Financial Management Suite

Financial Management Overview

The Acumatica Financial Management Suite includes a core set of applications designed for companies with complex requirements, yet are easy to use in smaller organizations. The Financial Management modules are integrated with each other and the other Acumatica suites, including Distribution Management, Customer Management, and Project Accounting

KEY BENEFITS

CLOSE YOUR BOOKS FASTER: Acumatica’s time-saving automation enables you to facilitate month-end activities efficiently and with fewer errors.

KNOW WHERE YOUR BUSINESS IS Access 100% of your financial information from anywhere, using any popular web browser on any device.

ACCELERATE DECISIONMAKING Improve decisions by using drilldown reports and dashboards to gain access to past information and provide insights into future needs.

MANAGE MULTIPLE ENTITIES Integrate financials across multiple business entities and automate reporting, consolidation, payments, and cash management.

IMPROVE YOUR ANALYSIS Acumatica’s standard financial reports provide year-over-year comparison and budget versus actuals.

WORK LOCALLY AND INTERNATIONALLY Prepare financial statements in both your local currency and a foreign currency for reporting purposes.

 

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Accounts Payable

The Accounts Payable (AP) module is used to track vendor invoices, automate payment processing, predict cash requirements, track vendor balances, manage available discounts, and deliver vendor reports. The AP module is integrated with all other Acumatica modules.

KEY BENEFITS

ACCESSIBLE FROM ANYWHERE Access 100% of your accounts payable features from anywhere using any popular web-browser.

OPTIMIZE PAYMENTS Avoid late charges and take advantage of vendor discounts by aligning payments with cash flows.

PREDICT CASH REQUIREMENTS Run reports to determine upcoming cash requirements and manage payments accordingly.

FASTER DATA ENTRY, FEWER ERRORS Enter data more quickly with predictive entry and flexible screen layouts. Reduce errors by setting default accounts, subaccounts, payment terms, and discounts by vendor.

ACCELERATE DECISIONMAKING Improve vendor payment decisions by using drill down reports and dashboards to gain access to past information and provide insights into future needs.

ORDER LOCALLY AND INTERNATIONALLY Maintain vendor balances in both a base currency as well as the vendor currency. Currency translations are performed automatically.

 

Accounts Receivable

The Accounts Receivable (AR) module is used to enter customer invoices, send customer statements, collect and apply payments, verify customer balances, track sales commissions, and deliver customer reports. The AR module is integrated with all other Acumatica modules.

KEY BENEFITS

ACCESSIBLE FROM ANYWHERE Access 100% of your accounts receivable features from anywhere using any popular web-browser.

LOWER UN-COLLECTBLE DEBTS Reports and dashboards help you identify problems before they occur. This includes over limit accounts, aging accounts, expiring credit cards, and more.

ADJUSTS TO YOUR BUSINESS Use sales contracts to bill recurring fees, one time fees, setup, overage, and other charges.

STREAMLINE OPERATIONS Sales, service, finance, and support can all access customer bills and reports according to customized workflow and approval processes.

FASTER DATA ENTRY, FEWER ERRORS Predictive entry and flexible screen layouts reduce time spent entering data.

HIGHER CUSTOMER SATISFACTION Create HTML, PDF, or Excel documents which can be printed or emailed according to client preferences and billing cycles.

WORK LOCALLY AND INTERNATIONALLY Multiple currencies, translation, consolidation, and more.

 

Cash Management

The Cash Management (CA) module is integrated with the General Ledger, Accounts Payable, and Accounts Receivable modules to provide a single place where you can manage all of your cash needs. Reports provide summarized views of data and allow you to drill down to account details.

KEY BENEFITS

ACCESSIBLE FROM ANYWHERE Access 100% of your cash management features from anywhere using any popular web-browser.

UNDERSTAND CASH REQUIREMENTS Track balances across all bank accounts, currencies, and entities to gain a better understanding of current and future cash needs.

MANAGE CASH EFFICIENTLY Perform bank transfers with automatic tracking of currency gains and losses. Customize reports to help determine cash needs specific to your organization.

GAIN A COMPLETE VIEW OF CASH FLOWS Integration across all Acumatica modules and cash accounts provides a complete view of your cash position for up-to-date reporting and forecasting.

DRILL DOWN TO DETAILS Start with high-level reports and drill down to transaction details to simplify reconciliation, forecasting, and reporting.

 

Consolidation Overview

Acumatica provides a web-based ERP solution with integrated CRM and document sharing capabilities. You can get Acumatica as a subscription (SaaS) or purchase the license, and switch between both as you need. With Acumatica, you can provide integrated financial reporting and business analysis across all your affiliated companies and subsidiaries from a single, centralized system. Worldwide access and strict access controls allow everybody to perform their specific role in the consolidation process without gaining access to confidential data.

KEY BENEFITS

TEAM APPROACH Provide global access and participation with web-based tools. Server-based pricing allows you to involve everybody without per user fees.

FLEXIBLE ACCOUNTS AND SUBACCOUNTS Import data from sources with different account values and field sizes using flexible account mapping.

MULTIPLE CURRENCIES Currency translation features allow consolidation of international subsidiaries. SECURITY AND COMPLIANCE Strict access security allows you grant each entity access to specific reports, accounts, ledgers, and documents.

REMINDERS AND WORKFLOW Ensure timely reporting by assigning tasks and setting reminders.

