Introduction
To post projects, you must first set up posting accounts for each posting group. project posting groups define the relationship between projects and the general ledger.
Each project must belong to a posting group because the project's posting group tells Microsoft Dynamics 365 Business Central where to post the transactions that are associated with that project.
To create a project posting group, follow these steps:
Select the Search for page icon in the upper-right corner of the page, enter project posting groups, and then select the related link.
Select New.
In the Code field, enter the code of the project posting group.
In the Description field, enter the name of the project posting group.
A posting group lets you define the work in process (WIP) accounts, cost and sales that are applied, adjustment accounts, and G/L expense sales accounts. The accounts that you need to configure depend on the WIP method that you use. The following table describes each account and the WIP methods for which they are used.
| Field | Description | Bal / P&L | WIP methods |
|---|---|---|---|
| WIP Costs Acc | Calculated cost of the project WIP. | Balance – asset | All |
| WIP Accrued Costs Acc | WIP adjustment requires that usage costs that are posted to the income statement be increased. | Balance – accrued liability | Cost Value, Cost of Sales |
| project/Item/Resource/G/L Costs Applied Acc | Balance account to the WIP Costs Account. | P&L – negative expense | All |
| project Cost Adj. Acc | Balance account to the WIP Accrued Costs Account. | P&L – expense | Cost Value, Cost of Sales |
| G/L Expense Acc (Contract) | Sales account that will be used for general ledger expenses. | P&L – sales | All |
| WIP Accrued Sales Acc | WIP account for the calculated sales value of the WIP. | Balance – accrued revenue | Sales Value, % of completion |
| WIP Invoiced Sales Acc | Account for the invoiced sales value of the WIP that is not able to be recognized. | Balance – unearned revenue | All |
| project Sales Applied Acc | Balance account to the WIP Invoiced Sales Account. | P&L – contra income | All |
| project Sales Adj. Acc | Balance account to the WIP project Sales Account. | P&L – income | Sales Value |
| Recognized Costs Acc | Expense account with the recognized costs for the project. | P&L – expense | All |
| Recognized Sales Acc | Income account with the recognized income for the project. | P&L – income | All |
You can create as many posting groups as you need in Business Central.