NOTE: The intention of this blog post was not to explain the end to end process of revenue recognition for fixed price projects. The process after this is pretty straight forward and as you would run the revenue recognition typically for the fixed price project. Notice that after we have run the revenue recognition, system automatically shows the Percentage completion based on the WBS work percent complete. But we will just leave it as default (From cost template). You will notice here that “Work progress percentage” is a new option under the “Cost to complete method” dropdown. Navigate to the Project revenue recognition screen and click Create. Let us say, at this point you are ready to run the revenue recognition for this project for the Month of August 2016. ![]() I have setup a very basic WBS for this walkthrough.Īfter I have progressed in the project and transactions (Timesheets, Expense reports, Purchase orders, journals etc.), Dynamics AX automatically starts tracking the % complete for the project at each task level of the project. ![]() Once you have your WBS defined and the cost estimates established, Dynamics AX will automatically keep track of the “Percentage completion” for the project based on the WBS estimates vs the actual transactions. The next step is to setup the fixed price project and establish the project plan, which is basically the work breakdown structure. Once you have that, associate it with the project group. The first step for this is to setup the Cost template and select the Completion based on as “Work percentage complete”. In this quick post, we will how this works.
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