f200 financials: intermediate - acumatica · company story 4 abc erp solutions and abc computer...

F200 Financials: IntermediateAcumatica ERP 4.2

Course Goals

2

1. Implement Acumatica ERP for financial accounting in two related companies.

You are going to set up the General Ledger, Cash Management, Accounts

Payable, and Accounts Receivable modules for these companies.

2. Migrate data from the previous system, including

trial balance, GL transactions, vendor and customer master records, open AP and AR documents.

3. Implement advanced processes, including

budgeting, bank reconciliation of cash accounts, tracking payments to 1099

vendors, managing customer prices and discounts.

Course Themes and Exercises - Day 1

3

1. Configuring Related Companies

2. Data Migration

3. Transactions Across Companies

Company Story

4

ABC ERP Solutions and ABC Computer Services are two related companies that

want to run on Acumatica ERP from 1/1/2014.

Configuring

Related

CompaniesTheme 1

Companies in Acumatica ERP

6

Companies (business entities) can be set up as independent tenants or branches

that share the system configuration within a single tenant.

Tenants represent independent companies or related companies that are usually

located in different countries and therefore use different base currencies, charts of

accounts, and fiscal year.

Technically, the user

selects the tenant when

they log in the Acumatica

ERP website. Multiple

tenants can run on a single

Acumatica ERP database.

Companies in Acumatica ERP

7

Branch is a logical entity within the

tenant. The user selects the branch after

they log in the website.

Branches represent physical locations of

one or multiple related companies, for

example, the company offices, which are

usually located in the same country.

With branches, you can prepare branch-

level and consolidated reports and

automate inter-branch transactions.

Related Companies as Branches

8

You decided to set up the ABC companies as branches. You can use branches if:

• Companies are related and they need individual as well as consolidated reports

• Companies use the same base currency

• Companies use the same fiscal year

• Companies have similar chart of accounts

• Companies may share the structure of subaccounts and business account IDs

If any condition is false, you have to set up the companies as individual tenants.

The Companies in Acumatica ERP

9

ABC is a tenant for two related companies, ABC ERP Solutions and ABC Computer Services.

Each company is represented by one or multiple branches within the tenant. The ABC ERP Solutions company is represented by the ABCERP branch. The ABC Computer Services is represented by the COMPEAST and COMPWEST branches.

Exercise 1: How to Configure a Company

10

1. Plan the branches

2. Plan the IDs

3. Configure the branches

4. Configure the subaccounts

5. Configure the ledgers

6. Configure the cash accounts

1.1: Plan the Branches

11

1. A branch for ABC ERP Solutions company

2. A branch for the Western LA location of the ABC Computer Services company

3. A branch for the Eastern LA location of the ABC Computer Services company

4. A consolidating branch for the ABC Computer Services company that is needed for consolidated 1099 reports and tax reports for this company

Course guide lesson 1.1 at page 12.

1.2: Plan the IDs

12

You realize that one 10-symbol segment is enough for all IDs:

• Branch IDs: ABCERP, COMPEAST, COMPWEST, ABCCOMP

• Vendor IDs like V000000001

• Customer IDs like C000000001

• Employee IDs are not used in this course


The Structure of IDs Is Defined in BIZACCT

13

Initial Configuration

14

The snapshot with the initial configuration is provided in the InitialConfigurationSnapshot_4_20_0935.zip.

The initial configuration includes the following settings:

• The ABCERP branch with its ledger is configured

• The chart of accounts is uploaded

• The financial periods of 2013 are activated

• The cash accounts of the ABCERP branch are created

• The GL, CA, AP, AR modules are configured and ready to use

• Non-stock items are added

The detailed initial configuration reference is at page 7 of the course guide.

Exercise 1.3: Configure the Branches

15

1. Enable the Multi-Branch Support feature.

Note. For educational purposes, you use Acumatica ERP with all features available under the trial license. For production,each particular feature might be a subject to additional licensing, please consult Acumatica ERP sales policy for details.

2. Create three branches: COMPWEST, COMPEAST, and ABCCOMP.

ABCERP has been preconfigured in the initial snapshot.


Before you begin the first exercise in the course, restore the provided

snapshot from the InitialConfigurationSnapshot_4_20_0935.zip file.

The Subaccount Structure

16

The companies want to report their expenses by department and their

revenue by the revenue source and sales region.

Exercise 1.4: Configure the Subaccounts

17

1. Enable the Subaccounts feature.

2. Configure the SUBACCOUNT segmented key and the segment values.

3. Update the subaccount for entry types and cash accounts.

4. Update the subaccount in General Ledger Preferences, Cash Management Preferences.

Course guide lesson 2 at page 14.

