No mattter how complex your business, get everything you need to manage your finances in one easy-to-use package
Acumatica Financial Management Solution Overview
Ready to meet needs of companies with complex requirements, yet simple enough to use in smaller organizations, Acumatica’s financial management suite is an accounting system for small business that provides all the functionality you need in one easy to use cloud package.
Applications Included in Acumatica’s Financial Management Suite
Click any of the items below to learn more.
- Accounts Payable – Manage your debts and payments for goods and services you buy.
- Accounts Receivable – Handle collections and automate the invoicing process.
- Cash Management – Control bank reconciliation, cash balances, transactions and fund transfers
- Currency Management – Do business globally and manage each of your worldwide subsidiaries.
- Deferred Revenue Accounting – Accurately account for revenue recognized in future periods.
- Fixed Assets – Control each of your fixed assets and manage their depreciation calculations.
- Human Resources Management – Automate and manage HR tasks such as benefit management, time and attendance and applicant tracking.
- Intercompany Accounting – Associate financial reports, cash payments and inter-entity transfers with the correct subsidiary.
- Mobile ERP applications – Give employees tools to enter their expenses and time, approve orders, assign tasks and review cases from anywhere.
- Recurring Revenue Management – Schedule payments bills that occur on a recurring schedule.
- Payroll Management – Whether you have one company or multiple companies, take care of all payroll related tasks, andautomate many for improved efficiency.
- Tax Management – Take care of all tax configuration, reporting and management tasks in one centralized location.
Accounts Payable Application Included with Acumatica Accounting System for Small Business
Setting up a new account in Acumatica Accounts Payable
- Multiple AR accounts in the General Ledger – Match customer groups with their own AR account. Then, Acumatica applies the proper offsets and amounts when you get paid.
- Currency support – Take payments and create invoices in any currency. Track customer balances in their currency and yours. Automatic translation makes sure you are using the latest exchange rate. Acumatica also calculates realized and unrealized losses or gains for open transactions.
- Recurring billing – Easily manage recurring monthly bills with templates you set up to meet your needs. Each contract links back to timesheets, so including billable hours in invoices is a snap.
- Credit limit and balance verification – Enforce credit limits with ease. Depending on how you set things up, you can stop invoicing once someone reaches their credit limit. Or, get warnings for past due accounts and temporarily raise credit limits.
- Simple tax reporting – Automatically figure VAT and sales taxes. Create tax documents. Override each customer’s default tax zone, if you need to.
- Simplified write-offs – Set a limit for write-offs and eligible customer list. The system will use that information to write off small balances as they occur.
- Sales commission calculations – Handle sales commissions with ease. Link them to specific items in an invoice and choose whether you want to pay them to a single salesperson or split them among the team. Pay commissions as you create invoices or after a customer pays. Calculate them on a yearly, quarterly or monthly basis.
- Overdue charges calculations – Automatically compute them as a minimum charge amount or as a percentage.
- Authorize.net API integration – Use authorize.net for PCI DSS compliant transactions. That way, sensitive credit card information doesn’t stay in your ERP database. Instead, it’s encrypted and sent directly to the processing center.
- Complete audit trails – Acumatica does not allow users to cancel or delete transaction records. The only way to fix a mistake is with reversing entries. Anytime someone creates or edits a record, Acumatica saves the user ID responsible for the change. And, supporting documents or notes become a part of the record.
How Acumatica Accounts Payable Helps Your Business
- Payment optimization – Align payments with cash flows and avoid late charges, easily take advantage of vendor discounts.
- Simplify invoice payment and approval – Automatically approve AP charges and make sure each follows the right approval process.
- Get paid faster – Set up prepayment requests, issue and apply them to invoices. To avoid confusion, prepayments stay in their own AP account.
- Automatically calculate taxes – Handle VAT and use taxes with ease. Assign each vendor a default tax zone. If needed, you can override this choice when you enter an invoice. For added flexibility, you can also add multiple tax items per line.
Accounts Receivable Application Included with Acumatica Accounting System for Small Business
- Multiple currencies – Invoice in any currency. Automatically apply the right exchange rate. The system even calculates gain/loss and currency triangulation. If you have any unrealized gains or losses, you can fix these through balance reevaluation.
