Why Users Should Evaluate Project Cost with DevExpress Integration
New in 2019 - DevExpress Integration with Dynamics GP
Project Cost includes an integration to the DevExpress Report Writer. The integration allows DevExpress reports to be attached to the Dynamics GP form "Additional Menus" for execution. Each report may also be assigned to individual users, or classes of users. The reports may be accessed through a reporting website. Watch a short overview video here.
What's New in Project Cost - (Between versions PC 12.02 and PC 18.02)
Tight Integration with Dynamics GP Processes
Olympic Project Cost begins transaction entry in standard Dynamics GP transaction entry windows. Project Cost attaches extended windows to the Dynamics GO windows to capture the project information. Project Cost does not use any modified Dynamics GP windows. This leaves the users able to implement most other third-part products without interference. It also allows users to modify the Dynamics GP and Olympic PC windows using Modifier.
Olympic Project Cost enables users to control the automatic opening of the project transaction windows. Our subsidiary window can be opened consistently throughout the system with a CTRL+Z command.
This consistent user interface, operating as a subsidiary of the Dynamics GP windows, allows users to adopt Olympic Project Cost with minimal training. It also provides the most efficient entry procedures (i.e. fewest keystrokes) in the industry.
This tight integration also allows use of standard Dynamics GP edit listings, error checking routines, posting processes, and reports. All summary and periodic Dynamics GP tables are updated by the standard Dynamics GP posting process. In comparison, many systems use independent processes and do not update the Dynamics GP summary tables, thus making the Dynamics GP inquiry windows and reports incomplete.
Most Olympic Project Cost features, names, and structures are modifiable as user requirements change. The ability to activate, inactivate, rename, or implement features, names, and categories throughout the system, allowing organizations, to grow or respond to their environments over time. Olympic Project Cost is likely the most flexible project cost system available today.
Users often struggle with proving project reporting and billing accuracy. Olympic Project Cost was design to meet Sarbanes Oxley (SOX) and Defense Procurement standards, as implemented by the Defense Contract Audit Agency. Olympic Project Cost provides the perfect audit trail between every project transaction and its source cost and resultant billing transactions. It also records a link to the resulting General Ledger transaction. Olympic Project Cost includes an automated too to reconcile General Ledger account transactions with project transactions. To our knowledge, Olympic Project Cost provides the best audit trail in the industry, and the only automated too to reconcile project transactions to General Ledger transactions.
Periodic Processing of Burden and WIP Valuation Transactions
Olympic Project Cost uses summarized General Ledger transactions to post work-in-progress, percentage completion, and burden transactions. Each transaction is supported by detailed historical sub-ledgers. These processes have several advantages. The first is that the General Ledger transactions are summarized and well-identified. Consequently, General Ledger transactions are easy to interpret and validate. The detailed sub-ledgers are held in separate tables so the review and analysis actual cost project transactions are not compromised.
The detailed historical sub-ledgers, held in Olympic Project Cost tables, provide a historical audit trail for valuation and burden entries. This is especially helpful for auditors reviewing projects using percentage completion revenue recognition methods, because all of the pertinent details of the percentage completion calculation, including actual cost and revenue totals, burden rates, and budget amounts are store by cost category.
Lastly, these periodic processing methods allow users to to drill from a Cost of Goods Sold account on an income statement to the General Ledger, on to the Dynamics GP transaction inquiry window, and finally to the Project Cost transaction. No other system supports management review with this degree of ease of use.
Olympic Project Cost has develop a component-based upgrade. This means that each component, stored procedure, view, or table is individually upgraded. The upgrade process has the following unique features:
Each table structure is validated before the upgrade process begins. This keeps corrupt or user-modified tables from entering the upgrade process and becoming less recoverable. Each table is automatically backed up before the upgrade process begins.
The upgrade is done using SQL procedures which drop the existing table, create the replacement table, and then transform the data. This process is very rapid, and provides the user with a clear indication that the upgrade was successful, and if unsuccessful, identifies what issue caused the failure. Upgrades take minutes instead of hours.
The table status is displayed to the user in a scrolling window grid format which does not flash by, but remains visible to the user as long as required. There is a detailed report that lists table status and error messages, and this report may be printed as many times as necessary.
In the less common occurrence of an error, the table can usually be correctly updated individually without restarting the entire upgrade, and without reinstalling a database backup.
Olympic Project Cost is easy to install, easy to use, and easy to understand. It has efficient operations to eliminate unnecessary keystrokes and double-entry.
Its tiered complexity and flexibility enable new users to get started quickly with the certain knowledge that more advanced features may be implemented and adjusted as requirements change.
With appropriate use of technology and an elegant database design, users can manage Olympic Project Cost to provide the most appropriate information for project management in an environment that can withstand current and historical audit scrutiny.
Because Project Cost has advanced features, low cost of total ownership, tight integration with Microsoft Dynamics GO, and superior management reporting and control, every organization should consider Olympic Project Cost when buying project management and cost accounting software.
To learn more about Project Cost, click here.
This article originally appeared in the Summer 2019 GP Optimizer. Read the full magazine here.