going to that I'll go to the parameters to show a few default setups

here for cache model is this and in the cost control we can see that

say here cost control original budget default is forecast

Total Focus and remaining forecast

okay these are the original merge net I can click from here or maybe

you can go to that forecast models

so here you can see the cache model this is very basic level where we have a

different available different things maybe in next coming sessions

if possible I'll explain in more detail analysis by after my testing

so this is for cache models so if your CEO

this is the original first Quest this is model and name and if you want to stop

it you can stop it and we have type here

budget type for example if I take new

so if it is nine budget we have option to focus this one if it is suppose

original budget gone this all the fields are disable

status okay so same way if only these fields

will be available use project date as invest date wap on time material project

WIP on fixer price these all the details automatic forecast reduction expense

these things if the project budget type is none we can select whatever the

requirement is but if you go with reducing balance sorry remaining budget

or original budget or you have carry

forward budget this all the fields will get disabled

so no need to select those details based on the budget type it will go

so for example original budget see here this count so remaining by jet it's they

taken sorry R4 case this is remaining budget like even remaining budget

and T for Quest none they given so now

now if it is uh original budget these types and all for cache models you can

Define in different ways like if it is carry forward budget you can carry a

forward budget type we need to select so this is one thing I want to explain

so let's take this one none type is this one right

so if you see here remaining budget or forecast are forecast

these three fields are enabled that means automatic forecast reduction when

you do the actuals it will automatically reduce your forecast

so let me go to the all projects form

I will go with first first project only and

where we can see all forecasts relates to this project is under plan we have

all I forecast

for example if I take hover forecast

see these many our forecasts they already created in 2016 itself

let me create one

so I'll take original forecast

uh it is assigned with um

none I guess none only forecast model without budget only they

selected in the forecast models so let me cross check

so I am taking this one over forecast it is none and autom this nothing is

selected here so let me go with pm

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this is the general ledger View and see

here it is payroll allocation of credit and uh project costs it is debuting and

revenue it will be productive when you when you do the invoice it will

do the it will book to the customer right

Revenue customer to project invoice Revenue

so type category whatever we selected that is showing here

um in the previous Source also we discussed about how though our journal entry will

work it will be a project cost is debited and payroll allocation is

credited and when you do the invoice customer will be repeated and your

project invoice Revenue will be credited that is what is happening here

if I take this one as a non-bill level let me check the Ledger there will be no

billing to the customer right so it will create only one transaction there will

be no invoice building uh that's why it is Project cost uh debited payroll

allocation credit uh so this is one thing and uh what else I

need to show here

and you can see here scheduling you can

schedule it schedule project management

uh so end and end and start soft link type

soft or hard booking and working time capacity end time and start time you can

uh assign those details as well here resource requirement uh so here

you can provide the requirement uh resource for this hundred hours of load

how many resources you want those details you can provide here

um same way you can pose the expense forecast as well as item Focus

and maintaining the project focus is next concept uh

so in this maintaining project forecast

maintain your focus by copying copy functionality or copy forecast to Ledger

and delete and transfer from quotations transfer from WBS we have these many

functionalities for to maintain the forecast

if to see the maintain forecast you need to go to plan and uh

plan if we have maintained forecast here you can see this copy forecast copy

forecast to laser delete forecast transfer transfer from quotations

transfer from WBS so if you see here copy forecast when

you click on this copy forecast it will ask the what type of transactions you

want to copy and from date and to date project from date and to date copy from

what is the forecast model from from forecast model and to forecast model

copy the latest version if we have latest version if you want to copy the

latest version you can do that as well that is copy forecast

and copy forecast to Lazio

here you can see the profit and loss account WIP payroll allocation what are

the legit types you want to copy same way

you can provide the from date and to date of The Ledger and forecast from forecast model and 2