- Recurrent documents – Set up recurring bills by selecting when and how often to pay each. Once set up, you can view and edit them on a single screen.
- Multiple Accounts Payable in the General Ledger – Link specific AP accounts to groups of vendors in the GL. Automatically offset the right payment amount.
- AP aging insights – Create custom AP aging categories and the reports you need to handle them, including vendor performance, cashrequirements, total outstanding and amount past due.
- Audit trail – Users may not cancel or delete records. The only way to fix mistakes is to use reversing or correcting entries. Also, Acumatica saves the user ID of the person who entered each record and anyone who changes it. Plus, you can add supporting notes and documents.
- Vendor refunds – Apply refunds towards a prepayment or debit change.
- 1099 reporting – Collect the vendor data you need to file 1099s. Track payments and create reports. If your business has multiple entities, each can close its books separately.
- Vendor account security – Choose who can edit or view vendor accounts. Keep sensitive data from falling into the wrong hands.
Creating an invoice in Acumatica Accounts Receivable module
How Acumatica Accounts Receivable Helps Your Business
- Boost customer satisfaction and security – Many people prefer buying with a credit card. If you don’t offer this service, you may lose sales. But, Acumatica makes it easy to take credit card payments securely. Its integration with authorize.net makes sure that credit card details never stay in your database.
- Improve invoices – Format them for print or screen. Include important messages and company details. Create them as needed and avoid wasting resources.
- Improve revenue control–Apply deferred revenue codes as you invoice. The system recognizes current revenue and creates the transactions.
- Manage credit – If you have many branches or franchises, you can handle the credit for the entire company as one.
Cash Management Application Included with Acumatica Accounting System for Small Business
Creating a new transaction in Acumatica Cash Management module
- Processing Centers – Set up the processing centers you will use to collect payments and tie payment methods to them. If you want to use Acumatica’s automatic credit card processing feature, you must define these first.
- Petty cash management – Get in depth, daily views of each account’s transactions. Track balances and add new transactions with a single screen.
- Payment and remittance – Speed up payment processing by selecting account numbers and preferred payment types for customers and vendors.
- Multiple currencies – Track account balances in your currency and that of each of your customers. See rate changes quickly and easily. When moving funds, you can use different currencies and Acumatica will calculate the gains and losses.
- Cash account reporting – Out-of-the-box reports help you manage short-term cash reserves, reconcile account balances and forecast cash flow. You can even drill down to see the details of each transaction.
- Audit trail – Keep strict records of all cash transactions. Safeguards ensure that no one edits existing records. The only way Acumatica allows you to correct mistakes on a record is to post an adjusting entry. And, the system keeps a detailed log of who creates and edits each record.
How Acumatica Cash Management Application Helps Your Business
- Simplify bank account reconciliation – Directly from the reconciliation screen, you can enter omitted cash, interest and other bank charges.
- Streamline financial management – Collect all cash transactions from AP, AR and the GL for clearing and reconciliation. Link them to the relevant customer or vendor and create their AR or AP records.
- Easily transfer money – Move cash between accounts and keep tabs on it while in transit. If the accounts use different currencies, Acumatica computes the realized losses or gains.
Currency Management Application Included with Acumatica Accounting System for Small Business
- Adjustable decimal settings – For each currency you use, select the number of decimal places you want Acumatica to display.
- Unlimited rate types and currencies – Tie different rate types to customers and vendors who use the same currency. Update the rates anytime.
- Automatic resolution of rounding differences – Once you set up your desired decimal settings in Acumatica, the system will take care of all rounding for you.
- General Ledger account revaluation – If you have GL accounts denominated in currencies other than your own, you can revalue them, adjust the value of the base currency and apply the proper gain or loss.
- Currency rate lookup – Acumatica uses the rate type and transaction date to choose an exchange rate. If you need to override this rate, you can. And, it will warn you if the new rate exceeds the variance level you set.
- Comprehensive gain and loss tracking – Detailed reports spell out your losses and gains. You can assign accounts or subaccounts to track the unrealized and realized gains or losses for each currency.