 

Currency Management

The Currency Management (CM) module automatically computes realized and unrealized gains and losses, performs account revaluations, and performs financial statement translation so you can save time managing international subsidiaries and operations. Once activated, operations in multiple currencies become available through all Acumatica financial modules.

KEY BENEFITS

ACCESSIBLE FROM ANYWHERE Access 100% of your currency management features from anywhere using any popular web-browser.

MANAGE INTERNATIONAL CUSTOMERS & VENDORS Maintain balances in a local currency and the base currency for each vendor and customer. Realized and unrealized gains/losses are performed automatically.

MANAGE INTERNATIONAL SUBSIDIARIES Perform financial statement translation to aggregate data from foreign subsidiaries into consolidated reports. Maintain separate books for the foreign entity. MORE EFFICIENT BOOKKEEPING Improve your period book closing processes by automating revaluation of GL accounts, creating auto-reversing entries for unrealized gains, and computing realized gains/losses.

REDUCE IMPACT OF CURRENCY FLUCTUATIONS Isolate the potential impact of currency fluctuations with drill down reports and dashboards

 

Fixed Assets

The Fixed Assets Management (FA) module maintains depreciation schedules for assets that you own, rent, or lease and is fully integrated with all other financial modules.

KEY BENEFITS

WORK FROM ANYWHERE Create, approve, and fulfill sales orders from anywhere using any popular web-browser.

MANAGE ASSETS THROUGHOUT THEIR LIFECYCLE Account for assets from the time they are acquired until disposal. Enter information only once during a lifecycle since assets are shared by all modules and reports.

CUSTOMIZE FOR YOUR BUSINESS COMPLIANCE NEEDS Configure depreciation schedules with a predefined method, averaging convention, useful economic life, and recovery period. If needed, configure your own schedule.

SAVE TIME WITH AUTOMATION Automated entry, depreciation schedules, and workflow save you time and ensure that accumulated depreciation, asset values, and asset class balance reports are always up-to-date.

ACCELERATE DECISIONMAKING Drill down reports and dashboards provide access to past information and insights into future needs to improve business decisions. Use one of several included reports or design your own with the module’s report writer

 

General Ledger

The General Ledger (GL) is the central repository for your financial information that includes your chart of accounts, financial periods, ledgers, allocations, and more. Entries can be made directly into the GL or they can be made from other application modules and then posted to the GL module.

KEY BENEFITS

ACCESSIBLE FROM ANYWHERE Access 100% of your general ledger features from anywhere using any popular web-browser.

SECURE, ACCURATE DATA ENTRY Improve accuracy with advanced security features that limit available accounts and sub-accounts.

FASTER DATA ENTRY Reduce time spent entering data with predictive entry and flexible screen layouts. CUSTOMIZED REPORTS AND INQUIRIES Simplify reporting with integrated query and reporting tools that work with your account structure.

FLEXIBLE WORKFLOWS AND APPROVALS Create workflow and approval routes that match existing business processes.

CENTRALIZED BUSINESS MANAGEMENT Gain a centralized view of your entire business with support for multiple ledgers.

WORKS LOCALLY AND INTERNATIONALLY Use multiple currencies, translation, consolidation, flexible financial periods and more to work in the way that’s right for your business.

 

Inter-Company Accounting

With Acumatica’s Inter-Company Accounting module, you can track financials and create reports separately for an unlimited number of related companies* within your organization. The system will automatically create due-from and due-to entries for inter-company transactions so your accounts stay in balance, and your consolidated reports accurately reflect company-wide results. Inter-Company Accounting is integrated with the Financial Suite, Distribution Suite, and Project Accounting.

KEY BENEFITS

CENTRALIZED ACCOUNTING Reduce overhead by centralizing accounting functions such as cash management, vendor payments, and customer invoicing in a single company. Income and expenses are attributed to the company that initiated the transaction.

CUSTOMIZED REPORTS AND INQUIRIES Deliver customized reports across one, many, or all companies with integrated query and reporting tools. Financial reporting tools eliminate inter-company transactions on company-wide reports.

SIMPLIFIED MAINTENANCE Reduce setup time and provide a centralized view of transactions— related companies share vendor and customer records.

ACCESSIBLE FROM ANYWHERE The Cloud makes it easy to manage financials and distribute reports across companies in different geographical locations. Remote users can access the system using any browser-enabled device.

 

Payroll

Acumatica Payroll gives you the flexibility to determine whether you want to distribute payroll to a simple default set of GL accounts or to multiple GL accounts based on criteria such as branch, department, location, employee class position, union or earnings codes, tax codes, deduction, or benefit codes.

KEY BENEFITS

REDUCE PAYROLL HEADACHES Fully integrated with the Acumatica Financial Management Suite, Acumatica Payroll offers all the functionality you need to easily pay your employees and manage tax filings.

PROCESS PAYROLL ANYWHERE Acumatica Payroll enables you to set up, modify, and report on payroll from anywhere using any popular web-browser.

ACCELERATE DECISION MAKING Out-of-the-box reporting and inquiry screens allow you to easily access and analyze payroll information.

GOVERNMENT FORMS AND REPORTING Acumatica Payroll produces the following government reports which can be easily exported and uploaded to state sites.

  • W2
  • W3
  • 941
  • 941 Schedule B
  • 940
  • 943
  • Workers’ Compensation
  • State Unemployment