Reporting Requirements

18

1. ABC management wants to see each

company balance sheet and the overall

ABC balance sheet.

2. ABC Computer Services do not report

their assets and liabilities by company

office. They provide the total company

balance sheet.

3. Either company can process AP and

AR documents and payments shared

between the companies. Therefore, the

transactions should be balanced

across the company ledgers so that

they can prepare financial statements

by company.

4. Both companies report their profit and

loss by company office and total.

When the Transaction Should Be Balanced

19

ERP Solutions processes $1000 AP bill for

a purchase of furniture for two companies.

In the ERP Solutions ledger:

• AP a/c Cr, $1000;

• Fixed asset a/c Dr, $300.

• Due from Comp. Services a/c, Dr $700.

In the Computer Services ledger:

• Fixed asset a/c Dr, $700.

• Due to ERP Solutions a/c Cr, $700.

By company, total Dr is equal to total Cr

because of the balancing entries.

When the Transaction Isn’t Necessarily Balanced

20

Computer Services processes $1000 AP

bill for a purchase of furniture for two

offices.

In the Computer Services ledger:

• COMPEAST, AP a/c Cr, $1000;

• COMPEAST, Fixed asset a/c Dr, $300.

• COMPWEST, Fixed asset a/c, Dr $700.

By branch that is a company location,

total Dr is not necessary equal to total Cr.

Computer Services doesn’t need

balancing entries across the company

locations.

Which Ledgers Do You Need?

21

• If there is a company (legal entity) that consists of multiple

branches, like ABC Computer Services, you have to create

a separate actual ledger for this company and specify the

consolidating branch in this ledger to be able to prepare

company reports. The consolidating branch represents the

legal entity that reports to authorities.

• Companies that consist of a single branch, like ABC ERP

Solutions, can share one actual ledger.

The Company Ledgers With Inter-Branch Transactions

22

Exercise 1.5: Configure the Ledgers With the Account

Mapping

23

1. Enable the Inter-Branch Transactions feature.

Note. For educational purposes, you use Acumatica ERP with all features available under the trial license. For

production, each particular feature might be a subject to additional licensing, please consult Acumatica ERP sales

policy for details.

2. Create the ledger for transactions of the ABC Computer Services company.

3. Specify the ledger for COMPWEST and COMPEAST branches.

4. Define the inter-branch account mapping.


Exercise 1.6: Configure the Cash Accounts

24

1. Restrict visibility of 101000-ERP and 102000-ERP cash accounts to the ABCERP branch

so that the payments to and from this account can be processed with this branch only.

2. Configure the 101000-CMP and 102000-CMP cash accounts of the ABC Computer

Service company.

3. Allow the payment methods CASH and CHECK to use with the created cash accounts.

4. Add the auto-numbering of checks to be printed from the 102000-CMP cash account in

the Accounts Payable module.


Visibility of Cash Accounts

25

Take Test 1

26

Before you proceed further, answer the questions of Test 1:

Configuring Related Companies at Acumatica University.

Data MigrationTheme 2

Exercise 2: How to Migrate Data

28

1. Import the trial balance for ERP Solutions in each period of the 2013 year.

2. Import the GL transactions for Computer Services in 12-2013.

3. Import the vendor records.

4. Import the open AP documents (bills).

5. Import the customer records.

6. Import the open AR documents (invoices).

7. Import the outstanding checks and the deposit in transit for the 102000-ERP

cash account.

Exercise 2.1: Import the Trial Balance

29

1. Set the sign of the imported trial balance in GL preferences:

• Normal

𝐴𝑠𝑠𝑒𝑡𝑠 + 𝐸𝑥𝑝𝑒𝑛𝑠𝑒𝑠 = 𝐿𝑖𝑎𝑏𝑖𝑙𝑖𝑡𝑖𝑒𝑠 + 𝐼𝑛𝑐𝑜𝑚𝑒

• Reversed

𝐴𝑠𝑠𝑒𝑡𝑠 + 𝐸𝑥𝑝𝑒𝑛𝑠𝑒𝑠 + 𝐿𝑖𝑎𝑏𝑖𝑙𝑖𝑡𝑖𝑒𝑠 + 𝐼𝑛𝑐𝑜𝑚𝑒 = 0

2. Exclude the YTD Net Income account from import, if any.

3. Import the ABCERP trial balance for 01-2013 (normal).


Debit and Credit are Always Positive in a Batch

30

Exercise 2.1: Import the Trial Balance

31

1. Import the ABCERP trial balance for 01-2013 (normal).

NOTE. You have to release the batch before you import the trial balance for the next financial period.

