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8380 Solomon 6.0 Project Management & Accounting
Course Description

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Duration: 5 Day.

Prerequisites:

Before attending this course, students must have:

  • General knowledge of Windows
  • Working knowledge of the Solomon Financial modules
  • Basic knowledge of accounting principles

Course Description:

The 5-day Solomon Project Accounting course explores project management from an accounting perspective. This course will show you how to configure and utilize the four core Solomon Project modules which includes Controller, Allocator, Time & Expense for Projects, and Flexible Billings.

By attending this class you will gain a thorough understanding of Solomon Project Management & Accounting. You will be presented with an overview of the business issues and key implementation strategies encountered with these modules and how they integrate with other Solomon modules. A key component of the course includes a hands-on exercise that allows implementation practice

Objectives:

After completing this course, students will be able to:

  • Understand terminology in the project management environment
  • Explain how maintenance, data entry, and process screens work for each of the modules covered
  • Define projects, tasks, and account categories
  • Identify the navigation used to access the windows for transactions, reports, utilities, routines, and inquiries in Project Accounting
  • Identify the primary pitfalls or challenges in implementing the modules
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Course Outline

Lesson 1: Controller

  • Project Accounting Features and Benefits
  • Project Controller Overview and Roadmap
  • Project Controller Implementation plan
  • Account categories and task definitions
  • Chart of Account and Flexible Key Maintenance
  • Code Types and Code Files
  • Contract Types and calculation methods
  • Project Maintenance
  • Maintaining Budgets
  • Beginning balances
  • Revenue Recognition
  • Equipment and Resource Maintenance
  • Integration with other Solomon modules
  • Financial Transaction Transfer
  • Period-end procedures

Lesson 2: Time & Expense for Projects

  • Transaction process flow
  • Module strengths
  • Audit trails
  • Labor Pay types and costing methods
  • Time & Expense Setup
  • Time policies
  • Overtime setup
  • Maintaining employees
  • Employee/Position rate maintenance
  • Workers' Compensation and Union rates
  • Timecard transactions & corrections
  • Travel and expense setup
  • Mobile Time & Expense setup
  • Troubleshooting

Lesson 3: Allocator

  • Allocator overview and process flow
  • Audit trails
  • Capabilities of Allocator
  • Allocation process
  • Indirect rate calculator
  • Standard Rate Entry
  • Troubleshooting

Lesson 4: Flexible Billings

  • Flexible Billings overview and process flow
  • Module strengths
  • Implementation worksheet
  • Billing Policies
  • Billing rules and invoice formats
  • Costing methods
  • Billing information maintenance
  • Billing transaction load
  • Sales tax processing
  • Automatic invoice creation
  • Construction billings
  • Troubleshooting

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