So, you’re thinking about Acumatica, the Cloud ERP. With Acumatica, you’re not just getting a financial management system; you’re unlocking a suite of features designed to work together streamlining your processes, enhancing financial visibility, and driving business growth. From real-time reporting to seamless integration with other business applications, the core financials in Acumatica provides everything you need to make informed decisions and lead your organization to new heights. Here is an overview of the functionality included in Acumatica Financials:
- Multiple Branches: Unlimited branches for reporting and tracking financial and operational data.
- Multiple Companies: add related companies inside a single tenant. Each company can operate with unique tax filing, fiscal period start date, branches, and employees.
- Currency Management: Automatically download and maintain exchange rates; track payables/receivables in the vendor/customer currency; perform currency translations and revaluations. Maintain transactions in a single base currency. Prepare consolidated reports.
- Customer and Vendor Visibility: restrict viewing customers and vendors by branches, companies, or company groups.
- General Ledger: flexible accounts and subaccounts to enter batches, transactions, and vouchers. Simplified reclassification of expenses.
- Accounts Payable: bills, credit/debit adjustments, prepayments, track vendors and balances, initiate payments (print checks, initiate ACH, credit cards), vendor price lists
- Accounts Receivable: invoices, credit/debit memos, overdue charges, credit limits, credit terms, write offs, receive and apply payments, statements, price lists, dunning letters
- Account Management: track customer and vendor accounts, multiple account locations
- Banking: manage cash transactions, credit card payments, deposits, and bank reconciliation.
- Bank Imports: import bank transactions using .csv, .qbo, .qfx, or .ofx file formats.
- Bank Feeds: Automatically download bank transactions from financial institutions into Acumatica. Available for USA, Canada, and UK.
- Payments: pay bills using cash, checks, or ACH file exports.
- Integrated Payment Processing: collect payments using credit cards, gift cards, and ACH direct debit with features such as click-to-pay, payment portals, integrated card readers (hardware not included), and mobile payments. Select from a variety of merchant services including Acumatica, Stripe, Authorize.net, and several others. Features vary by merchant provider.
- Tax Management: configure tax tables or connect to external providers to manage sales, use, VAT, and withholding taxes
- Ledgers and Budgets: unlimited ledgers for financial reporting and budgeting. Flexible period management.
- Subaccounts: define up to 10 segments to break out GL accounts for tracking or reporting
- Financial Calendar: maintain calendars for your individual companies or maintain a single calendar for all companies
- Allocations: automatically allocate GL transaction amounts between accounts, sub-accounts, and branches.
- Reporting and Data Analysis: use generic inquiries, pivot tables, Report Designer, or Analytical Report Manager (ARM) to modify hundreds of included reports/dashboards or build your own
- Non-Stock Items: manage non-stock items, standard costs, customer specific pricing and discounting
- 1099 Reporting: track 1099 payments to vendors and produce reports
- Commissions: track salesperson sales by period
- Time Management: attach activities to data transactions and link those activities to timecards for approval and tracking, track shifts
- Approvals: assign work and set approvals based on document details.
- Document Management: attach documents to data transactions for auditing and tracking
- Localization: language and locale support for global user support
- Notifications: send email and mobile push notifications based on business events
- Email Processing: utilize email accounts to send and receive email from Acumatica
- Security: assign user roles to restrict access to any screen, data field, actions, and some data elements
- MFA: native multi-factor authentication via email, SMS, or push notifications.
- Automation: workflows, scheduled processes, notifications
- DeviceHub: Windows application to connect the Acumatica cloud to local printers, scanners, and scales
- Integration: create import and export scenarios which can be run on demand or scheduled
- Web APIs: connect to external system using RESTful or SOAP-based APIs, define/customize web service endpoints
- Microsoft Teams Integration start a Teams chat or call, import files shared in Teams to Acumatica, share ERP records in Teams, setup automatic notifications in Teams when ERP records change.
- GL Anomaly Detection utilize an intelligent system advisor to identify potential transaction errors based on prior reclassifications. System returns confidence levels on potential errors that you can then accept or reject.
- AP Retainage: withhold amounts from vendor bills to a liability account, until work is substantially complete.
- AR Retainage: track and bill withheld retainage and associated sales taxes on customer invoices throughout the life of the project.
Interested in learning more about Acumatica cloud ERP and what it can do for your organization? Contact us now and we’d be happy to help you with your ERP evaluation.
By Amy Mackiewicz, CAL Business Solutions, Connecticut Acumatica and Microsoft Dynamics GP / 365 BC Partner, www.calszone.com
