The Analytical Accounting module provides the ability to add a lot of additional information to general ledger distributions, without having to add additional accounts or segments to your chart of accounts. It can be used to track transactions for a simple project accounting system. It can be used to track grants and special events.
The additional information can be in the form of a dollar amount (numeric), yes/no value, text, or date. You can set up a hierarchy of values if you wish, e.g. project >> task >> subtask. You can require that values be entered for certain accounts, or have that be optional.
Analytical Accounting is available on myGPcloud in either the Business Essentials (Plus) or Advanced Management (Plus) version.
I created this video that shows you a brief look at Analytical Accounting in Dynamics GP.