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Emphasizing the Applications and Platform Enhancements in the Acumatica 2018 R1 Release

Acumatica has significantly upgraded the Acumatica 2018 R1 which boasts new enhancements to the revenue recognition requirements with ASC 606 support that makes it easier to manage complex multi-element sales scenario needed by ASC 606 and IFRS 15.

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Emphasizing the Applications and Platform Enhancements in the Acumatica 2018 R1 Release

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  1. Emphasizing the Applications and Platform Enhancements in the Acumatica 2018 R1 Release |Rupsha Dasgupta Usability Acumatica has made creating, filtering and displaying generic enquiring convenient, allowing the users to access vital and specific data in order to present it for analysis. The notification triggers have been enhanced to create a proactive way of managing any account achieved by sending mail notifications whenever data is updated or any set of predetermined conditions are met. It is also much easier to configure and display any dashboard element with upgraded mobile applications that have customized dashboard configurations. Budgetary Allocations Acumatica manages your accounts and finances in the most efficient manner, coordination transactions across departments and branches. It provides required logistics to track financials for organizations and subsidiaries that need inter-company accounting and can distinguish companies from branches and departments. It assigns the transactions to different account heads or branches during reclassification. It even permits the splitting of transaction amounts and transfer parts of it to other accounts, subaccounts or branches.

  2. Acumatica has significantly upgraded the Acumatica 2018 R1 which boasts new enhancements to the revenue recognition requirements with ASC 606 support that makes it easier to manage complex multi-element sales scenario needed by ASC 606 and IFRS 15. Modern business manages several branches and subsidiaries Acumatica catersto such customers with features that enable them to operate in complex, multi-entry environments where financial transactions must be tracked between subsidiaries or business units swiftly and efficiently. Acumatica bolstered its capabilities to handle revenue splits reclassification and made customer-driven improvements to the revenue recognition engine within the module. Acumatica added more capabilities to its AR/AP from the foundation of modern accounting and is also its largest pain point. Acumatica added more capabilities to its AR/AP reconciliation tools, including enhanced bank reconciliation and credit card reconciliation functions to address this issue in 2018 R1. CRM Acumatica enables users to create multiple quotes for a single opportunity. Once an offer is accepted. A sales order and invoice can be created based on the quote. Users can also choose to transfer leads, business accounts, opportunities, stock and non-stock items and sales prices to achieve sales force integration. PROJECT ACCOUNTING Experience all out control in the project details, including customer and internal requests. The workflows can be efficiently defined and approval processes can be swiftly managed with full business intelligence visibility and audit trail control. Progress billing and pro forma invoices have been introduced in 2017 R2, and the updates enhance functionalities which support time and material, tasks, cost codes, and retainage for the construction industry. GROUND PERFORMANCE Standardized service contract billing efficiently defines the services that will be accounted for in the billing period with the frequency of appointments or hours, the standard fees, and the overage prices. It also enables the invoice system to inform the customer about the amount charged along with the overage amount. PLATFORM Acumatica holds the licence given by resource levels and not by user counts which makes a lot of difference. Resource levels range from small to large (XS to 5XL+) and control parameters

  3. influencing system performance, such as database space allocated for Acumatica ERP data, number of transactions and number of requests per hour for the web services API. Exceeding any of these limits indicates the owner should consider a higher resource level. This enables administrators of the following: • View resource limits associated with their license • Display resource violation warnings and drill down for detail • Monitor current resource utilization

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