Big Things Coming to Acumatica 2020 R2: A Deeper Look at Finance, Platform and Administrator Updates
You’ve probably heard that among the many benefits of working with a cloud vendor is that you receive frequent and robust updates. With Acumatica, you can expect this—it’s promised in their customer bill of rights, it’s been delivered consistently since their inception, and it’s been documented in a 300-plus page document that we’d like to try scratching the surface of.
After last month’s Acumatica 2020 R2 sneak peak, we would today like to provide an in-depth look at even more of the enhancements coming to the Acumatica product in R2 2020—as well as invite you to watch an exclusive webinar discussing how these can help you.
Acumatica Finance Management: Connect Your Business
As with any ERP solution, financial management is generally the biggest part of the product. From making credit card and other transaction processing easier to facilitating intercompany interactions, Acumatica has put a variety of new enhancements to the financial management solution. Here are just some:
Credit Card Payments with Optional Customer Payment Methods: Prior to the R2 2020 release, it was impossible to process a credit card payment without saving the payment profile information. Acumatica’s R2 2020 has taken steps to allow businesses to process transactions without saving payment profile information.Credit Card Transactions Linked to Payments: In previous versions of Acumatica ERP, credit card transactions created in the system were linked to sales orders and SO invoices. However, R2 2020 changes this, allowing credit card transactions to directly link with payments. Learn more about this and other credit card enhancements in our video.
Improved Usability of Bank Transaction Processing: In Acumatica ERP 2020 R2, multiple UI and functionality improvements have been introduced to bank transaction processing to make it easier for users to process bank transactions.
- Improvements to the AP Aging Reports: An important enhancement in R2 2020, the ERP provider has taken steps to update the AP aging reports, helping users to see a bit more about their business.
- Improved Reconciliation Statement Report: In Acumatica ERP 2020 R2, multiple changes have been made to the Reconciliation Statement report. The new version of this will show much more information previously unavailable, including starting balance, cash account balance, and lists and totals of unreconciled and reconciled disbursements. Watch the video here.
- Streamlined Intercompany Sales: One of the most requested improvements, intercompany sales are now much easier to manage. Previously, accountants on both sides of a transaction created an extra entity to complete a transaction, the new R2 intercompany sales will allow users to easily process sales transactions between legal entities implemented as companies or branches in the same tenant.
With a variety of other improvements—the addition of a negative extended price, better support for transaction matching, the addition of retainage to credit memos, the ability to restrict visibility of customer records, and so much more the financial management solution continues to deliver for users.
Platform: Fueling the Engine for Future Innovation
While directly-used functionality is key to users, it’s also important to look at the improvements being made under the hood that will deliver improvement across the business and prime the platform for innovation in the future. Whether that’s AI or easier scanning of documents, Acumatica is known for putting out massive platform improvements, including:
AP Document Recognition: With previous versions of Acumatica ERP, if users received emails with attached invoices from vendors, they had to manually enter AP bills based on those invoices into the system. Time consuming and inaccurate, Acumatica decided to implement AP Document Recognition to increase speed and accuracy.
Business Event Improvements: New in this version, users now can view and create business events in a dialog box on some of the entry forms. These events will serve as notifications to be used in the future. We discuss this more in our demo.
Import Scenario Improvements: Designed to improve the logic and performance of import scenarios and help users manage substitutions more easily, Acumatica has taken steps to make your job easier with improvements to import scenarios, some of which we discussed in a recent video.Administration, Integration, and More: Built for Your Business
In addition to the core and underlying functionality discussed above, you can expect a variety of improvements for administrators as well. Though we can’t discuss it all here, you can read about just a few improvements below:
System Event Monitoring improvements: Track errors and warnings while saving money with visibility over resource-intensive processes. Get granular detail into types of warnings and more.Detailed View for ERP Transactions: Admins now can view transaction details for both commercial transactions and ERP transactions instead of the previously allowed commercial transactions.
UI Enhancement, Recently Viewed Records: Help users to stay organized with a list of recently viewed records in the system. The system keeps the last 500 records a user has interacted with and provides easy access to recent information.
User Defined Role Visibility: Users now have more control over the forms, now able to determine which field is hidden and which is required.
Workflow Engine Improvements and Visual Editor: The workflow engine has been improved, and workflows for the Sales Orders and Shipments forms have been redesigned. Added to this, users now have access to a visual editor for workflows, allowing them a clearer picture in setting up a flow.
API Improvements: Lot of improvements including the migration from Avalara SOAP API to REST API, the introduction of contract-based API Version 4, and changes to a variety of web services APIs, all designed to make the connections more resilient and data processing more efficient.
So Much More Added—Get to Know More about How Acumatica Makes Your Life Easier
With over 300 pages discussing every single feature being added or changed, there’s no way we can explain it all here—we haven’t even discussed the big payroll improvements, CRM updates, changes to the field service functionality, or the improvements to Commerce Edition.
But we can, however, provide a lot more detail at our Acumatica R2 2020 launch event.
With a variety of enhancements coming to the platform, it’s important to understand and discuss how these are going to impact your business. That’s why we’re excited to announce a new event created to provide in-depth analysis from the people closest to the product.
Whether you’re a prospect looking to understand the extensive advancements that a potential vendor can make in just a few short months or are a current customer looking to make the most out of your Acumatica software, this event is for you.
Looking to learn more? Join Cloud 9 ERP Solutions as we highlight the big things coming to this solution. Click here to watch now!
