Project Management and Accounting in Dynamics 365 Business Central
As the construction industry has grown and matured, the requirements for managing projects and assets have also changed. In other words, managing construction projects has turned into a matrix with many complex tasks related to project management, resource management, finance management, and more.
Project-based businesses have unique challenges. Managers need to see who’s doing what, understand how much each job costs (and brings in), discover new ways to improve service, and deliver optimal customer experience. Add to this the ongoing challenges that go into running a growing business, and you may discover that your current solution isn’t designed to handle your needs.
Microsoft Dynamics 365 business Central
Microsoft Dynamics 365 Business Central is a powerful cloud-based ERP solution that seamlessly integrates these critical functions, empowering businesses to manage projects, track costs, and optimize accounting workflows in one centralized platform. In this blog, we’ll explore how Business Central transforms project management and accounting, enabling organizations to deliver projects on time, within budget, and with real-time financial insights.
Features of Project management modules
Below is some of the major features included within the software (solution).
Resources management (Employees, machines…. etc.)
Quotation, Budget
Time Management: Timesheet, Employee Self-Service, Approvals, Planning Capacity
Document management, Document Capture
Job Accounting and Control
Job Supplies
Work In Progress (WIP)
Invoice Management
Mobile: Mobile Apps, Cloud Delivery and High level of Security
Reporting, KPI’s and advanced reporting (POWERBI integration)
Why Integration of Project Management and Accounting Matters
Projects are the lifeblood of many businesses, especially in industries like construction, consulting, IT services, and manufacturing. However, disjointed systems for managing projects and finances often lead to:
Data silos between teams.
Manual errors in cost tracking and invoicing.
Delayed financial reporting, impacting decision-making.
Overbudget projects due to poor visibility into expenses.
Dynamics 365 Business Central bridges this gap by combining project management tools with advanced accounting capabilities, ensuring every project decision is backed by accurate financial data.
Key Project Management Features in Dynamics 365 Business Central
Business Central offers robust tools to plan, execute, and monitor projects efficiently:
Project Planning and Resource Allocation
Create detailed project plans with timelines, tasks, and milestones.
Assign resources (employees, equipment, budgets) and track availability.
Use Gantt charts for visual scheduling and adjustments.
Time and Expense Tracking
Log hours and expenses directly against projects via mobile or desktop.
Automatically sync data with timesheets and approval workflows.
Real-Time Progress Monitoring
Track project KPIs like budget consumption, task completion, and profitability.
Generate dashboards to identify risks (e.g., overspending) early.
Subcontractor and Vendor Management
Manage subcontractor agreements, purchase orders, and service invoices.
Track vendor costs and ensure compliance with project budgets.
How Business Central Enhances Collaboration Between Teams
By unifying project and financial data, Business Central breaks down silos between departments:
Project Managers gain visibility into budget utilization and can adjust plans proactively.
Accountants access real-time expense data to streamline month-end closing.
Executives leverage dashboards to assess portfolio-wide performance and ROI.
For example, a consulting firm can track billable hours in real time, automate client invoicing, and instantly calculate project margins—all without switching between systems.
No matter how complex the project, the number one priority is completion. With Microsoft Dynamics 365 Business Central Project Management, you can accurately track costs, hours, budgets, completion percentages and more so that you can provide accurate, affordable, and timely delivery of projects. Create, manage, and track customer projects using time-sheets along with advanced job costing and reporting capabilities.
Dynamics 365 Business Central puts flexibility at the core of your business, enabling you to start quickly, grow at your own pace and adapt in real time. Please Contact-Us for a Demo and see our flat fee standard implementation.