Project management Accounting in D365 live-2

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for

for

okay so we'll start with uh new live uh another live session for

today so let's start with uh different uh

projects yesterday we discussed about investment project but I uh

I disconnected in the mid of posting of item Journal I

guess let's check that first so all

projects only have Journal expense Journal we posted I guess

at the time of uh item Journal posting We got an error message saying that uh

main accounts are missing so this is the journal when I try to post

it we'll get an error message saying that account are missing we'll solve

it

for

okay so we got an error message saying the oh three messages right so we don't

have uh quantity and uh no main account for cost

of project no making account for inventory issue this is the

thing what we can do is that we

need inventory one thing so to get the inventory maybe I I

need to post

some purchases maybe I'll post for quantity or something 5 or 10

quantity we don't have uh vendas as well I

think I need to do many things because we directly came to the project

management

accounting

so for invoicing we don't have any vendors so first we need

to we need to create the we need to create the vendor

Master is that

inventory so let me do one thing VOD maybe I'll

give VOD search name I can do uh when group is mandatory so we'll

create domestic

Windows okay so I'm just created the

window okay so many things are missing we'll

solve it once we get the

mes I'll give the inv DAT

today add the line even here also it won't allow to post us

because uh setups are missing for posting

a so it's not service right so stock

item we will do from

the

h

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for

for

so what is the item model we given

here

so anyway AP will discuss later what I can do is that

uh let's do from the inventory mod

this that will be

easy

so

so inventory adjustment journal or in movement Journal we will post it to get

the inventory so Journal name is missing

first we need to create the journal name inventory

adjustment okay let's take

this and site

Warehouse even here we'll get error message because we didn't set up the

account as of

now okay I'll use 10 quantity will we have different scenarios right so I'll

use 10 quantity and uh 1,000

rupes okay save

post so why I'm doing uh with the missing setup me we'll get the error

message so that uh we'll come to know what is missing where where we need to

set up those things so set up for Ledger account for inventory expenditure profit

is not specified and uh inventory receipt also not specified so these are

the two uh main accounts we need to map let's go to the inventory

postings

sorry so in the inventory tab we have inventory expenditure

profit and I'm giving for the all items as of now

and inventory expenditure profit let's create one

account expenditure

profit okay so let's map this there

407 and uh inventory

received inventory received I'll take uh

07 inventory rece

or isue I'll I'm using the same main account

for both the

17

okay then now let's try to puse this

inventory

adjustment

okay so [Music] then so it's posted now we have the

quantity now if you want to check it out you can check the on hand inventory for

that particular uh

item actually everything is Interlink so we need to be uh come from the back side

that means if you go with the procedure what uh what first we need to do what is

the second if we go with that you won't get where which is missing those type of

things for the what are the links so I'm going directly project management

accounting so that you can come to know like what are the prerequisites for

doing this okay so 10 quantity is there available

now let's go to item journal from the project

management here we got three errors previously and one is one we just

resolved it and we are getting two more errors uh no account for project type

one is this one and second one is inventory issue account is not there so

it's very simple and and uh so where we set up now

postings previously for inventory receipt uh there only we have inventory

issue map the main account here

okay so this is another one if you try to post now you'll get only one error

message saying that uh project cost account is

missing okay no account is exist so let me go to

the particular

project project management

accounting okay so

here

regs previously we set up for only table level which is uh expense and however so

that's the reason uh not set up for the item so that is the reason we are

getting ER mes uh once this is this setup is done try to post the item

Journal it will be I I hope everything we

solved okay

done so come back uh so as of now we did

the investment project creation and uh we posted the H Journal

expense Journal as well

as item

Jour okay this three we posted let's go with fee Journal

see you'll get the error message saying that fee journals cannot be posted to this account

investment for the investment projects free journals are not

allowed okay this is one thing you need to

notice so next

on account transactions also not allowed here invoice also not allowed because we

are not mapped any contract on customer for billing purpose so it's no need to

do inv for the investment investment project is an internal project so no

need actually okay so let's go with one more

project I'll go one by one and there will be many scenarios that we are going

to uh test and uh learn

together okay so investment done I'll go with the cost

project project

we don't have any Group which is relates to cost project which relates to cost project so

