Understanding Project Accounting Concepts (24%)
Project Types and Accounting Methods
- May include: Definitions, Impact on billing and revenue recognition, distribution account usage.
Project Accounting module and product relationships and integration
- May include: Time and Expense in Business Portal functionality, Personal Data Keeper functionality.
- May include: Relationship of customers, contracts, projects, and cost categories and related classes.
Setting up the Project Accounting Module (19%)
User and User Class settings
- May include: Security setup, User and User Class Project Accounting Setup.
- May include: Project Setup Cost Budget Accounts, Posting flow, Default posting accounts, transaction distributions.
Cost Transaction Setup
- May include: Equipment Logs and Miscellaneous Logs Setup, Purchasing Setup for Project Accounting, Employee Expenses and Timesheet Setup, Inventory Transfer Setup.
Billing and Revenue Recognition Setup
- May include: Billing and Revenue Recognition Setup, Combining for Revenue Recognition, Billing and Revenue Recognition Cycles.
Configuring the Project Accounting Records (21%)
Customer, Vendor, and Employee records
- May include: Project settings for Customers, Vendors, Employees, and for associated classes.
Equipment, Miscellaneous, and Cost Category records
- May include: Equipment, Miscellaneous, and Cost Category Maintenance.
Equipment, Employee, and Position rate tables
- May include: Set up of Equipment, Employee, and Position rate tables, assignment of rate tables, use of rate table wizards.
Contract and Project maintenance
- May include: Set up of Contract and Project maintenance, Project statuses, Project budgets, Creating Templates, Change Orders.
- May include: Definition of fee types, impact of fees on revenue recognition and billing, use of fees on project types.
Entering and Posting Transactions (21%)
Timesheets and Employee Expenses
- May include: Entry and posting of timesheets and employee expenses, correction of posted entries.
Equipment and Miscellaneous Logs
- May include: Entry of posting of equipment and miscellaneous logs, correction of posted entries.
Purchase Orders, Receivings, and Invoices
- May include: Entry of purchase orders, Entry and posting of receiving and invoice transactions, impact of transactions on project and inventory, returns from project entry
- May include: Entry and posting of standard and return inventory transfers, impact on projects and inventory.
Progress and Time and Materials Billings
- May include: Entry and posting of progress and time and materials billings, fee billing, billing returns, cycle billing.
- May include: Entry and posting of revenue recognition, cycle revenue recognition, project type impact on revenue recognition.
Maintaining Records (15%)
- May include: Remove history utilities, Mass Contract Delete, Use of Project Reconciles.
Retrieve Project Information
- May include: Project SmartLists, Initialize PA SmartList utility, Reports, Combine History.
Period End Routines
- May include: Project Aging, Aging WIP, Paid Transaction Removal, Project Closing, Period Closing.