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Acumatica Finance Suite: Modules/Workspaces

The video (43 min, 2/2020) below gives you quite a deep dive into the Acumatica Finance Suite, which is a very solid accounting application.

  • Overview 

The finance suite consists of the following modules or workspaces

  • General ledger

  • Cash management

  • Accounts payable

  • Accounts receivable

  • Other great features

    • Employee management

    • Time and Expense management

    • Tax management​

    • Currency management

    • Recurring revenue management

    • Financial reporting

Each one will be described in some detail next.

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  • General Ledger (GL)

    • The general ledger maintains the charts of accounts and controls financial periods, ledgers, allocations, assets and liabilities, and more. Acumatica’s GL management system is integrated with other modules, giving you instant access to timely, accurate financial data.

Video ( 4 mins) on setting up accounts and sub accounts.

Video ( 10mins, 2020) on setting up fiscal/financial periods.

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  • Cash Management or Banking

    • The cash management module enables you to debit or credit bank accounts, cash accounts, credit card accounts, and loans against accounts receivable or accounts payable accounts. It also enables bank reconciliation, cash flow forecasting and a the running of a  multitude of financial reports.

    • Video â€‹ (1.5 mins, 2016)

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  • Accounts Payable

    • The accounts payable module ​monitors your cash flow by tracking all your outstanding invoice payments as well as available discounts, due dates, and cash requirements. It enables you to automate the receiving of invoices from your suppliers and sub-contractors. It also ensures timely and accurate payment to those creditors, which can improve your relationship with them because they appreciate it greatly. Learn more about accounts payable automation.

    • Video (3 mins, 2016)

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  • Accounts Receivable

    • The accounts receivable module  helps you to track all the money your company is owed but has not collected yet. This includes invoices you’ve sent for products or services you’ve already delivered​. It helps you generate invoices, send statements, collect and apply payments, verify balances, track commissions, and deliver customer reports.

    • Video (8 mins)

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  • Other features

    • Other great features of the finance suite consist of:​

      • Employee management

      • TIme and Expense management

      • Tax management

      • Currency​ management

      • Recurring revenue management​

      • Financial reporting

  • Employee management

    • The employee management feature enables you to do the following:

      • Build an organization structure, and add employee to that structure

      • Create user roles, assign access rights, create user ids and passwords, and create user types. All this is covered in the Acumatica User Role and Security webpage.

      • Workforce management

        • Assigning work to employees. For instance, assigning leads to sales people. assigning activities to people, ​

        • Workflow management

          • Setting up approval procedures for eg. POs, Bills, vendor payments, customer invoices, etc. ​

Click here to learn how Microsoft Office 365 StaffHub, MS Planner or MS Teams can be integrated with Acumatica Employee Management

  • Time and Expense management

    • The time and expense management feature enables you to do the following:

      • Record the start and end time of an employee for each day

      • Record expenses such as travel expenses, education expenses, etc. This expenses can also be captured via a scan from the Acumatica mobile application 

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  • Tax management

    • The tax management feature streamlines and automates the tasks involved with configuring, collecting, managing, and reporting tax. Tax Management integrates with the rest of the Acumatica Financial Management suite, enabling you to centralize your tax information and easily generate the tax filing reports that are required of your business

    • More

  • Currency management

    • The currency management feature helps you increase your volume of international business while staying in control of your finances. Advanced features let you support all your international subsidiaries, vendors, and customers. With Acumatica, you can automatically compute realized and unrealized gains and losses, perform account revaluations, and translate complete financial statements.

    • Video ( )

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  • Recurring revenue management

    • The recurring revenue management feature enables automated recurring billing from Acumatica. Enjoy the flexibility to adapt as your business grows and your billing needs change. Improve cash flow, billing accuracy, and customer service.

    • Video ( 2.5 mins, Feb 2018)

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  • Financial reporting

    • The financial reporting feature enables you to run a multitude of financial reports such as Profit and Loss statement, Balance Sheet by location, by product, by period, by year, etc.

    • You can drill down from these statements to a sub account, and further down to the journal transactions for a a specific sub account.

    • A powerful Analytical Report Manager (ARM) tool enables you to develop your own reports online interactively.

    • Video (3 mins, 2016)

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Financial Management Datasheet

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