- Audit trail – Keep tabs on all currency transactions. See the user ID of anyone who enters or changes a record. You can also attach supporting documents and notes to their relevant transactions.
- Auditing and historical reports – Out-of-the-box reports give you a straightforward way to track the currency rates you’ve used in the past, and any revaluations you’ve done.
Invoice created using multiple currancies
How Acumatica Currency Management Application Helps Your Business
- Quickly translate financial statements – Create them in many currencies, or manage subsidiaries. Acumatica translates trial balances for you following FASB-52 standards. Also, it merges financial statements and calculates losses and gains.
- Tabulate realized gains and losses – Automatically calculate realized gains and losses from all foreign currency transactions, including funds transferred between accounts and customer payments.
- Adjust for unrealized losses and gains – Automatically create GL entries auto reversing all open documents using foreign currencies.
Deferred Revenue Accounting Application Included with Acumatica Accounting System for Small Business
- Audit Trail – See a complete audit trail of your deferred expense and revenue transactions. You can even get the details of scheduled transactions, including the user ID of the person who entered the transaction and who changed it.
- Recognition scheduling – Start it on a specific day, at the end or the beginning of the financial period. Create the recognition documents each time they run or only do it in certain periods, the choice is yours.
- Simplified reporting – It is easy to adjust Acumatica’s out-of-the-box reports to meet your needs using its Report Designer.
- Deferred Revenue in Multiple Currencies – Since the deferred revenue and currency management applications in Acumatica share information, it is easy to defer revenue, no matter what currency the record uses.
- Simplified Administration – Templates let you create revenue recognition and assign it to a line item with ease. Choose the recognition method, start date, percentage to recognize immediately, and more. Link templates to inventory items, accounts and subaccounts.
- Component Based Revenue Recognition – Break inventory items into their parts to apply unique deferrals to each. This is great for items with warrantees.
How Acumatica’s Deferred Revenue Accounting Application Helps Your Business
- Simple accounting – Defer revenue without any added work. When the time is right, the system recognizes and posts it to financial statements.
- Custom deferral schedules – Use a template or make one from scratch. Link it to a transaction or line item on a financial statement.
- Tight integration – Use templates for expense amortization of AP items. Also, you can link deferral schedules to inventory items. So, purchase and sales orders are handled using the proper accounting rules.
- Multiple recognition options – Create a schedule that makes sense for you. You can do it when you receive payment, prorate it by a certain number of days or spread it evenly across all financialperiods.
- IFRS 15, and ASC 606 compliance – Handle complicated multielement sales with ease. Customize the workflow logic to meet your needs.
Fixed Asset Management Application Included with Acumatica Accounting System for Small Business
Converting a purchase to a Fixed Asset
- Multiple Asset Types – Manage multiple property types, including leases, rentals, owned property and granted property. Keep tabs on things you have rented to others.
- Multiple Averaging Options – Choose the method that fits your needs. The options include full day, full quarter, full year, next period, mid period, full period, and more.
- Multiple Depreciation Books – Make tax reporting easier without affecting the GL. Create multiple depreciation books for reporting.
- Fixed asset reporting – Track asset disposals, acquisitions, net values, balances, depreciation transactions and projections with available reports. Quickly drill down for details.
- Fixed asset tools – Edit the records of an entire class of fixed assets. Convert purchases to fixed assets, generate fixed asset calendars, process depreciation schedules, etc., all with a single entry.
- Fixed asset classes – Group like assets together to simplify record handling and data entry.
- US tax compliance – Handle the calculations required by section 179 of the tax code for reversals on early asset disposal and lowered first-year depreciable basis.
How Acumatica’s Fixed Asset Management Application Helps Your Business
- Use multiple depreciation methods – Choose from common schedules or make your own. Each one can use different averaging methods or recovery and useful life periods.
- Improve tax compliance – Take advantage of special depreciation bonuses, multiple depreciation books, multiple calendars and tax benefit recapture functionality to ensure that you’re not only following the laws, but also doing so in a way that is in the best interest of your business.
- Purchase order integration – Find eligible purchases and convert them to fixed assets. No extra data entry is necessary.
