Acumatica Accounts Payable

This blog is taken from the notes that our senior consultant made during his certification training for Acumatica and focuses on the Financial Management Features.

 

Throughout the training our senior consultant made comparisons to other Mid-Range ERP (MERP) Systems so that we could see where Acumatica really is a step above the rest.

 

“Acumatica has some great features and improvements over what other MERP Systems offer.”

 

Acumatica Cloud ERP – Accounts Payable

Built-in EFT Export Capabilities – out of the box Acumatica has one basic bank format but thanks to the included integration manager we can configure many more bank file formats really easily, no need for any additional software to be purchased to handle this.

Corporate Credit Card Processing – if you’ve ever experienced the pain of reconciling credit cards issued to staff then this feature is for you! It’s more of a pre-designed walkthrough than a feature of the system but it’s very nicely handled here.

Vendor Refunds – Again, this is another complaint of other MERPs. Why do they have to make it so difficult to receive money back from a supplier? In Acumatica, all you have to do is raise the debit memo and create a payment using the Vendor Refund type. Then you can reconcile it in your bank. Easy!

Payment Lead Times – Royal Mail let you down again by not delivering on time leaving you to explain why you haven’t paid an invoice? Acumatica allows you to create cheques days in advance of the actual document due date allowing you plenty of time to get them posted out to suppliers.

Advanced Vendor Discount Processing – Not sure if paying an invoice in an earlier payment run will give you that discount you agreed? Acumatica allows you to select all invoices that will qualify for the discount if paid in the next few days. I wonder if it also prints out the apology letter to your supplier!