Every Project has to be tracked. In Microsoft Project Server 2010 you can choose between two approaches:
- Effort-based: You are collecting time spending on Tasks, or during some period of time
- Duration-based: You are collecting percent of complete
Since MS Project Server 2010 can be connected with ERP like Microsoft Dynamics NAV, you can define Fiscal periods. You can use Fiscal Periods for calculate some financial statements, or for any other purpose. To be honest, I am not using this feature
To define Fiscal Periods Log on as an Administrator and then:
You should choose a Fiscal year first! When you hit the Define button, you will get:
- Define Fiscal Period Start Date: Put the start date of your fiscal year (1/1/2012, or 7/1/2012)
- Set Fiscal Year Creation Model:
- 4,5,4 Method: Fiscal quarter starts with 4-week fiscal period, then 5-week fiscal period, than 5-week fiscal period
- 4,5,4 Method: Fiscal quarter starts with 4-week fiscal period, then 3-week fiscal period, than 5-week fiscal period
- 5,4,4 Method: Fiscal quarter starts with 5-week fiscal period, then 4-week fiscal period, than 4-week fiscal period
- 13 Months Method: Each fiscal period has a four weeks, and since there are 52 weeks in a year, 52/4 = 13
- Standard calendar year: Each period is set according standard calendar!
- Prefix: Name Prefix for each period
- Next Sequence Number: This is an increment!
- Suffix: Name Suffix for each period
When I hit Create and Save button, I will get:
I have 12 Fiscal Periods, one for each month!
In my next Post I will write about Time Reporting Periods!