2018 Review of Acumatica
Feb. 19, 2018
From the 2018 reviews of Cash Management systems.
Acumatica Cloud ERP is a robust accounting system offering excellent cash management functionality. Ideal for businesses of all sizes, Acumatica offers a variety of editions and industry-specific solutions, including Cloud ERP Small Business Edition, Cloud ERP Advanced Edition, a Commerce Edition, a Field Service Edition, a Manufacturing Edition, and the new Cloud ERP Construction Edition, aimed at an end-to-end business management system for general contractors, home builders, subcontractors, specialty contractors and land developers. Acumatica offers a cash management module that is completely integrated with other Acumatica modules including GL, AP, and AR. All transactions are posted in real time, with both reports and financial dashboards reflecting current totals. As a cloud-based system Acumatica is accessible from any location, using any device, including smart phones and tablets.
The product offers solid cash forecasting capability, including a 30-day cash trend report that examines activities in all cash accounts as well as both AR and AP modules to provide the detail needed to better forecast future revenues and expenditures. Acumatica also offers Petty Cash Management, with a detailed view of all transactions processed through petty cash. The Cash Account Summary report provides users with an up-to-date view of all related cash accounts. Users will also find the Dashboard functionality in Acumatica useful, with the option to design custom, role-based dashboards that offer detailed views of all cash management data.
The cash management module also allows users to easily import bank transactions and reconcile statements automatically. Once the bank file is imported, users can utilize the Process Bank Transactions option to automatically match corresponding transactions. Any transactions that have not been accounted for can be quickly entered on the fly, so users can quickly bank fees and interest payments. Users can also track missing and outstanding transactions as well.
Acumatica allows users to maintain an unlimited number of budget scenarios, with the ability to have budgets approved prior to use. Comparative budget reports are available and users can also provide staff members access to budget input while restricting access to confidential information.
Cash account reports are available for users to better reconcile cash accounts, and offer the ability to drill down to access all related transaction data. Users can also create cash forecasts, as well as cash reserve reports for more accurate management of cash reserves.
All Acumatica reports are fully customizable, and reflect the most current data in the system. All reports contain deep drill-down capabilities, with users able to easily access originating transactions for any reports. Reports can be viewed on screen, printed, emailed directly to recipients, or exported to both Microsoft Word and Excel, as well as saved as an HTML document or PDF.
Acumatica is hosted on Amazon Web Services (AWS) and follows strict guidelines to help guard against both physical and environmental threats. Physical access to the servers is controlled by both security personnel and video surveillance, with all access requiring two-factor authentication. Users can easily control access to all company cash accounts, with only authorized individuals able to view and access sensitive banking information. Acumatica also offers excellent audit trail functionality, with all user activity recorded in the system, with management able to view the details at their convenience. There is also an option to attach notes and related documents to all system transactions, if desired.
Acumatica allows users to easily transfer funds between all cash accounts, with the ability to track any in-transit funds easily. The product also supports an unlimited number of currency types, with the product automatically calculating any realized gains and losses from foreign currency transactions. Users can also maintain account balances in both native and local currencies, an excellent solution for global organizations.
Acumatica offers a completely integrated system, with all modules seamlessly integrated. Users can choose to use the modules they need today and later acquire additional modules as needed. There are a number of targeted applications available, with each application offering its own set of modules. The Financial Management modules available include GL, AR, AP, Cash Management, Currency Management, Tax Management, Deferred Revenue Accounting, Inter-Company Accounting, Recurring Revenue Management, Fixed Assets, Mobile ERP Applications, Human Resources Management, and Payroll Management. Other applications available include Distribution Management, Customer Management, Project Accounting, Manufacturing Management, Field Service Edition, and a Commerce Edition, each offering a unique set of modules.
Licensing options include an SaaS subscription, Private Cloud Subscription, or a Private Perpetual License. Pricing is available from a worldwide network of partners, or upon request directly from Acumatica.
Overall Rating – 5 Stars