Project Group in Project Management & Accounting Module
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Can you tell me concept of the Project Group and how can we setup the project group and its ledger accounts.
as i am implementing the project module first time.
Project group is tied to project type. Based on project type, project group can be selected.
Like other grouping in AX, Project group structure is primarily used for ledger account tie up. The properties defined in Project group will be inherited like ledger account which can be made project specific also.
Ledger account is defined at Project group, Project, Category Group or at Category level. You can use as per business requirement.
which ledger accounts can be defined here in the project grouping, as there are some headings, what are the ledger account should be used.
Can you give me the idea or the examples of the businesses in which we can use the project module.
Project accounting module is best suited for industries which is in contractual/service mode. For example, Real estate industries can use project module if they are constructing new building, township etc. A new building can be created as project, they can post expenses and when they sell/lease building, they can realize revenue.
Companies which is involve in fleet business can use project module as they charge their client for the rental of vehicles and also fuels etc.
Even software implementation in itself is a big project, consultants are involved which is cost to company and in lieu of that the company charges to their client.
Project module has extensive application and almost all companies can use it somehow. I will suggest to go through the manuals, understand different modules and then put your doubts here.