Acumatica Finance & Accounting

Supports one actual ledger plus unlimited additional ledgers per company, so organizations can keep actual figures alongside statistical, budget, and reporting data. Includes reporting and statistical ledger types for parallel views of financial information.

Creates vendor records with the tools to enter and organize vendor data efficiently, including planning attributes, default settings, locations, and security controls.

Creates customer accounts holding all the information needed to do business with each customer, including addresses, locations, contacts, payment settings, and financial, purchase, and mailing preferences.

Supports an unlimited number of cash accounts, kept separate from the general chart of accounts yet linked to GL accounts, to give a clear read on cash flow.

Sets up revenue and expense recognition by turning on Deferred Revenue Management and defining the deferral codes it needs.

Chooses a depreciation method and its settings on a per-asset basis, drawing from a range of options including region-specific and table-based approaches.

Sets up the base configuration, entities, and initial terms needed before a business can begin drafting contracts.

Lets employees record and submit individual expense receipts for approval and reimbursement, following the expense policy each company configures.

Groups general ledger accounts into account groups used to track project budgets, costs, and future revenue in project-related documents.

Sets up the legal companies and branches that make up an organization, each with its own balance sheet and tax reporting where multibranch or multicompany support is enabled.

Lets each company build a structured chart of general ledger accounts tailored to its needs, from account numbering through ongoing maintenance. Covers account identification, retained earnings handling, denominated accounts, and posting and consolidation settings.

Links customer accounts representing franchises, branches, or other units into parent-child hierarchies, so billing and credit can be managed at the group level.

Records cash-only transactions — funds transfers, cash entries, and transfer-related fees — that don't touch customer or vendor balances, and keeps a check register.

Manages deferrals end to end, with deferral codes assigned to stock and non-stock items driving automatic recognition schedules, adjustments, and contract revenue.

Lets employees categorize and track purchases, including project-related spending, made on a company credit card, alongside any out-of-pocket expenses awaiting reimbursement.

Sets up ready-made email mailings for sending customer documents out of the sales order and accounts receivable subledgers.

Configures the payment methods the organization uses to pay vendors and the methods customers use to pay the organization.

Handles revenue recognition for packages sold as multiple-deliverable arrangements (MDAs), splitting a single package price across components with different recognition treatment.

Defines payment due dates, cash discount conditions, and single- or multiple-installment terms that a buyer must meet to purchase on credit, configured through the Credit Terms (CS206500) form.

Bundles one or more expense receipts, covering costs such as travel, lodging, and freight, into a claim that is prepared, approved, and reimbursed as a unit.

Configures how a fiscal year is broken into periods, since every transaction must post to a defined period. Covers both the initial setup and later adjustments to that year layout.

Captures cash entries carrying the Disbursement or Receipt type and moves them through the rest of system processing.

Generates periodic customer statements summarizing financial activity and ending balance for a statement cycle, which customers use to reconcile their account.

Calculates the cost of items produced in manufacturing using either an actual or an estimated costing method.

Generates financial calendars made up of years and periods in which the organization records revenues and expenses. Supports a master calendar, company-specific calendars, multiple calendars across entities, and period adjustments within a year.

Creates non-stock items for services, labor, charges, or goods that do not require warehouse quantity tracking.

Records and releases fund movements between bank accounts, and likewise between cash accounts sharing the same linked GL account.

Handles ongoing contract operations after activation, such as changing terms, canceling the last recorded action, renewing, and terminating a contract.

Tracks cash payments to simplify reconciliation, accommodating the different ways banks record finance charges and deposits.

Records the services delivered under an active contract as contract usage, which is the basis for billing runs, with the record type varying by the scenario a business is tracking.

Corrects a released sales invoice, either through a correction invoice that supersedes it or by canceling the original and issuing a replacement, or no replacement at all.

Covers creating and releasing vendor bills, with reports and inquiries for tracking the resulting transactions.

Imports, tracks, and matches bank statement records against transactions in the system, giving fast and accurate tools for cash account reconciliation.

Produces printed dunning letters using Dunning Letter (AR661000), a report that can be customized through Acumatica Report Designer.

Bills recorded contract usage according to scenario-specific rules, covering ongoing services such as hosting or connectivity as well as maintenance agreements tied to a warranty period.