I'll create one project group for the cost project previously we created

investment but that is type is investment right so that's the

reason cost

project when you select the cost project almost

everything grade out

okay we'll talk these approvals and I'll

maybe in the coming uh live sessions now I'm going very basic uh

creation not mapping

anything daddy love

Daddy so now cost project created it is directly in progress status because we

have uh map we have create uh only in progress and finished in the

project management parameters level we have only two stages one is directly in

progress [Music] and one is directly in progress and next

is finish status okay so let's start with our

Journal lines

new 10

hours so cost is not different

right so manually we are giving cost um later coming episodes maybe we'll add

the cost prices and sales

prices not posted not allowed to post it

because uh mapping is missing same error messages which we got

previously uh the reason is that we mapped at the table level not at the

all our group level maybe you

can go with

all 3 7 for cost and payroll allocation

also we mapped at the table level not for the all so I'll go with

all this time so table level if it is not there

it will search for the all okay so let's come back

again post it as I told you in the previous live

session or what would be the uh entry uh project cost of the project debited

and paral allocation will be credited why it is giving the same error

message as we ma

right so how category we

given

let me post one more time maybe this is something refreshes

you oh it's still uhhuh okay let's delete the line and

recreate it

for what is this

here why it is

this oh sorry

uh I think I'm setting up for the investment project not for the cost

project so we are booking for cost project right so that's the reason so

I'll go with all categories this time 37 and uh payroll

application [Music]

378 now we mapped for the cost cost

project let's post it okay our Journal

posted if you want to check the journals VES manage step poster

transactions and uh we

watch okay this is the entry cost debited and per allation

credited next is expense

Journal

for same entries so

mostly offset account is not picked because for this

category uhet account is not

back

so I'm Ming [Music] manually if you want to get the main

account automatically default U offset account for expense we need to

map so this you you know that project cost will be debuted and uh

this particular offset account which we mapped here that will be

credited

let's let me go to the poster

transactions this is the expense Journal we watch Project cost and uh

that particular expense offset account okay so same way you have item

Journal as we did now in the investment project we have

item Journal here

lines select the

item line

property cost to it will

come select the category

dimensions and site on

Warehouse cost it th000 is coming from the cost cost of

the invent okay uh at the at this uh Point

uh posting the item journal entry will

be project cost and inventory issue is the in uh entry

vure project cost and inventory issue

okay these are the things and we uh for the cost project F Journal is

not allow and uh on account transactions is not

allowed okay proposal also inv proposal also it's

not I hope you want understood uh investment projects

and cost project this time I'll go with internal

project entries will be same

but we'll post one one one entry for all the projects all the project types maybe