Human Resource Management Application Included with Acumatica Accounting System for Small Business
- Employment screenings – Perform background checks on applicants, keep records of drug testing results and collect feedback from earlier employers, Acumatica gives you a single repository to manage all the information collected throughout the hiring process.
- Applicant tracking – Find and hire the right talent. Create job postings with screening questions. Link the included recruiting portal to your website or many of the most popular online job boards.
- Employee self-service – Offer staff a place to access and manage all their HR information. They can use the portal to choose their benefit package, enter demographic data or get a benefit summary.
- Employee surveys – Let your workers’ voices be heard. Create anonymous surveys where they can share your thoughts and feedback with you.
- Vacation and sick time tracking – Automatically keep tabs on the time off each person has available. Let them request time off through the self-service portal. Make it easy for managers to review and respond to these requests.
- Open enrollment – Handle it with ease. Offer access to EDI files and rollover information.
- Benefits management – Give staff access to benefits details. Make it easy for them to compare plans. Once they choose one, automaticallyapply deductions.
- Workflows – Automate common tasks. Track them as they move from one step to another, or from employee to employee. For more flexibility, add support for digital signatures and prefilled forms.
- Advanced reporting – Acumatica includes a library of the HIPPA, ACA and IRS compliant reports that most businesses need. Export them to PDF or Excel, whichever format fits your needs.
- Performance management – Store job descriptions, annual reviews and training records, in one place. If your performance evaluation policies require that managers and staff each do part of the process, they just have to log into the portal. You can also keep track of certifications and remind people when it is time for renewal. And, look for trends with robust reports.
Selecting an earning type on time card
How Acumatica’s Human Resource Management Application Helps Your Business
- Lower admin costs – Workflows reduce the amount of data entry that your staff must do. Also, self-service portals give them access to HR FAQs online.
- Improved compliance – Access ACA and other common reports. Electronicly send benefit information to insurance carriers. And, enjoy a custom report writer.
- Anytime, anywhere access–Tailor Acumatica’s self-service portals users’ needs. Access it from any web browser.
- Easily share information – Acumatica integrates with other third-party systems, like your benefit carrier’s. So, you can adjust it to fit your needs.
Intercompany Accounting Application Included with Acumatica Accounting System for Small Business
Selecting from which branch to allocate line items in a Sales Order
- Company bank accounts – Link bank accounts to specific companies and assign cash accounts to them using the cash management module.
- Account-based controls – Choose which accounts should allow intercompany transactions.
- Asset transfers – Move assets and bring their purchase and depreciation history with them.
- Account allocations – For activities shared among multiple entities, distribute accounting transactions among them in whatever way makes the most sense for your business.
- Centralize invoicing and buying – Handle all purchasing and invoicing through integrated Sales Order management, AP and AR.
How Acumatica’s Intercompany Accounting Application Helps Your Business
- Improved security – Decide who can see each company and its transactions. You can grant access based on groups of users or role. Switch between companies without having to log out and back in again.
- Improve financial visibility – Create custom reports across one, some or all of your companies. Remove intercompany transactions on company wide reports with ease.
Mobile ERP Applications Included with Acumatica Accounting System for Small Business
- Included at no extra cost – Acumatica’s mobile applications are available anytime for free in Google play and the Apple App Store.
- Simplified record-keeping – Acumatica mobile apps allow users to enter their time cards anytime, anywhere. That way, it’s more likely that they’ll do it while the details are fresh on their mind.
- Quick approvals – In just a few clicks, you can review and approve time, sales and expense entries.
- Task management – Create a to do item using the Acumatica app and then access and edit it from the Customer Relationship Management suite later.
Main menu of Acumatica ERP android mobile app
How Acumatica’s Mobile ERP Applications Help Your Business
- Improve productivity – The Acumatica mobile apps give you access to much of the system’s most important and popular capabilities anytime, anywhere business takes you.
- Single version of the truth – Acumatica automatically syncs any changes made with the mobile device to its database.
- Improve flexibility – Extend Acumatica mobile apps to fit your business needs. Add to them using industry-standard coding languages.
