Accounting for Projects

Audience: This course is intended for implementation consultants of the Project Accounting functionality of Acumatica ERP.

Acumatica ERP Experience Required: 3-6 months

Who Should Attend (relationship to Acumatica):

• Partners who implement Acumatica ERP Project Accounting functionality to customers.
• Acumatica end users (customers)

Acumatica ERP version: 2021 R2

Training Description: This webinar provides a set of lessons that illustrate project accounting processes in a midsize company. In the course, you will learn about the project accounting processes in Acumatica ERP. After you complete the course, you will have an understanding of how to perform the basic operations of creating and billing projects in Acumatica ERP. Also, you will learn how to capture costs and time activities on projects, and how to protect project data from editing. You will also learn how to capture project costs and track purchase orders as cost commitments to projects. Finally, you will learn about the functionality of project quotes and how to create a project from project quotes and project templates.

Training Syllabus: The program is covered over four days as follows:

• Day 1: Project Billing. In this session, you will learn how to make sure that the project is pending billing and is ready to be billed. You will run project billing for a single project or multiple projects, process the documents that have been generated during the project billing, and review how the project’s actual amounts are updated with the billed amounts. You will learn how to configure the pro forma invoice workflow for a project, how to create, print, and send the pro forma invoice as an email. You will also add to the pro forma invoice an extra adjustment line that does not originate from project transactions, postpone the billing of a pro forma invoice line, write off a pro forma invoice line partially or fully and create an accounts receivable invoice based on a pro forma invoice.
• Day 2: Budget and Balances. In this session, you will learn how to сonfigure the revenue budget and the cost budget for a project, how to update actual values of the project budget, review project balances, lock original budgeted values and make changes to the locked budget. Moreover, you will learn how to control whether AP bills, purchase orders, and change orders created for a project exceed the project budget and restructure the budget before and after billing. You will enter the accounts payable bill for the project, specify the services to be purchased and release the bill and review the project and GL transactions that are generated during processing a purchase. You will also configure a project to track project inventory by warehouse location, process documents with project-related stock items, and review the GL and project transactions.
• Day 3: Capturing Costs for Projects. In this session, you will learn how to enable tracking of project commitments in the system, how to create commitments by creating a purchase order for a project, and also review how the commitments affect the project cost budget during the processing of the purchase order. You will also enter a billable time activity and card related to a project, and log the time spent for the project; you will bill a project for employees’ time spent working on it.
• Day 4:Creation of Projects In this session you will learn how to create a project template, a common task, a project based on the project template and how to add a task to the project by using the common task. You will also create a project quote based on an opportunity and a project based on a project quote, specify the settings of a quote by using a project template and estimate the potential revenue and costs of a potential project.

Date and time: This training meets the following four times, and attendees are expected to attend all four sessions:

• Mon, December 6, 2021 10:00 AM – 11:00 AM PT
• Tue, December 7, 2021 10:00 AM – 11:00 AM PT
• Wed, December 8, 2021 10:00 AM – 11:00 AM PT
• Thu, December 9, 2021 10:00 AM – 11:00 AM PT

Registration URL: https://webinar.ringcentral.com/webinar/register/9816371658849/WN__jTnHzTcS-ez2uq6rf_8Ag*

*To provide a cloud instance for attendees, we need to generate a registration report and perform some activities to deploy the instance and send out the credentials. All this takes time and we have to do it several hours before the webinar. So we highly recommend not leaving the registration up to the last minute of the webinar start. Everyone who registers after 6 AM PT of Day 1 session will not receive the link to the cloud instance and credentials for it and will have to attend a webinar in a view-only format.

Instructor: Eric Moreau

Prerequisites­

None.

Advance Preparations

None.  Attendees will be provided with a cloud instance and tenant for training purposes.

Training Materials Please download the following training materials that you will need for the training:

• Training guide: Accounting for Projects.pdf
• Files for training: Accounting for Projects Files for Training

Continuing Professional Education

• Program knowledge level: Basic
• Delivery method: Group Internet based program*
• NASBA field of study: Computer Software & Applications
• Maximum number of CPE credits that may be earned by the participant: 4

For more information regarding administrative policies—such as refunds, cancellations, and complaints—please contact Acumatica at 1-888-228-8300.

* We offer CPE credits for this course if you attend the course in the format of an online instructor-led RingCentral session.  During the session, we measure your attentiveness by using polling questions at random times. We provide the certificate if you have completed three polling questions per session. To get the certificate with confirmed CPE credits, after the session is complete, please send a request to training@acumatica.com.

National Registry Statement

Acumatica is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.