that will be helpful internal

project

internal okay select the project

group create it

okay so from

here post the journal the same way how we have posted

for the investment project as well as uh

cost

project project cost will be debited and payroll allocation will be credited I'm

doing quickly because we have already done same entri for the cost project as

well as investment project uh then it is expense

Journal

so no okay accounts are missing because we

have given own Ledger postings for the

project level not from

the all projects Ledger posting setups

here I'll I'll go with the all option

all option and if table level criteria

is not there system always pick for the all

criteria

for

item Journal I'm posting and uh selecting the mandatory

fields that are

required

h

once this is done we can not do fee journal for this

cost project and uh there is no invoice proposal as well and on account

transactions as well so these are the

things in control tab uh we have project statements

you can check the statements calculate click on

calculate you can see the costs which

are which we booked there is no W

anyway okay done

okay this is the another project let's create one more internal

project Time

Project project group is not there let's create

one project group for

Time prj Time

Project almost everything grade

out okay once the then select

the project

group okay so once project is created

see expenses item feal are not allowed only H journals is allowed uh the

project which is used for tracking the absence uh if anyone

taking if anyone take leave or something like that you you need to book to this

project same same way you can book the H

Journal

poster transactions so not given the price so

that's the reason it's not coming so maybe I'll try with adjustment

I don't know whether amounts are editable or

not cost to price

sales price to

number so adjustment topic we will discuss

later

[Music] okay let's create one how Journal

again

for

same procedure no need to

worry so now

price okay no Ledger postings this point I

don't I want to show you uh no Ledger postings when you book

the absence like for this project GL

postings okay this is all about uh time

project so we did all the four projects

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now

then what we can do is

that so for investment project

um it's not allowed okay once it is

saved it's not allowed to change

it what I can do is that I'll create one more investment

project investment

project w

so investment project sorry investment projects these are not

allowed so this is what I want to show but time and material project we can do

that see not

allowed I'll show you in the standard company as well

ussi project management

accounting

for

when you have investment project it won't allow you to update

these fields even if you create new type also new investment project

type when you select the investment project it won't allow you to book the

book to

I'll come to our screen investment not allowed cost

project see cost project Al oh it's not refreshed I

think let me take one more time

new when you select cost project see these are GED out it's not allowing me

to select the appr okay and when it is um let me

delete it

when it is internal for internal also it's not

allowing us I think it is not allowed for

internal projects Time Project anyway it's not

allowed okay when it

is time and material or fixed price project it will be

allowed so if you go to fixed price

project

only time and material is

allowed I don't think so let's check few other

things fix price fixed price fixed price and

uh fixed price so that means only fix time and

material is

allowed in the previous video I already discussed about time and material

projects so fix price also I think I completed in the

previous uh oh this is new legal entity

right so we'll create it one more time we started with new legal

entity so let me go to PM legal entity

a new legal entity

we started from the

scratch let me take new and the time and material

project TM project

[Music] group we don't have group

here for the time and material projects let's

create project group TM no

W time and project no W I'm giving only the these things and one more project

group sorry same time and

material WP time and material

WP here I'm trying to do

ACS

okay you can see here the standard uh legal entities as

well you can compare it if you have any doubt when you are learning

newly the project management accounting so here you can see time and

material project you have no W and uh

with w and you can Define the default uh line

property as well if you want to do that you can do that as

well okay so we created the time and material

project group okay as I said in the previous

sections uh when it is external projects project contract is Mand

so we need to create the project contract as well in this

case Diamond [Music]

material which one I takeen W

APM maybe project Diamond material contract I'll use like that

funding source is mandatory one more thing funding source is mandatory so

funding source we need to select and sales hierarchy we need to

select okay funding source is not

there let me go to air all

customers

new

customer group is mandatory so we need to create customer as

well just giving some

name so once the project customer created when you click here you can map

the

customer so now project contract has been created as for the external project

contract is mandatory so I'm assigning the contract so we taken with

w

okay let's pause the H Journal

new

lines

category to hours General

tab just giving manually here post

it what happened so these two accounts are not

mapped because of of that we are getting the error message so let's go

here project management

accounting Ledger posting

setup [Music]

L sale

value let me create one account

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W sale

value and I'm just creating

whatever ACR w h

value so

25 and the C Revenue sales value

26 I'm just saving it

so once this is done post

it what happened push button is not coming it's

posted oh

so this is time material

project post

transactions this is the

transaction oh God only two lines it's booked down

so it's let me create one more time our

Journal

for

why it is coming only two whether it is WAP or non WAP

project we got the error message but how

come uh so

project

oh

come it's given the error message but it's

posted

how come that

for

for

for

it's too much how come it is

only let me create one more project

man with the same

steps

for

for

[Music]

h

oh

for

for

for

for

for

for

R the c s

[Music] W sale value

given [Music]

approve

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m

for

for oh my God

man

for

for

[Music] so s it is

not

for

these things

should

for

for

okay let me analyze this on why it is not posting to C accounts uh I get back to you I'll

analyze and I'll update on

this maybe when I start next live session most

probably uh after half an hour might I'll might

start the session again otherwise tomorrow I'll

start why it is

not

posting okay I'll check it out uh let's stop the live

session