Essence Subcontract Management

Project budget

Create a detailed project budget in a detailed breakdown that suits you for monitoring the economy. The standard project module in Microsoft Dynamics 365 Business Central allows you to maintain budget categories, in which you then track the budget and the actual budget usage. The compilation of categories and individual budget lines is fully in the hands of the authorized user.

Budget utilization status

Accounting entries are also automatically created in the system against the project, where it is then possible to monitor the actual situation and compare the status with the project budget. Accounting entries are created by the sequence of documents: order, delivery, invoice. Information about the correct project, category and budget line is then transferred from the original purchase order.

Project Cash Flow

Based on the facts, budget and deadlines, the system automatically generates the project Cash Flow for you. This way, you have control over your finances at all times and you know exactly what to expect in the event of a project deadline shift. This Essence functionality, which fundamentally enriches standard project solutions, will make project management easier, manage finances and save you time. The sum of all project Cash Flows is then the resulting Cash Flow for the entire company. 

Gantt Chart of Subcontracts

Use the Essence extension with a Gantt Chart of tasks and project budget lines. This allows you to manage the lines of individual subcontracts in individual budget categories. From the information on the project line, you can immediately see whether a purchase order already exists and whether the supplier is able to fulfill the delivery on time. You can see everything in one place in the system, both on the project budget line and in the Essence graphical extension.

Managing your own activities and tasks

If you also need to manage your own activities and tasks on a project, you can use an optional component of the solution in the form of Microsoft Dynamics 365 Project Operations. It is a successor to the successful MS Project product. You can manage activities and tasks at any number of levels and at the same time process-connect this part of the solution with the rest of the solution. A standard feature of the Microsoft Dynamics 365 Project Operations product is also a Gantt Chart, connections to Teams, Excel, Planner and other integration options into a single unit.

Resource management

By default, Microsoft Dynamics 365 Project Operations also allows resource and capacity planning. If you have a problem with resource planning, then use this option of the standard product. Our Essence extension will then allow you to integrate work reports into the overall solution so that the user enters their report for a completed task and this report is subsequently posted as an internal project expense in the Microsoft Dynamics 365 Business Central solution. You can also define a project or other organizational approval process for your resources' work reports.

Purchasing management

Purchasing is an integrated process, meaning that requisitions, purchase orders, deliveries and invoices are linked to the project budget. Each purchase order knows where it belongs, so the accountant can bill the invoice without having to search for additional information in the company. Purchase orders are validated with the budget and also go through an approval process to speed up the process of recording and billing purchase invoices.

One comprehensive solution

Everything under one roof. From projects, through purchasing, sales, warehouses, to accounting. One ERP system that automatically generates accounting entries in the accounting agenda. Automatic generation of material items, i.e. the general ledger, but also automatic generation of VAT items, i.e. recording obligations. This solution is the basis for online reporting of individual projects and the entire company.