- Make the most of technology – Acumatica’s mobile apps use your smart phone’s camera, fingerprint reader and other productivity enhancing features to make the system as user-friendly as possible.
Payroll Management Applications Included with Acumatica Accounting System for Small Business
Entering a new employee into Payroll
- Expense tracking – Detailed reporting makes it easy to see all your expenses and reimbursements. Use as a standalone module, or connect it with the time and attendance module, for easier, more complete record keeping.
- Time and attendance – Let employees enter their time in whatever way makes the most sense. Use timesheets, a physical time clock or an online employee portal. Once your staff enters their time, managers can review and approve it online.
- Payroll management – Get a complete payroll solution. It includes features to handle earnings, tax codes and deductions. Create W-2s and pay stubs for one company or several. Share payroll information with an external provider, or print checks in house. If you use an external provider, data will sync back and forth between your system and theirs.
- Tax forms and reporting – Prepare all required documentation. Once it’s ready, upload it to state and federal sites with ease.
How Acumatica’s Payroll Management Application Can Help Your Business
- Modernize Manual Processes – Acumatica handles a lot of payroll related data entry for you. Cut the time your staff must spend entering information and avoid errors.
- Lower administrative costs – Employee self-service portals and automation reduces the amount of paperwork your staff must handle.
- Improve integration – The system connects directly with third-party vendors like payroll services. This reduces the time you must spend on data entry and ensures that you are always working with a single version of the truth.
- Boost employee satisfaction – Give them secure access to their personal information. Allow them to enter time and expenses when and how is best for them.
Recurring Revenue Management Applications Included with Acumatica Accounting System for Small Business
- Renewals – A key feature if you offer subscription services. Acumatica helps you drive contract renewals by handling of many of the repetitive tasks that go along with this type of sale for you.
- Billing – Flexible templates and rules help you bill moreaccurately, improve cash flow and customer service. Also, if you need to cancel billing for revenue recognition schedules once they are in progress, that is not a problem
- Flexible pricing – No matter what you sell, Acumatica can handle the billing. Designed for bundled items, complex discount schemes, subscriptions, and many other common arrangements.
- Templates – Set up unique rules for products and services. Handle allocation, revenue recognition and automated billing.
Setting up a new recurring transaction
How Acumatica’s Recurring Revenue Application Can Help Your Business
- Spark business growth – Win business by giving customers the flexible pricing options they want.
- Automate billing – Let the system handle payments, recurring billing and collections. Boost performance and reduce costs.
- Customize revenue recognition – Use yearly, quarterly, monthly schedules or set up your own. You can even mix and match them on a single contract.
Tax Management Applications Included with Acumatica Accounting System for Small Business
- Audit trail – Keep tabs on all tax related transactions. Acumatica stores dates, reference numbers and which module the record came from, etc. Changes are only allowed using the proper transactions.
- Drill down – See every transaction, including the taxable amount, document type, reference number and more. Reconcile GL postings with calculated tax amounts. Easily drill down to the original transaction.
- Reporting – Set up unique requirements for each tax. Get tax details for all your tax zones and create summary reports. Generate the statistical information you need to file tax reports.
- Tax adjustments – Look over tax reports and edit them without leaving the system. Any changes you make will automatically update in the GL and the statistical tax reports.
Preparing a tax report
How Acumatica’s Tax Management Application Can Help Your Business
- Improve flexibility – Handle VAT, reverse VAT, use and sales taxes with ease. Specify more than one rate with different minimum and maximum amounts or start and end dates. Figure out taxes based on the entire document amount or by line item.
- Streamlined taxation and reporting – The tax management module integrates directly with all other Acumatica modules that depend on tax calculations. So, it can handle complex tax calculations for you automatically. You never have to wonder whether you are looking at the most up-to-date data.
- Offset with ease – Decide how often you want to generate tax reports. Easily create a bill with the proper GL posting in your AP.
Acumatica Financial Management Suite Helps Your Business
- Improve financial visibility – Financial reports and personalized dashboards give you a real-time look at your business activities and performance. And, because the entire system works from a shared database, you can always be sure that the information you are looking at is up to date and correct.