Reconciles cash accounts against bank records to surface discrepancies between balances tracked internally and by the bank, supporting strong internal control over cash.

Corrects released AP documents by issuing debit adjustments that reduce the payable balance or credit adjustments that increase it.

Covers creating, releasing, and tracking customer invoices, including applying payments during the invoicing flow.

Creates bank deposits automatically for credit card payments and electronic funds transfers settled with the bank, removing manual deposit entry.

Calculates additional charges on any document past its due date as of a chosen calculation date, grouped either by statement cycle or by customer class, and reflects the charges on customer statements.

Configures government-contracted projects such as public construction work, capturing the guaranteed labor rates, associated deductions and benefits, fringe amounts, and reporting obligations tied to the contract.

Corrects issued invoices by creating credit memos and debit memos rather than editing released documents.

Writes off small or uncollectible customer balances directly, supporting a credit-based write-off as well as a balance-based one under this direct approach.

Imports trial balances, GL transactions, vendor and customer master records, and outstanding open documents from a prior system during migration, cutting down on manual re-entry.

Records a customer payment against an invoice, then releases the payment together with how it was applied to settle the receivable balance.

Records funds received against a sales order, whether collected in advance or at time of shipment, so businesses can track what has and has not been paid.

Creates and releases customer prepayments, applies them to invoices, and reverses prepayment applications when needed.

Builds a consolidated financial statement for a parent and subsidiary running on different base currencies, using the Analytical Report Manager toolkit.

Generates a prepayment invoice carrying the sales order's items and tax on the prepaid amount, either created directly from the order or linked after being created manually.

Handles customer prepayment invoices for jurisdictions where taxes on prepayments must be reported in the period the money is received.

Fixes batches that posted with the wrong ledger account, subaccount, or branch by reclassifying entries instead of reversing and re-keying them.

Pays AP bills at the individual line level, giving organizations granular control over which expenses within a document get settled.

Supports retainage billing, letting a customer hold back a portion of what's owed until agreed contract terms are met — common in construction.

Compiles a sales tax report for a given company, tax agency, and open reporting period, streamlining the periodic filing that businesses owe to each tax authority.

Withholds a portion of contract amounts from vendor payments until work is completed, a requirement common in construction, when the Retainage feature is enabled.

Applies a chosen valuation method to track each stock item's cost over time, feeding accurate cost-of-goods-sold figures into sales and inventory postings.

Lets users select the company, branch, period, and state for a filing and hands off to the Aatrix website to complete and submit the report.

Lets users key in a mixed batch of documents on one journal voucher screen, spanning cash receipts, customer invoices, prepayments, disbursements, vendor bills, payments, and general ledger entries.

Handles vendor prepayment invoices, including jurisdictions where VAT must be recognized and reported at the time a deposit is paid to a supplier.

Stores and updates customer credit card information and uses it to collect invoice payments, including mass-processing of card charges.

Closes a given accounting period within the inventory subledger ahead of the general ledger close, blocking any further postings to that period.

Integrates with external payment processors such as BILL, removing the need to store vendor bank details locally when vendors are connected to the same platform.

Breaks a project's budget down by financial period to compare monthly budgeted amounts against actual revenue and expenses.

Extracts data from vendor invoice PDFs received by email and turns them into AP bills automatically, eliminating time-consuming manual entry.

Fixes a set of project-related general ledger transactions that were posted with incorrect account, branch, project, cost code, or task data.

Tracks payments made to US-based independent contractors and generates the IRS's 1099-NEC and 1099-MISC forms needed for filing.

Generates T5018 and T4A forms and files them electronically with Canada's tax authority, the CRA, covering contract payment reporting for construction businesses.

Prepares consolidation units and imports subsidiary financial data into the parent company, completing the group consolidation cycle.

Automatically calculates and applies taxes on documents entered for a project, including project-specific tax zones and change order tax handling.

Tracks project costs and revenue in a project-specific currency alongside the company's base currency, including billing customers in their own currency.

Records an advance payment made to a vendor against a purchase order, which the system later applies on its own to the AP bill it produces.

Generates a prepayment invoice from a purchase order so tax on a vendor deposit is recognized when the payment is made and included in that period's report, a requirement in certain countries.

Accounts for the gap between what an item costs per unit on its purchase receipt and what it costs per unit on the resulting bill, a difference that can stem from exchange-rate shifts or vendor price changes.