Acumatica Financial Management
Much like the human body, business management software orchestrates dozens of moving parts—some manual and some automatic. Similarly, both rely on a central nervous system to process the information and make use of data. When it comes to software like ERP, financial management functionality is this central processing system.
Financial Management: The Center of Business Management Software
Financial management brings together a wide variety of data from across the organization—whether that’s payables, receivables, and cash management, data from customer management needed to recognize revenue, or connecting to inventory and tax management for product-based businesses.
Acumatica provides all this and more in their Financial Management product. Simple enough for small shops and comprehensive enough for complex multi-nationals, Acumatica provides businesses with a full suite of accounting functions to track daily financial operations and generate quarterly and annual financial statements.
With Acumatica Financial Management, businesses like yours are able to see more clearly than ever, operate more efficiently, and consolidate and report with ease.
Part of a larger suite of Acumatica applications, this product comes fully integrated with Acumatica’s Customer Management, Distribution Management, Manufacturing Management, Field Services Management, and Project Accounting product suites, with easy connection to a variety of third-party applications.
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What Goes into Acumatica Financial Management?
One of the biggest strengths of Acumatica lies in its flexibility. With a variety of functional products in its Financial Management Suite, Acumatica delivers the following and more:
General Ledger: Bring together Your Business
The General Ledger (GL) is the primary accounting record for a business. The GL summarizes the organization’s various financial accounts and transactions, such as accounts receivable, accounts payable, fixed assets, and inventory. Customized for your business, Acumatica General Ledger gives you the control you need, no matter how granular the detail.
Accounts Receivable: Track and Collect with Ease
Accounts receivable software helps you track all the money your company is owed but has not collected yet. Facilitate the process of creating invoices, open your business to credit card payments, manage customer credit lines, and track every dollar owed.
Accounts Payable: Pay Suppliers, Build Relationships
Accounts payable software helps you track and pay all the money your company owes other companies. With Acumatica’s accounts payable software, you can monitor your cash flow by tracking all your outstanding invoice payments as well as available discounts, due dates, and cash requirements. Speed up the payment process, build relationships with suppliers, and pay quickly, accurately, and securely.
Cash Management: Control the Lifeblood of Your Company
A cash management system is essential to business health because cash is the lifeblood of any company. Acumatica brings your cash needs into one place, providing you with accurate reports, summaries, and drill-down functionality. Integrated with the rest of the Acumatica suite, you can streamline your cash management and improve your spend.
Currency Management: Optimize Your International Business
Currency management is more than automated calculations. With Acumatica Currency Management, you can minimize financial risk from currency fluctuations and optimize your conversion rates by tracking fluctuations and acting at the best time.
Tax Management: Protect Yourself During Every Transaction
The right tax accounting software will let you configure tax rates, perform tax accounting, and generate tax reports all in one place. It will also integrate with your financial management modules to let you calculate taxes correctly in every transaction. Find out how better accounting software can save you time and money.
Deferred Revenue: Meet the Needs of New Revenue Recognition Standards
Timing your revenue is necessary to the health of your business. Misstatements can cause chaos, and especially in the wake of recent standards, poorly tracked deferrals can hurt your company. Automate deferred revenue calculations by assigning a schedule to any affected transaction line item or inventory component. Accurately implement and account for deferred revenues and deferred expenses through integration with other financial modules.
Intercompany Accounting and Reconciliation
A crucial process for any company that has at least one subsidiary, intercompany accounting and intercompany reconciliations can create headaches if the process is not automated. Acumatica lets you automate financial reporting, inventory transfers, vendor, payments, cash management, and inter-company transfers across multiple related companies.
Recurring Revenue Management: Control Subscription Cash Flow with Ease
Custom-fit your billing models to meet the requirements of your business with automated recurring billing from Acumatica. With flexible billing options, an automated process, and easy-to-scale billing, you can manage the complexity your business faces with ease.
Fixed Asset Management: Track Depreciation without Spreadsheets
Maintain complete visibility of fixed assets and depreciation calculations. With Acumatica, you can easily add fixed assets directly from AP purchases, import from a file, or add individually. Better yet, Acumatica offers the flexibility to age inventory and assets using either a pre-defined depreciation schedule or custom ones.
Mobile ERP: Take Your Solution with You
Built in the Cloud, Acumatica delivers the access you (and only you) need. With top of the line security, user access controls, and mobile-friendly interface, you can take your financial management platform on the go, all while providing you with the exact same version of each document as the home office.
“Acumatica has completely changed our business. I just look in the accounting and all the information from the sales is in there … For our business that’s a big deal.”
– Ronald Krieger, CFO, Consolidated West Distributing
Control Your Finances with Acumatica by Cortekx
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