2. Import the ABCERP trial balance for 02-2013 (reversed).

3. Verify the imported trial balance by the Trial Balance Detailed GL632500 report.

NOTE. If you make snapshots with intermediate results of data migration you can roll back the system to the previous successful state in case you got incorrect data at some step.


4. Restore the provided 2013TBImportedSnapshot_4_20_0935 snapshot that contains the imported trial balances for all periods of 2013 year.

Import of GL Transactions

32

For ABC Computer

Services, you decided to

import all transactions into a

single batch in the system.

Exercise 2.2: Import the GL Transactions

33

1. Review the import scenario for GL transactions (System > Integration >

Manage > Import Scenarios).

2. Import the COMPWEST GL transactions for 12-2013 (Process > Import by

Scenario).

3. Review and release the GL batch.

4. Review the Transactions for Period GL633000 report.


Import of Vendors

34

• You have prepared vendor IDs in the Excel file and you import the vendor records with these IDs.

• You want to continue auto-numeration of vendors starting from the last imported vendor ID.

• The vendor class provides the default values for the imported vendor records. In this course, those are the AP account, the cash discount account and subaccount, and the prepayment account of the vendor.

• The vendors are shared between companies and imported with empty default cash account.

• There is no need to import vendor balances, they are calculated automatically from AP documents.

Exercise 2.3: Import the Vendors

35

1. Create the DEFAULT vendor class and specify the DEFAULT vendor class in

the Accounts Payable module preferences.

2. Review the import scenario for vendors (System > Integration > Manage >

Import Scenarios).

3. Import the vendor records (Process > Import by Scenario).

4. Verify the vendor accounts. You should have imported 91 vendors.

5. Enable auto-numeration of vendor accounts starting from V000000092.

6. Create the Effective Advertisements, Inc vendor to check auto-numeration.

Course guide lesson 7 at page 30. See also the data verification recommendations in

Appendix B.

Import of Open AP Documents

36

• The documents lines are grouped into AP bills by VENDOR REF number from the Excel file.

• You import AP bills with new reference number automatically assigned by the system according to the APBILL numbering sequence.

• Auto-numeration of AP bills will continue from the reference number of the last imported AP bill.

• The original reference number (VENDOR REF) is imported into the Vendor Ref. field of the AP bill in the system.

Exercise 2.4: Import the Open AP Documents

37

1. Add the 999999 migration clearing account to the chart of accounts.

2. Clear the validation options in the Accounts Payable module preferences.

3. Review the import scenario for AP documents and the source file.

4. Select the ABCERP branch and import the AP bills and release the imported documents.

NOTE. Before release, we recommend that you make a random check of documents to make sure the document balances have been correctly imported.

5. Reverse the AP batch because you have already imported the correct balance of the AP account for 12-2013.

6. Compare the balance of the AP account for 12-2013 by AP Balance by GL Account AP632000 and Trial Balance Summary GL632000 reports.

Course guide lesson 8 at page 34. See also the data verification recommendations in Appendix B.

Import of Customers

38

• Customer accounts, as well as vendor accounts, must have unique IDs. You cannot use the

same ID for a vendor and a customer account; you have to use IDs like V0001 for vendors and

C0001 for customers, and you can extend a vendor account to a customer and vice versa.

• You have prepared customer IDs in the Excel file and you import the customer records with

these IDs.

• You want to continue auto-numeration of customers starting from the last imported customer ID.

• The customer class provides the default values for the imported customer records. In this

course, those are the AR account, the statement cycle ID, the sales account, and the cash

discount account.

• There is no need to import customer balances, they are calculated automatically from AR

documents.

Exercise 2.5: Import the Customers

39

1. Create the DEFAULT customer class and specify the DEFAULT customer class in the Accounts Receivable module preferences.

2. Review the import scenario for customers.

3. Import the customer records.

4. Verify the customer accounts. You should have imported 90 customers.

5. Enable auto-numeration of customer accounts starting from C000000091.

6. Create the Cognitive Solutions Co customer to check auto-numeration.


Import of Open AR Documents

40

• The document lines are grouped into AR invoices by

INVOICE REF NBR from the Excel file.

• You import open AR invoices with their reference number

from the previous system (INVOICE REF NBR).

• Auto-numeration of AR documents will continue from the

last imported invoice number.

Exercise 2.6: Import the Open AR Documents

41

1. Turn off auto-numeration of AR invoices by selecting Manual Numbering in ARINVOICE num. seq.

2. Clear the validation options in the Accounts Receivable module preferences.

3. Review the import scenario for AR documents and the source file.

4. Select the ABCERP branch and import the AR invoices and release the documents.

5. Reverse the AR batch because you have already imported the correct balance of the AR account for 12-2013.

6. Compare the balance of the AR account for 12-2013 by AR Balance by GL Account AR632000 and Trial Balance Summary GL632000 reports.

