Accounting & Audit
2017 Review of Acumatica Cloud ERP – Accounts Receivable Functions
Acumatica Cloud ERP is a complete accounting application that offers excellent accounts receivable functionality. The core financial application contains GL, AP, Purchasing, AR, and Cash Management functionality, but the product also offers industry ...
Mar. 22, 2017
Acumatica Cloud ERP is a complete accounting application that offers excellent accounts receivable functionality. The core financial application contains GL, AP, Purchasing, AR, and Cash Management functionality, but the product also offers industry specific solutions as well. Acumatica is best suited for small and mid-sized businesses with multiple locations that have more complex needs.
Acumatica allows users to easily manage their customer base. Users can manage AR more pro-actively entering a number of details about each customer, such as customer class, terms, write- off limits, credit verification information, and credit limit. Users can choose their preferred form of payment, and can also accept advance payments for customers as well. Acumatica tracks all payment and order history, so information is available to users at any time. Overdue invoices can have a finance charge calculated automatically, with users able to calculate charges by percentage, fixed amount, or a minimum charge amount.
Acumatica processes credit memos for customers when necessary, and the AR processing flow ensures that any customer with a credit attached will have the credit applied to any balance due prior to posting a payment to their account.
Automatic integration with the Order Management module allows users to create return authorizations and apply credit memos accordingly. Users can apply payments to multiple invoices by simply accessing the appropriate customer and related invoices, and Acumatica also allows users to accept cash payments, as well as payments on invoices.
Acumatica is a completely integrated system, so the AR module works seamlessly with other core accounting modules. Acumatica also supports multiple currencies, so users can create invoices and accept payments in multiple currencies, with real-time adjustments made to reflect exchange rates.
The product also offers mobile apps, so users can access the system using their smart phone or tablet. Acumatica also accepts online credit card payments.
Acumatica offers a variety of reports including high-level reporting options that allow users to drill down to originating transactions. System reports and dashboards are available that help users spot payment issues promptly, including the display of over-limit accounts and expiring credit cards. Also available are related charts and graphs that provide real time information regarding the status of system invoices, including a complete customer aging report, invoice analysis, and even deferred revenue. AR reports can be run using a variety of criteria, including project, customer, location, or department. All Acumatica reports offer drill-down capability, and all reports can be viewed on screen, printed, or saved as an HTML document, PDF, or exported to Microsoft Word and Excel. All reports can also be shared with recipients via email if desired.
Acumatica is a fully integrated system, with all modules working together. The product offers industry-specific applications along with the core financials which include Distribution, Manufacturing, Project Accounting, CRM, and Retail and e-commerce capabilities.
Acumatica is a robust finance and accounting application that is well-suited for mid-sized businesses that require more complex finance and accounting capability. The product offers flexible deployment methods and integration with a robust sales/CRM application. Acumatica can be used on a PC, Mac, tablet or phone for added convenience. Current pricing for Acumatica is available upon request.