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    December 16, 2020

    Year-end closing best practices part 4: Dynamics SL – project controller module

    This is Part 4 in a series for Microsoft Dynamics SL year-end closing best practices. This blog outlines the year-end closing for the Project Controller Module in Dynamics SL. Below you’ll find a checklist of steps with detailed information.

    The series covers the following:

    Note: Year end is a good time to test the Dynamics SL Database Backups to make sure they work. The last thing you need is to discover that your backups don’t work when you need them. After testing, perform backups of the Application and System databases before starting the year-end closing process. 

    Year-End Closing for Project Controller Module

    Follow these steps beginning the closing process in the Project Controller Setup screen:

    Project Controller Setup (PC Options and Setup Tab)

    project-controller-setup---PC-Option-and-Setup-Tab

    1. Review Modules Checked in Period Cls to make sure Project Controller is checking the Financial modules you are using so you can confirm project transactions are transferred to Project Controller.
    2. Review Financial Modules Integrated. This field indicates the modules with transactions that are transferred to the Project Controller module using Financial Transaction Transfer.
    3. Review Allow Posting of a Financial Batch to a Prior Period. If checked, skip Step 4 and go on to Step 5.
    4. If Allow Posting of a Financial Batch to a Prior Period is unchecked, perform these steps:
    5. Review each of the modules identified in Step 1 to make sure there are no open batches for the period/year you are trying to close.
    6. Run Financial Transaction Transfer (PA.TRN.00) to ensure all transactions have been moved to Project Controller. 
    7. Confirm all batches in Project Charge Entry (PA.CHG.00) are released.
    8. If using the Time and Expense for Projects Module, confirm all labor transactions have been posted to the General Ledger.
    9. Confirm all batches in Project Allocator are processed.
    10. Run Indirect Rate Calculator (AL.IRC.00) if Dynamics SL calculates actual indirect rates.
    11. Log off Dynamics SL and back up the database.
    12. Related to indirect rates, run Close Project Year At Actual (AL.CPA.00). This updates projects with a difference between target and actual, as well as updates the PJPTDAIC and PJYTDAID tables with the balance forward information. Make sure you do this before the General Ledger Closing (01.560.00), before you close Project Controller for the year and only after you are satisfied that all transactions are entered and allocations have run.
    13. If any of the above checks fail, you’ll receive an error message and period closing will stop. Review the content of the errors and correct. Try closing the period again.
    14. If Close Period (PA.CLO.00) detects that the period you are trying to close is the last period of the fiscal year, then the Begin Processing button will change to Begin Year-End Close. When you click the button, balance forward amounts are calculated for those projects that have their balance forward switch on in Project Maintenance, and summary records are written for the new year. This is the only difference from a regular period end close.

    In this instance, Close Period will look like this:

    Close Period Example

    If errors appear in the messages area, correct the error condition and re-run Close Period. Errors are typically caused by open batches in integrated modules. View the list of modules checked in the Modules Checked in Period Cls field of Project Controller Setup (PA.SET.00).

    If you close the year and discover there is another transaction in the closed fiscal year that needs to be processed, re-open the year in the Project Controller Setup screen and change the current period back to the period of the transaction that needs to be entered. It is important to perform the Close Period (PA.CLO.00) again to close the period or else the project balances will not roll forward correctly.

    Remember: Move the period backward using Project Controller Setup. Move the period forward using Close Period.

    Project Controller Setup (General Information Tab)

    Project-Controller-Setup---General-Information-Tab

    Part 5 covers the Purchasing and Accounts Payable Modules.

    Click below to read these articles in the series:

    Please contact our Dynamics SL team of experts if you have any questions or you’d like additional information.

    About the Author

    Jane Nygren HeadshotJane Nygren is a Senior Consultant with the Customer Care SL Team, for Enavate Managed Services, a DXC Services Partner. She is a CPA with certifications in the States of Texas and Wyoming. Her MBA Degree is from the University of Tulsa. In additional to her Dynamics SL experience, Jane uses her Accounting knowledge and experience to resolve financial cases in the Customer Care SL Queue. She enjoys the simple things like going to the local Whataburger every Saturday (drive thru during the pandemic) and just hanging out with her husband and cat named ‘Little Girl’. Jane stays involved at her church. Her Hometown is Tulsa, Oklahoma. She currently lives in the Houston area.

     

    Jane Nygren

    Jane Nygren is a Senior Consultant with the Customer Care SL Team, for Enavate Managed Services, a DXC Services Partner. She is a CPA with certifications in the States of Texas and Wyoming. Her MBA Degree is from the University of Tulsa. In additional to her Dynamics SL experience, Jane uses her Accounting knowledge and experience to resolve financial cases in the Customer Care SL Queue. She enjoys the simple things like going to the local Whataburger every Saturday (drive thru during the pandemic) and just hanging out with her husband and cat named ‘Little Girl’. Jane stays involved at her church. Her Hometown is Tulsa, Oklahoma. She currently lives in the Houston area.

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