Tag: Acumatica

Setting Up and Running Recurring Transactions in Acumatica Cloud ERP

Last month, we discussed how uploading journal transactions in Acumatica Cloud ERP was one way of solving the problem of hand-keying large, multiple line journal entries into your general ledger each month. Having to make entries for depreciation expense, expensing pre-paids, allocating costs or making accruals can be tedious, while the exposure to error exists as well. The other way of combating these entry dilemmas is to create and run Recurring Transactions.

December 16, 2015

Uploading Journal Transactions in Acumatica Cloud ERP

Most of us have experienced the pain and agony of having to hand-key a very large, multiple line journal entry. You add G/L account number after G/L account number, debit after debit, and credit after credit. You get to the end of the very long journal entry press the save button only to find that your very long, multiple line journal entry is out of balance. So you start your quest. You go line by line comparing the numbers you keyed against your source documentation to ensure that all of the numbers have been entered correctly. If you’re lucky, you’ll find the data entry error in time so that the last thing left to eat in the cafeteria for lunch isn’t a cold grilled cheese sandwich.

November 6, 2015

Uploading Customers into Acumatica ERP

One of the most difficult decisions that has to be made during a new system implementation is how much and what kind of data to migrate from your old system to the new. How many years do we bring over? Do we bring over detailed or summarized data? Is it reconciled? We will have access to old system for historical reporting purposes? These are all questions that are posed and answers that are debated during the process of making the decision.

There are, however, a few data decisions where there can be no debate. You have to bring over your Chart of Accounts. You may choose to take the opportunity to restructure your Chart of Accounts or to get rid of inactive accounts but you have to have your Chart of Accounts. The other data requirements are your Employees, Vendors and Customers. There still remains the option of do you add these records via manual entry or do you upload them. Using the manual entry method can provide the opportunity for training, since in the future, you will be adding these types of records one or just a few at a time.

September 15, 2015

How to create and restore a snapshot of an existing company database in Acumatica.

First you have to create the new company. To create the new company, navigate to System>Management>Manage>Companies

Click the + sign to add the new company, the system will generate a new Company ID

In the Login Name field type the name of the new company

August 21, 2015

Uploading Vendors into Acumatica ERP

One of the most difficult decisions that has to be made during a new system implementation is how much and what kind of data to migrate from your old system to the new. How many years do we bring over? Do we bring over detailed or summarized data? Is it reconciled? Will we have access to old system for historical reporting purposes? These are all questions that are posed and answers that are debated during the process of making the decision.

June 26, 2015

Uploading Fixed Assets into Acumatica ERP

In previous blog posts, we have learned how two ways to get fixed asset purchases into Acumatica ERP. The first was entering them manually and the other was to create the fixed asset records from purchases. Both of these methods work and are extremely efficient when entering a few fixed assets. In some situations, your company may purchase many fixed assets at the same time which would make manual entry a long laborious process. Using the built in function of Integration Services in Acumatica ERP, one can quickly create a routine that will import multiple fixed assets into the system using data from an Excel spreadsheet.

May 22, 2015

Disposal of a Fixed Asset in Acumatica Cloud ERP

There are usually two cases in which you would write-off an asset from your accounting books. As I’m sure we have all experienced, hard drives crash and laptops and desktop computers become more useful as paperweights than office equipment. In this instance, the asset is donated or placed in the “circular file” for disposal with no resale market value. This is probably the most common scenario. To remove the asset from your accounting records, you would normally have to create an adjusting journal entry that removes the accumulated depreciation and the original acquisition cost. If the asset is fully depreciated, then the entry is fairly straightforward.

April 14, 2015

Converting Purchases to Fixed Assets in Acumatica Cloud ERP

Acumatica Cloud ERP is one of the many ERP (enterprise resource planning) systems that contain a fixed asset module as part of the application. Having an integrated fixed asset module automates the management of a company’s fixed assets. The automation of this allows an organization to dump their convoluted Microsoft Excel Spreadsheet or Microsoft Access Database for managing the fixed asset process. Using a spreadsheet or database to manage your fixed still leaves you with making journal entries to record monthly depreciation expense and disposal of assets when they are sold or retired. You are also subject to errors during data entry not only of the journal entry itself, but also of the initial setup of the asset in the spreadsheet or database.

April 6, 2015

Entering a Fixed Asset in Acumatica

Merriam-Webster’s dictionary defines a Fixed Asset as a “tangible object of a permanent or long-term nature. Businesses of all sizes purchase and maintain equipment, computers, machinery, furniture, tools and other items to assist in running their enterprise. Tracking the cost, current value and the depreciation expense of these items is a vital exercise of the accounting department of a business. The accurate accounting of assets is important for annual overall profitability of the business and for accurate income tax calculation. Large organizations, as well as some smaller ones, will use some sort of fixed asset tracking software. Asset tracking software allows companies to track what assets they own, where they are located, how much they cost, the monthly or annual depreciation expense and their current value.

February 12, 2015

Where is Everyone Going?

Do you commute to work? Do you sit in traffic during that commute? Do you sit in an unreasonable amount of traffic? Do you feel your time can be better spent being more productive? If so I’m with you. Anyone else feel it’s crazy to pay $13.50 to go 10 miles slightly faster and then still have to sit in a jam after those 10 miles?

This is life in the DC area and it can easily be that same case for any major metropolitan city. I have heard comedians make the joke that to get ride of all the traffic, if only the people going north could change jobs or homes with the people going south everything would be fine (it goes something like that). Traffic is a plague to the issues like fossil fuels and ozone. There is a 21^st century solution to all these problems; work remotely.

October 29, 2014