- Streamline operations – Timesaving workflow automation help you efficiently complete month-end activities with fewer errors. So, you can close your books faster.
- Work locally or internationally – Whether you currently do business on a global scale, or are looking to expand into new markets, Acumatica’s financial management suite has all the tools you need to handle multicurrency, multi-company and multi-language transactions.
- Migrate data from your legacy system – Migrating from an old ERP system has never been easier. Acumatica users can move their AR and AP historical data over to Acumatica without affecting the GL
- Manage multiple entities – Integrate financials across each of your business entities. Enjoy automated reporting, cash management and payment consolidation.
Click the Goals Beneath Your Role to Learn How Acumatica Financial Management Suite Helps You Meet Them
Goal #1 Reduce Costs
How Acumatica Financial Management Suite can help:
- With improved inventory control, you can maintain the best stock level for your business. Stop wasting money over ordering items or losing sales because you don’t have stock on hand when a customer needs it.
- Reduce IT costs. Because Acumatica is hosted in the cloud, you no longer need to maintain your own servers in-house.
- Usually, you pay for business software upfront. But, with an Acumatica subscription, you can split the cost out over the system’s lifetime.
Goal #2 Increase Productivity
How Acumatica Financial Management Suite can help:
- User-friendly workflows help you automate many common accounting tasks, freeing up your team to focus on more important matters.
- The integration between all of Acumatica’s suites means that data flows freely from one to the other. You no longer need to worry about information silos or reentering data multiple times. Also, you can always be confident the information you’re looking at is up to date.
- Acumatica is available on any device with an Internet connection. Give your staff the tools they need to get their jobs done no matter where business takes them.
Eliminate the downtime caused by lengthy software upgrades. With Acumatica, all updates are done for you, behind the scenes.
Goal #1 Staying One Step Ahead of the Competition
How Acumatica Financial Management Suite can help:
- Breakdown information silos. Because Acumatica’s suites link to each other, it delivers a single version of the truth upon which to base your business decisions.
- Automate many common administrative tasks. Free your staff up to focus more on strategic issues.
- Shorten the learning curve, unlike many other systems, Acumatica is flexible. You can easily customize it to fit the way you do business, instead of adjusting all of your processes to fit the system.
- Since Acumatica uses a single database, it’s easy to collect and analyze data for fast decision-making.
- Don’t let geography slow you down. With Acumatica, you can access all of your critical data on any device.
Goal #2 Increase Revenue and Market Share While Reducing Costs
How Acumatica Financial Management Suite can help:
- Get a handle on your inventory. Order smart based on the latest data.
- Unlike other systems, Acumatica does not charge you per user. So, you can include your whole team for better collaboration and smart decision-making.
- While it’s simple enough for small organizations, Acumatica has all the features larger businesses need to handle their accounting. So, you can grow your business without worry.
Why Choose Acumatica from Intelligent Technologies, Inc?
We’ve served the technology needs of SMBs for over 25 years. Since the beginning, ERP and CRM systems have been the focus of our business. No matter how complex your needs, chances are we have tackled something similar before. If you need customizations, our expert staff can help with those as well.
The human touch
Should you need help with Acumatica, our friendly NC based staff will there for you. No more searching for an answer yourself, or wasting time trying to figure out who you should call.
Be assured we have what it takes to meet your ERP needs now and as your business grows. Our team has been implementing and supporting ERP systems since 1991.
Acumatica believes that ERP business solutions cannot reach their full potential unless everyone in your organization, and even important stakeholders outside of it have access to the information they need. So, Acumatica pricing is not based on the number of users you have, but rather on the features and resources you use.
Acumatica pricing is based on these three factors
What type of license do you want?
What applications you want access to right away?
How much computing power and data storage will you need?
The available license choices are
- A SaaS subscription (pay an annual fee to run the software on the public cloud)
- Private cloud subscription (pay an annual fee to run the software on premise or through a hosting provider)
- Private perpetual license (pay a onetime fee for the license upfront plus, recurring annual maintenance for the software and deploy it on your own servers or with a hosting provider) This option is similar to how most legacy ERP packages are purchased.
How much computing power you’ll need is based on your transaction volume.
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