Acumatica Financial Modules: Complete Guide

Introduction

Acumatica provides a comprehensive suite of financial modules that work together to manage all aspects of your organization's finances. This guide covers the core financial modules and their integration.

General Ledger

The General Ledger is the heart of Acumatica financial management.

Chart of Accounts

// Account structure example
// 1000-1999: Assets
// 1000-1099: Current Assets
// 1100-1199: Fixed Assets

// 2000-2999: Liabilities
// 3000-3999: Equity
// 4000-4999: Revenue
// 5000-5999: Cost of Goods Sold
// 6000-6999: Operating Expenses

Journal Entries

// Create Journal Entry (GL301000)
// 1. Enter batch number
// 2. Add multiple journal lines:
//    Debit: Expense Account $1,000
//    Credit: Cash Account $1,000
// 3. Verify balances
// 4. Release to post to GL

Financial Reports

// Standard Reports
// - Balance Sheet
// - Income Statement (P&L)
// - Cash Flow Statement
// - Trial Balance
// - Account Details

Accounts Payable

Manage vendor invoices and payments efficiently.

Vendor Setup

// Create Vendor (AP303000)
// - Vendor ID
// - Vendor Name
// - Account Settings:
//   - AP Account
//   - Prepayment Account
// - Terms: Net 30, Net 60
// - Tax Settings
// - Payment Settings

Invoice Processing

// AP Invoice Entry (AP301000)
// 1. Enter Vendor
// 2. Add line items
//    - Inventory/Non-Stock Items
//    - GL Account
// 3. Apply taxes
// 4. Set payment schedule
// 5. Release to post

Payment Processing

// Check Run (AP302000)
// 1. Select vendors
// 2. Apply payments to invoices
// 3. Print checks or create ACH
// 4. Post payments

Accounts Receivable

Track customer invoices and collections.

Customer Setup

// Create Customer (AR303000)
// - Customer ID
// - Customer Name
// - Billing Address
// - Credit Limits
// - Statement Cycle
// - Payment Terms

Invoice Processing

// AR Invoice Entry (AR301000)
// 1. Select Customer
// 2. Add line items
// 3. Apply taxes
// 4. Set due date based on terms
// 5. Release to post

Collections Management

// Collections Screen (AR4020S)
// - Customer aging report
// - Promised payment tracking
// - Collection notes
// - Customer communication log

Cash Management

Manage cash flow and bank transactions.

Bank Account Setup

// Cash Management Setup (CM101000)
// 1. Create Bank Account
// 2. Configure:
//    - Bank Account Number
//    - Routing Number
//    - Default Currency
//    - GL Account mapping

Bank Transactions

// Bank Transactions (CM301000)
// - Checks and Deposits
// - Wire Transfers
// - ACH Payments
// - Bank Fees
// - Interest Income

Reconciliation

// Bank Reconciliation (CM304000)
// 1. Import bank statement
// 2. Match transactions
// 3. Identify discrepancies
// 4. Post reconciled items

Fixed Assets

Track and depreciate fixed assets.

Asset Setup

// Fixed Assets (FA402000)
// - Asset ID
// - Description
// - Asset Class
// - Acquisition Date
// - Cost
// - Depreciation Method
// - Useful Life

Depreciation Methods

// Methods available:
// - Straight-Line
// - Double Declining Balance
// - Sum of Years Digits
// - Units of Production
// - MACRS

Best Practices

Close periods properly - Follow proper period-end closing procedures
Reconcile regularly - Monthly bank and sub-ledger reconciliation
Use approval workflows - Configure document approval limits
Implement controls - Segregation of duties in financial processes
Generate timely reports - Daily/weekly financial reviews
Monitor cash flow - Daily cash position monitoring

Summary

Acumatica's financial modules provide comprehensive capabilities for managing all aspects of your organization's finances. Understanding each module and their integration is key to maximizing your investment.

For more Acumatica guides, check out Acumatica Multi-Company Setup and Acumatica Inventory Management.