A New Face For A New Future: Project Accounting Module In Microsoft Dynamics AX 2012

A New Face For A New Future: Project Accounting Module In Microsoft Dynamics AX 2012

The change in name to Project Accounting Module is itself a testimony to its entrance in a whole new world of innovations and transformations. After the success of its previous versions, a new set of integrations and customizations have been embedded to the Microsoft Dynamics AX 2012.

AX 2012 has given the retail world a new avenue for sales generation, in addition to the age-old retail stores and soon turning out-of-fashion online stores. The greatest transformation in this regard is the introduction of Call Centre, which is a much-talked about newbie among the retail channels.

To top it all, the newly upgraded baby of Microsoft Dynamics offers an array of untouched facets and is expected to be unrivalled in the near future:

Inclusivity:

Updated version of AX 2012 is set to rule the market with its most inclusive version till date, ensuring

  • Recognition to Item charges/costs in the PO,SO and invoice lines of projects
  • An all-encompassing expense account including all taxes for the item charges
  • Rectifying its much critiqued AX 2009 version for lack of advanced funding opportunities, the latest entrant allows the user to extend funding to any number of internal/external parties.
  • Further, there has been a focus on assigning project IDs to all orders (sales, purchase, service, etc.) which has not only integrated entire Project management and accounting, but also made grant tracking easier and centralized.

Master Planning:

A plethora of updated features are offered which are bound to outshine any prior innovations over a decade and take demand forecasting to a heightened level:\

  • The user-friendly current time option is now put into action with delivery date control and capable to promise (CTP)
  • The ability to effectively put Microsoft SQL Server Analysis Services cube to use for generating baseline forecast from historical demand data

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Simplicity:

A commonly cited default in the previous versions was the high towards the schema changes or alterations, which has been a key focal point for this update. The latest update has given a specific emphasis on the removal of certain nonessential fields previously identified in the Project cube perspective. It seems as the crafters are in for attracting a new generation of beginners as well by offering a greater ease of work and adoption.

Some cherry-on-the-cake functionalities:

  • Better usage of Project hierarchy: Freedom to create an original budget which can now be allocated over a period of time
  • An elevated importance to Project Budget showcasing: A clear and transparent display is now presented highlighting the project budget in an all-new way, making budget monitoring and workflow approval much easier through vendor invoice forms, purchase requisition forms, purchase order forms, etc.
  • Inventory and Warehouse Management:  Compare item prices report, BOM journal, and Inventory aging report are undoubtedly the showstoppers which have been redesigned and enhanced for competitive value-processing.
  • Continuity in accounting: There was much buzz about lack of continuity year-to-year in ledger keeping, which has now turned out to be a hyped surprise of the updated AX 2012

All in all, the new Microsoft Dynamics AX comapny offers a complete, all-inclusive and comprehensive budgeting package for the techie souls. It will be interesting (and quite debate-worthy) to see these few but certainly out-of-the-box features come into real action and application in the tech-world.