7. Enable auto-numeration of new invoices starting from INV000045 (add a new subsequence).

8. Create and release $100 invoice for C000000001 with the 1/1/2014 date to check auto-numeration.

9. Deactivate the 999999 migration clearing account because you no longer need this account.


Data Import Troubleshooting

42

1. Before import, make a snapshot to be able to rollback if

something goes wrong during the import. It doesn’t cost

anything but dramatically saves your time.

2. If something goes wrong, verify the reference number of

the imported document.

1. If the reference number differs from the expected one, check

whether you use auto-numeration of the documents.

2. If the system cannot import the document, check whether you are

trying to import duplicate reference numbers.

Import of Outstanding Checks and Deposits in

Transit for the Cash Account

43

On 12/31/2013, the statement balance of the ERP Solutions bank account

is $123,800 while the reconciled cash account balance is $123,000 on

that date.

Exercise 2.7: Import the Outstanding Checks and

Deposits in Transit

44

1. Create and release the batch with transactions for the outstanding checks and the deposit in transit in the ERP Solutions checking account (Journal Transactions GL301000).

2. Enable the bank reconciliation for the 102000-ERP cash account in the system (Cash Accounts CA202000).

3. Create and release the 12/31/2013 reconciliation statement for the cash account (Cash Management > Work Area > Enter > Reconciliation Statements).

4. Review the transactions in the 102000-ERP cash account by using the Cash Account Transactions CA303000 form for the 12/1/2013 – 12/31/2013 period.


Take Test 2

45


Data Migration at Acumatica University.

Transactions

Across

CompaniesTheme 3

How to Recognize the Company Structure from Configuration

47

• Review features: Multi-Branch Support, Inter-Branch Transactions (Enable/Disable Features CS100000)

• Review the posting ledgers of branches (Inter-branch Account Mapping GL101010)

• Review the account mapping for inter-branch transactions, if any (Inter-branch Account Mapping GL101010)

• Review the structure of actual ledgers (Ledgers GL201500)

• Review the details of branches (Branches CS102000)

After that, you can analyze the company structure and the transactions that can be processed between the companies and branches.

The Structure of the Companies and Their Ledgers

48

Exercise 3: Transactions Within a Company and Across

Companies

49

1. Process the $300 AP bill and payment for the bill within the same company, Computer Services.

2. Process the $2400 AP bill for expenses incurred by two companies. Computer Services processes the bill.

3. Process the $2400 payment for the bill. ERP Solutions pays the bill.

4. Process the $3900 AR invoice for services delivered by two companies. ERP Solutions issues the invoice.

5. Process the $3900 payment for the invoice. Computer Services receives the payment.

6. Transfer $3000 from Computer Services to ERP Solutions.

7. Review the trial balance and the financial statements.

Exercise 3.1: Process the AP Bill Within the Company

50

Computer Services processes the $300 AP bill from Repair master on 1/10/2014:

o COMPWEST, 200000 – Accounts Payable, Cr $300 (originating branch)

o COMPWEST, 780000 – Repair & Maintenance Expense, Dr $100 (destination branch)

o COMPEAST, 780000 – Repair & Maintenance Expense, Dr $200 (destination branch)


Exercise 3.1: Process the AP Payment Within the

Company

51

Computer Services pays the $300 bill on 1/20/2014:

o COMPWEST, 102000 – Regular Checking a/c, Cr $300

o COMPWEST, 200000 – Accounts Payable, Dr $300


Exercise 3.2: Process the AP Bill Across Companies

52

On 1/12/2014, the Western LA office of Computer Services processes the $2400 utility bill for expenses incurred by two companies:

o COMPWEST, 200000 – Accounts Payable, Cr $2400

o COMPWEST, 745000 – Utilities Expense, Dr $800

o COMPEAST, 745000 – Utilities Expense, Dr $700

o ABCERP, 745000 – Utilities Expense, Dr $900

o COMPWEST, 110010 – Due from ERP Solutions, Dr $900

o ABCERP, 200011 – Due to Computer Services, Cr $900

The balancing entries are automatically added to the batch so that the total debit is equal to total credit by company.


The Balancing Entries in a Transaction

53

The system adds the

balancing entries to the

batch during the

posting process.

