Plan for profitability from the start with the project accounting and business management software solution designed for small and mid-sized professional services firms.
Profit requires the perfect intersection of planning and execution from assigning resources to tracking every project dollar. Microsoft Dynamics 365 Business Central for Professional Services is professional services management software that provides what you need to put profitability first, not last.
Shine a light on hidden project costs
Easily track, view and analyze costs.
Get instant expense visibility before the end of an accounting period. Record items or inventory against a project. See information in easy to view dashboards and reports.
Take the guesswork out of budgeting
Get unlimited budget revisions. Budget generic resources as placeholders. Copy budgets from previous projects. Register materials consumption directly on the project. Compare budget details with actuals to the task level.
Knock down sales and delivery silos
Enable teams with Outlook integration, CRM functionality, and easy-to-use workflows. Centralize data for an accurate, real-time view of business. Create quotes and budgets for review. Use project-analysis dashboards to view data.
Your status quo small business accounting solution might be holding you back.
Download our eBook to find out how the right project accounting software for small and mid-size businesses can help you plan for profitability from the start.
Advanced Professional Services Management and Accounting Capabilities in Single Solution
Business Central for Professional Services is the cloud-based project accounting software solution that has industry capabilities at its cornerstone. Flexible project forecasting. Powerful project planning, estimating, and budgeting. Easy mobile time and expense entry. Project-focused analytics and insights. This single solution delivers the power to maximize utilization, to complete great projects on-time and on-budget, and to optimize your project portfolio.
Get end-to-end, cloud-based project management
Flexible budgeting, easy project creation and one-stop time entry, approval and management optimize distinct processes in a single software solution
Balance capacity against demand
Full resource planning information ensures maximum resource utilization and profitability and helps identify trends for hiring and staffing
Communicate with teams consistently
Project teams can see the latest information, track profitability, resources, timelines and more on any device they use – anytime, anywhere
Become nimbler and more responsive
With more mobility and secure, connected data, processes move faster so you can reach higher levels of customer satisfaction
The Software: What's included in for Dynamics 365 Business Central for Professional Services Management?
Project Setup Wizard
Create projects in a few clicks using the Project Setup Wizard to start a quote or project. The wizard ensures that the project is correctly created with required information entered and validated.
Previous Project plans or defined templates can be applied to a project from a fully user-configurable library of templates. Combine multiple templates into one larger template so the project develops as it progresses. This helps ensure the structural integrity of the projects, methods & processes and keeps the overhead low.
Flexible Project and Task Structure
Design projects to fit the way you do business by defining a flexible nested task structure. Project structures can include factors such as client, job, phase, task, work breakdown structure, and work types to allow better visibility into project performance.
Flexible Invoice formats
Choose from predefined invoice formats or create custom formats based on the customers’ needs.
Budget Matrix displays the tasks for a project and allows for budgeting at the level required. (Examples: daily, weekly monthly, quarterly, etc.). The matrix makes it easy to make budgets based on quantity and to see available capacity while creating a budget. Possible to split a resource group budget to resources or resource groups.
Resource and Scenario-based Budgeting with Excel Integration
Compare budget detail with actuals at the completion of your project down to the task level. By measuring the accuracy of your budget and evaluating the impact on your profitability, you can easily fine tune your bidding process to ensure future competitive bids.
Project Estimates can be dynamically controlled using budget revisions with full integration to the sales order where it is possible to generate orders based on specific activities and estimates.
Unlimited Budget Revisions
Unlimited Budget revisions for Estimate to Complete and forecast are easily tracked and automatically update project statistics such as net profit and margin percentage. Pre-activities such as time, expenses and items can be entered on a project with a separate budget revision, in addition to the ability to set a separate status for activities and the project(s) with advanced, cloud-based project management software.
Project Resource Management
Distribution & Manufacturing with Project Integration
Consume materials through purchasing with distribution or manufacturing.
Record items or inventory against a project
Project Portfolio Management
Tie several projects together in a dynamics hierarchy for Project Portfolio Management. This enables the sending of one customer invoice for multiple projects.
Enhanced Resource Tracking
Includes Capacity and working hours. Track Resource Utilization and Capacity at the individual and group level.
Customize Invoices with Microsoft Word
Templates can be set up for any type of invoice.
Invoicing of any type is supported – Time and Material, Fixed Price, or Cost Plus.
Set up billing schedules based on your determined milestones within the specified project.
Multiple rate structures
Leverage rate structure based on by project, resource, expense, or item with multiple options for expense billing.
Compliant with Current Accounting Standards
Supports AICPA, FASB and SEC regulations (including SOP 81-1, SAB 101, and EITF 00-21) including the requirements for Vendor Specific Objective Evidence or VSOE as well as Sarbanes-Oxley compliance with Section 404. Detail or summary invoices.
Multiple Revenue Recognition Options
Including, Work in Process, Sales, Cost and Budget vs Actual, and Percent Complete.
Time and Expense Tracking
Multiple Levels of Approval
Configurable approvals for both time and expense of up to three levels in the organizational structure
Time Entry with Overtime Tracking
Simple Employee time entry from any device with the ability to calculate and track overtime (with rates)
Standard and Actual Labor Costing
Flexible costing models to allow you to account for the costs by Standard Costs, or by actual labor costs.
Customizable, Role-Based Dashboards
Including Project Management view with project plans and statistics
Assign Pipeline close percentages to better forecast future revenue and assign pipeline probabilities to allow weighted averaging. Work in Progress reporting.
Including reports for Project P&L and Budget vs Actual
Review profitability and capacity
See how Dynamics 365 Business Central for Professional Services Management for small and medium-sized businesses can drive greater profits with a single software solution.
Download the guide to learn all of the project accounting capabilities delivered with our Dynamics 365 Business Central cloud based project accounting software offering.
One Solution. One Partner. Rely on Microsoft Dynamics Business Central for Professional Services from Velosio
With more than 30 years’ experience as a Microsoft partner, Velosio brings a deep knowledge of how project-based and professional services businesses work. In fact, we built the functionality described here that that lets you plan for profitability from the start! You won’t find our depth and breadth of experience in professional services or with Business Central anywhere else.
With Velosio, you can fast-track results with our rapid-deployment methodologies for your Microsoft Dynamics 365 Business Central implementation, accelerate your time to market with our industry expertise, and enhance implementations with our range of services including development, support, and managed services.
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