for each hour of work on this project we are going to charge our customer $30. For hours on Project X we also have a sales price set up of $30, i.e. for each hour of work on this project we are paying our employee $15. Let’s say that for hours on Project X we have a cost price set up of $15, i.e. Your sales price minus your cost price is going to be the revenue earned on each hour of labor or expense.
A sales price is what you are actually billing your client for each hour of labor or each expense. That is, what you are actually reimbursing your employee for – either for the expense they reported or hours they worked. A cost price is the price at which the hour of work or particular expense is going to cost your business. These prices are applied every time an hour or expense transaction is entered, either in a journal or through timesheets or expense reports. So what are cost prices and sales prices on a project? Cost prices and sales prices can be set up for project hours and expenses. For your organization to successfully use Projects in Dynamics AX, it is essential to understand the difference between cost and sales prices and properly configure each for every project your company is involved in. Microsoft Dynamics AX Project Accounting can essentially run your project based service business for you. Posted on: Octo| By: Jarrod Kraemer | Microsoft Dynamics AX/365 What’s the difference between Cost Prices and Sales Prices in Microsoft Dynamics AX?
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