Exercise 3.3: Process the AP Payment Across Companies

54

ERP Solutions pays $2400 utility bill by check from the 102000-

ERP cash account on 1/20/2014:

o ABCERP, 102000 – Regular Checking Account, Cr $2400

o COMPWEST, 200000 – Accounts Payable, Dr $2400

o ABCERP, 110011 – Due from Computer Services, Dr $2400

o COMPWEST, 200010 – Due to ERP Solutions, Cr $2400


Exercise 3.4: Process the AR Invoice Across Companies

55

On 1/20/2014, ERP Solutions issues $3900 AR invoice for services

delivered by two companies:

o ABCERP, 110000 – Accounts Receivable, Dr $3900

o ABCERP, 403000 – Sales – Consulting Services, Cr $3000

o COMPWEST, 403000 – Sales – Consulting Services, Cr $900

o ABCERP, 110011 – Due from Computer Services, Cr $900

o COMPWEST, 200010 – Due to ERP Solutions, Dr $900


Exercise 3.5: Process the AR Payment Across Companies

56

On 1/30/2014, Computer Services receives the $3900 payment for

all services from the customer:

o COMPWEST, 102000 – Regular Checking Account, Dr $3900

o ABCERP, 110000 – Accounts Receivable, Cr $3900

o COMPWEST, 110010 – Due from ERP Solutions, Cr $3900

o ABCERP, 200011 – Due to Computer Services, Dr $3900


Exercise 3.6: Process the Fund Transfer Across Companies

57

On 1/31/2014, Computer Services transfers $3000 to ERP

Solutions:

o COMPWEST, 102000 – Regular Checking account, Cr $3000

o ABCERP, 102000 – Regular Checking account, Dr $3000

o COMPWEST, 110010 – Due from ERP Solutions, Dr $3000

o ABCERP, 200011 – Due to Computer Services, Cr $3000


The Configuration Meets the Reporting Requirements

58

1. ABC management wants to see each

company balance sheet and the overall

ABC balance sheet.

2. ABC Computer Services do not report

their assets and liabilities by company

office. They provide the total company

balance sheet.

3. Either company can process AP and

AR documents and payments shared

between the companies. Therefore, the

transactions should be balanced

across the company ledgers so that

they can prepare financial statements

by company.

4. Both companies report their profit and

loss by company office and total.

Exercise 3.7: Review the Consolidated Reports

59

• The trial balance by brancho Trial Balance Summary GL632000

o Trial Balance Detailed GL632500

• The trial balance by companyo Trial Balance Summary GL632000 (for Computer Services - with empty branch)

• The profit and loss statement by companyo Profit & Loss GL635000

• The balance sheet by companyo Balance Sheet GL634000


Take Test 3

60


Transactions Across Companies at Acumatica University.

End of Day 1

61


62

4. Classification of Income and Expenses by Subaccount

5. Budgets

6. Allocations in General Ledger

7. Bank Deposits

8. Unrecognized Payments and Payment Reclassification

9. Import of Bank Statements

10. Bank Reconciliation

Income & Expense

Classification by

SubaccountTheme 4

Exercise 4: How to Configure and Use

Subaccounts1. Enable the Subaccount feature of the system.

2. Define the subaccount structure in the SUBACCOUNT segmented key.

3. In the SUBACCOUNT segmented key, select the entry mode – that is, on-the-fly entry of combinations or strict selection of the entire subaccount from the predefined list.

NOTE. When you enter a subaccount, you can press F3 to bring up the list of the allowed values.

4. If you use multiple combinations, you can enable automatically combined subaccounts for AP and AR documents to speed up data entry and reduce possible errors.

Combined Subaccounts

65

• Automatically combined subaccounts in document lines help users to enter Accounts Payable and Accounts Receivable documents.

• Wildcards in the combined subaccount mask denote the segment sources:o I – non-stock item (or stock item, if you use inventory)

o L – vendor location or customer location (by default, from MAIN that corresponds to the vendor account or customer account)

o C – branch

o W – warehouse (if you use inventory)

o E – employee

o S – salesperson

o P – project (if you use project accounting)

Exercise 4.1: Configure the Combined Subaccount Masks

66

1. Set the combined expense subaccount mask to III-II-LL in Accounts Payable Preferences.

For an AP document line, the III-II-LL combined expense subaccount mask means “The first two segments come from the non-stock itemand the last one comes from the vendor account, if any.”

2. Set the combined sales subaccount mask to III-II-LL in Accounts Receivable Preferences.

For an AR document line, the III-II-LL combined sales subaccount mask means “The first two segments come from the non-stock item and the last one comes from the customer account, if any.”

Course guide lesson 2.7, 2.8 at page 15.