Ledger budget model this the all the details uh required whatever the details

require that you need to select and click ok

and delete forecast what type of focus that you want to delete and

you can use this delete forecast option

is there anything I missed here

okay next is that we'll discuss about

reducing forecast so we Mark these three fields

like automatic forecast reduction when actuals posted

okay

so when uh when you do this so we need to go to Project

we have so you use budget control this you need

to disable and forecast reduction is there right where if I let me edit it

if you enable this field we already discussed if you enable this these

fields are and this Fields get the uh available these fields come comes into

available and forecast reduction will be grayed

out if when you use the budgeting then whatever the fields availables relates

to budgeting those will be enabled when you enable the forecast reduction

uh then forecast reduction verification

so this is for cash reduction this we are enabling it that means that whatever

the reduction model we selected in the models that will be ah

allowed when you book The actuals it will reduce whatever the setup here we

mentioned in the models automatic reduction it will do that

for example we already posted hover for sorry we

already created hover forecast right I'll make this as a level on sorry

whether I did

let me create it

okay so forecast model

okay 100 hours I given forecast let me close it and reopen again why it

is going off yeah it's game now so now what I'll do is that

I'll go to projects our Journal

lines new

so I'm posting 10 hours

so once I posted the horizontal I'll go to

plan tab and uh hover forecast

okay um where it is 23rd okay T4 cast I selected sorry

uh remaining forecast

so it's taken from

now I'll go to

see 90 here so uh when whatever the forecast will

Define here for individual specific transaction type that means our space uh

hover on account item uh expense will create the uh forecast here and whenever

we post the actual for that particular model it will

automatically uh reduce the forecast based on the posted

actuals so that is one thing I want to show you and

what else I missed

forecast with forecast models I already discussed

forecast models anyway these things I discussed

forecast model side is case okay

these points I already discussed again I introde

and the parameters that default uh

forecast models that I discussed

forecast project forecast and budget integration

importing Focus importing budget it will normally starts with quote WBS

forecast and budget project management accounting project WBS transfer from WBS

so you

and these two transfer from WB is

select or the transactions that you want

and I have forecast model you can select that as well and click ok

so you can select

transaction type as well from here

and

okay and uh what else I missed

[Music] project is budget control

what else used by jet control if you enable this

one this will automatically go off

if you go to the project budget

so we already discussed about this new region revision

and carry forward by just those details uh once that this import will be there

when you do the import budget and then you need to submit to the workflow and

one flow is approved once the workflow is approved then it is fine

reallocation these things we already spoke or maybe in

again we need to do one more session on entire topics that we discussed till now

and project Resource Management next is Project Resource Management let me

connect charger to my laptop because

foreign

scheduling life cycle create a role create resources create Pro

profile create project teams assigned resources

to tasks so those things we'll discuss

and uh we'll review the scheduling on resources

build a team for non-wbs project assigning the resources those type of

stuff will do so if you go to the project and

you'll have this project team and scheduling right

so here

you can add the details so what is the role that you want to add

for this project team member number of resources required for example

two resources required from which date start date

start date is what

let me take start date January 1st

and the end date December 31st

so create

see here these are the this is the thing just we created Team

Member One team member two from date and to date we didn't uh

so we just created the how many resources that you want to assign the

resource servers and specify have a resource servers we

have this option when you click new

hmm foreign

anyway this much time it's taking

maybe if we click no then that will be

better let's see we just click the S so it will take time

it will take more time compared to when you select no

so we'll see

oh it's taking too much time here

we have different options here cancel reservations when when you provide the

reservations you can do the reservations cancel also uh fulfill the plan

addresses whatever the plan resources that you want to plan uh like

how many hours say for example in this two team players

we selected in these two team players uh which one

and need to work how many hours one person need to work with 10 hours

another person it's uh different way right so

that we need to fill here so this is view settings

it's still loading okay it's game I think yeah

it's game now see here two team players

okay and uh to to employers are there for example if

you want to book hovers for team player one

specific hours I'm clicking uh

team player one

number of hours remaining capacity and reserved capacity what is the number

of hours to reserve per resource

Maybe I'll give

100 hours oh I need to click this one

see here is uh

this marking happened right so it's reserved some quantity of hours for

that particular resource see this line also came

100 hours from this state to this state hard booking

okay

and once the reservation is done you can confirm the reservation team player one

is already has been hard reserved okay so it is hard result if it is soft

result you need to confirm it and

so what else so cancel reservations we have here

if you want to book for a second resource

for example

so this period to this period

so this period see notebooking

okay 50 hours result it can cancel the reservation as well

and here um

say that thing so that is resource scheduling

fulfilled resources and when I go to

WBS and

here we have

um where it is

resources sorry here Auto generate team

no planner resource can be proposed

where it is resource scheduling

team player not added here

no planner resource can be proper

so I think

so I actually it's supposed to be here ah under resource if you click Auto

generate Team Auto generate [Music] a team it will generate the team based

on your reservations so maybe I'll show this later

and what else

so defined rules and all

so next is Jesus roles

you can Define the N number of rules here let's see as we see team member

these are the rules you can Define here and configure categories you can

configure what are the skills available needed for this particular role whether

they need accounting or budgeting what are the skills are needed that you need

to assign for example if team member is there for team sorry this is team member

project manager is there for project manager what is required

[Music]

let me take budgeting so this is the criteria that uh

that particular role required so this is role setup you can create a number of

setups here from by clicking new

and whatever choose the rule and you can select that

assign the role to the resource so assigning the role to the resource it

will be in the resource list for example

in the resource list so first is role creation and assigning

the role to the resource so for example this resource

only we have and

as in

other than resource rule here you can Define here what is the role for

this maybe project manager

so this is the way that how we can set up the resource and

same resource can be assigned to the Pro sorry where we can set up the rule and

the same rule how we can assign to the resource

so in okay I'll stop here in the next session we'll create new resource from

the human resource Define calendar

and different rules for the resource and different competencies

these things will go we'll discuss in the next sessions I will stop here

thank you it's very basic level we are going

just Basics what is there and

we are going what is that now maybe in next coming sessions will will plan

same things but with more testing

more testing and error with solutions that will plan

okay thank you