Exercise 4.2: Process the GL Transaction with

Classification of Expenses

67

Enter and post the transaction of salary payment to employees of the administration and consulting departments of ABC Computer Services in two offices for 01-2014 (01/31/2014):


Exercise 4.3: Process the AP Bill with

Classification of Expenses

68

1. For the Effective Advertisements, Inc vendor set the Expense Sub. to 000-00-

00.

2. For the ADVERT non-stock item, set the Expense Sub. to SAL-00-00.

3. Select the ABCERP branch and enter the advertisement bill from the vendor

to be posted to 01-2014 (1/10/2014):


Exercise 4.4: Process the AR Invoice with

Classification of Income

69

1. For the SUPPORT non-stock item, set the Sales Sub. to 000-SU-00.

2. For the CONSULT non-stock item, set the Sales Sub. to 000-CO-00.

3. For the YY Studio customer, set the Sales Sub. to 000-00-CA.

4. Select the ABCERP branch and create an invoice to YYStudio for the support

and consulting services delivered in 01-2014 (1/20/2014):


Exercise 4: Review the Reports by Subaccounts

70

• Trial Balance Detailed GL632500

• Account by Subaccount GL403000

• Profit & Loss statements (you have to customize the

analytical reports for breakdown by subaccounts)

Take Test 4

71


Subaccounts at Acumatica University.

BudgetsTheme 5

Budgets

73

You want to prepare annual budgets of the companies:

• For ERP Solutions, you will prepare the budget for 2014

from the history of general ledger transactions in 2013.

• For Computer Services, you will upload the earlier

calculated budget for 2014 from the Excel file.

Exercise 5: How to Prepare a Budget

74

1. Configure the budget tree.

2. Create the budget ledger.

3. Prepare the budget:

1. Create the budget and specify the budget amounts for

articles.

2. Release the budget articles.

4. Review the profit & loss budget comparative report.

Budget Tree

• The budget tree makes it easier to prepare and analyze

budgets by using the Budgets GL302010 form.

• The budget tree defines all possible budget articles that can

be specified in a budget.

• The budget tree is the same for all branches.

Exercise 5.1: Configure the Budget Tree

76

1. Add the nodes to the root of the tree (General Ledger > Configuration > Manage > Budget Configuration).

2. To the root of the tree, add the leaf for the advertising expense budget.

3. To the root of the tree, add the leaf for the total office expense budget that aggregates the budget with two accounts 755000 – Office Supplies Expense and 758000 – Repair & Maintenance Expense.

4. Preload Salaries articles.

5. Preload Sales articles.

6. Add the aggregation mask to the Sales articles.


Account and Subaccount Mask

77

74????/000-TR-??740000/000-TR-00

740000/000-TR-CA

740000/000-TR-DC

…

741000/000-TR-00

…

740000/000-00-00

700000/000-TR-00

Wildcard ? means any symbol

at this position.

Budget Ledger

78

• Budget ledger keeps annual budgets by company branch.NOTE. You can have one budget for the entire company, or prepare the budget for each company location represented by the branch in the system.

• You have to create a budget ledger that corresponds to the actual ledger of the company.

• To be able to prepare two different budgets for the same branch and year, such as optimistic and pessimistic, you have to create the budget ledger for each budget type – that is, create two budget ledgers that correspond to the actual ledger of the company.

Exercise 5.2: Create the Budget Ledger

79

Create the budget ledgers for the optimistic budgets of the

companies:

1. ERPBUDGET – ABC ERP Solutions Optimistic Budget

2. CMPBUDGET – ABC Computer Services Optimistic

Budget


Exercise 5.3: Prepare the Budget for ERP

Solutions

80

1. Prepare the ERP Solutions optimistic budget for 2014 as the 10% increase in actual figures of the company for 2013 (General Ledger > Work Area > Enter > Budgets).

2. Compare the calculated budget with actual figures for 2013.

3. Release the budget.

4. Review the ERP Solutions budget by using the Profit & Loss –Comparative GL635500 report for 01-2014.


Exercise 5.3: Prepare the Budget for Computer

Services

81

1. Prepare the Computer Services optimistic budget for 2014 by uploading the calculated budget from the Excel file.


3. Update the Sales-Consulting budget amount to $220,000.

4. Distribute the amount by periods in the same proportions as it was in the released budget.

5. Add the bank charge expense article to the budget.

6. Distribute the bank charges budget by periods in even proportions.


8. Review the updated Computer Services budget by using the Profit & Loss –Comparative GL635500 report.

Allocations in

General LedgerTheme 6

Allocations in General Ledger

83

• You can distribute the amounts between branches, accounts, and subaccounts.NOTE. If you make allocations between branches, the system automatically adds the balancing entries to the allocation transactions, if needed.

• You can distribute the amounts in proportions of:o Fixed weights or percents

o Actual figures or budget figures

• You can automate allocations to repeat regularly.

Exercise 6: How to Make an Allocation

84

1. Create the allocation rule.

2. Run the allocation.

Exercise 6.1: Make the Allocation by Weight

85

1. For Computer Services, create the allocation rule to distribute the administrative people salaries between the COMPWEST and COMPEAST branches with the ratio of 3:1 (General Ledger > Work Area > Enter > Allocations).

2. Run the allocation process for 01-2014 (General Ledger > Processes > Recurring > Run Allocations).

3. Reverse the batch with the allocation transaction.


Allocation by Weight or Percent

86

𝑆𝑎𝑙𝑎𝑟𝑖𝑒𝑠 𝐸𝑥𝑝𝑒𝑛𝑠𝑒 𝑎𝑡 𝐶𝑂𝑀𝑃𝑊𝐸𝑆𝑇

𝑆𝑎𝑙𝑎𝑟𝑖𝑒𝑠 𝐸𝑥𝑝𝑒𝑛𝑠𝑒 𝑎𝑡 𝐶𝑂𝑀𝑃𝐸𝐴𝑆𝑇=3

1=75%

25%

If you use weights, the total amount is always taken as 100%.

If you use percents, make sure the total percent is 100%.

Exercise 6.2: Make Allocations by Account PTD

87

1. For Computer Services, redistribute the administrative people salaries

in proportions of the consultant salaries between COMPWEST and

COMPEAST. The allocation results in the ratio of 2:1.

2. For ERP Solutions, distribute the advertisement expenses by CO, CU,

SU, and TR revenue source codes in subaccounts in proportions of

the corresponding sales budget articles for 01-2014. The allocation

results in the ratio of 10:2:1:4 respectively.

Course guide lesson 20.2 and 20.3 at page 75.

Allocation by Account PTD or Account YTD

88

𝐴𝑑𝑣𝑒𝑟𝑡𝑖𝑠𝑖𝑛𝑔 𝐸𝑥𝑝𝑒𝑛𝑠𝑒 000 − 𝑇𝑅 − 00

𝐴𝑑𝑣𝑒𝑟𝑡𝑖𝑠𝑖𝑛𝑔 𝐸𝑥𝑝𝑒𝑛𝑠𝑒 000 − 𝐶𝑂 − 00𝐴𝑑𝑣𝑒𝑟𝑡𝑖𝑠𝑖𝑛𝑔 𝐸𝑥𝑝𝑒𝑛𝑠𝑒 000 − 𝐶𝑈 − 00𝐴𝑑𝑣𝑒𝑟𝑡𝑖𝑠𝑖𝑛𝑔 𝐸𝑥𝑝𝑒𝑛𝑠𝑒 000 − 𝑆𝑈 − 00

=𝑆𝑎𝑙𝑒𝑠 𝐵𝑢𝑑𝑔𝑒𝑡 000 − 𝑇𝑅−? ?

𝑆𝑎𝑙𝑒𝑠 𝐵𝑢𝑑𝑔𝑒𝑡 000 − 𝐶𝑂−? ?𝑆𝑎𝑙𝑒𝑠 𝐵𝑢𝑑𝑔𝑒𝑡 000 − 𝐶𝑈−? ?𝑆𝑎𝑙𝑒𝑠 𝐵𝑢𝑑𝑔𝑒𝑡 000 − 𝑆𝑈−? ?

o You can take the proportions from any ledger (actual, budget, statistical).

o By account PTD or account YTD, the allocation proportions are calculated from the base ledger.

o The amounts to be allocated are calculated from the source ledger.

o The allocated amounts are posted to the allocation ledger.

o The same ledger can be the base, the source, and the allocation ledger.

Aggregated Amounts in Allocation Rules

89

74????/000-TR-??

740000/000-TR-00

740000/000-TR-CA

740000/000-TR-DC

…

741000/000-TR-00

…

740000/000-00-00

700000/000-TR-00

• You can aggregate the amounts

on the source and base accounts

and subaccounts in the allocation

rules.

• The mask specifies the sum of

the amounts on the account-

subaccount pairs that match the

pattern.

Take Test 5

90


General Ledger at Acumatica University.

Bank DepositsTheme 7

91

Bank Deposits

The bank deposit transaction is easier to reconcile in the cash account with the bank

statement than multiple Accounts Receivable payment transactions in the account.

1. At first you process the AR payments to the clearing account (let’s say, $100 and $200

payments). The transactions on the payment release:

o Clearing account, Dr $100

o Accounts Receivable, Cr $100

o Clearing account, Dr $200


2. Then you process the bank deposit, which includes the AR payments, from the clearing

account to the needed cash account. The transactions on the bank deposit release:

o Cash account, Dr $300

o Clearing account, Cr $300

Deposits to the Bank Account

93

For easier reconciliation, the accountant of ERP Solutions

wants to process to the 102000-ERP cash account in the

system the deposits of customer payments, which they make

to the corresponding bank account.

Exercise 7: How to Process a Bank Deposit

1. Create a clearing account.

2. Configure the deposit destination account, usually the cash account that represents the bank account in the system.

3. Configure the payment method(s) to be able to use them with the clearing account.

4. Process AR payments to the clearing account.

5. Create the deposit to the destination cash account and release the deposit.

Exercise 7.1: Create the Clearing Account

95

1. Add the 102010 – Undeposited Payments asset account

to the chart of accounts.

2. Create the 102010-ERP cash account for the ABCERP

branch.

NOTE. You can use one clearing account for a group of cash accounts

in the same currency.


Exercise 7.2: Allow the Clearing Account for Use

with Payment Methods

96

1. Add the 102010-ERP clearing account to the Allowed

Cash Accounts tab of the CHECK payment method.

2. Add the 102010-ERP clearing account to the Allowed

Cash Accounts tab of the CASH payment method.


Exercise 7.3: Configure the Deposit Destination

Account

97

1. For the 102000-ERP cash account, add the 102010-ERP

clearing account on the Clearing Accounts tab.

2. Specify the 5% charge rate for deposited checks.

3. Specify the 3% charge rate for deposited cash.


Exercise 7.4: Process the AR Payments to the

Clearing Account

98

1. Dated to 1/1/2014, create and release the $2000 check payment from Jevy Computers to be deposited after 1/1/2014.

2. Dated to 1/15/2014, create and release the $1100 cash payment from Brass Key Bar to be deposited after 1/15/2014.

3. Dated to 1/15/2014, create and release the $3000 postdated check payment from $3000 from Silver Springs Water to be deposited after 1/31/2014.


Exercise 7.5: Create the Bank Deposit

99

1. Create the deposit to the 10200-ERP cash account with the 1/15/2014 date (Cash Management > Work Area > Enter > Bank Deposits) and document reference number 01152014.

2. Add the $1100 and $2000 AR payments to the deposit.

3. Add the $100 cash drop with the $3 charge amount.

4. Release the deposit.


Bank Deposit Transactions in the Cash Account

100

Review the transactions in the 102000-ERP cash account for

1/1/2014-1/31/2014.

Unrecognized

Payments and

Payment

ReclassificationTheme 8

101

Unrecognized Payments

102

You can process unrecognized AR and AP payments to a temporary account and reclassify them later when the customer or vendor information becomes available.

1. At first you process the unrecognized payment as a cash transaction to the temporary liability account (let’s say, $900 payment). The transaction on the payment release:

o Cash account, Dr $900

o Unrecognized payments account, Cr $900

2. Then you reclassify the payment (let’s say, it is a payment from a customer). The transaction on the release of the reclassified AR payment:

o Unrecognized payment account, Dr $900


The Unrecognized Transfer

103

From a bank statement for 1/15/2014, the accountant of ERP

Solutions discovered a Fedwire transfer-in of $900 received

to the 102000-ERP cash account on 1/13/2014.

There is no information about the sender of the payment.

Exercise 8: How to Process an Unrecognized

Payment and Reclassify It

104

1. Create a cash account to keep unrecognized payments.

2. Configure the payment methods to be able to create reclassified payment documents with these payment methods.

3. Create an entry type for the unrecognized payment transactions and allow the entry type for use with the cash accounts to which you can receive unknown payments.

4. Process the unrecognized payment as a cash transaction in the account to which you have received the payment.

5. When the information becomes available, reclassify the payment and release the generated document.

Exercise 8.1: Create the Cash Account for


105

1. Add the 210000 – Unrecognized Payments liability

account to the chart of accounts.

2. Create the 210000-ERP cash account.

NOTE. You can use one account to process unrecognized payments

for a group of cash accounts in the same currency.

Course guide lesson 22.1.A at page 84.

Exercise 8.2: Configure the Payment Methods for

the Unrecognized Payment Cash Account

106

1. For the 210000-ERP cash account, add the FEDWIRE

payment method on the Payment Methods tab.

2. On the Remittance Settings tab, specify the settings.

Course guide lesson 22.1.B at page 85.

Exercise 8.3: Create the Entry Type for


107

1. Create the UNRECPMT entry type with the Use for

Payments Reclassification check box selected and the

specified Reclassification Account 210000-ERP.

2. For the 102000-ERP cash account, add the UNRECPMT

entry type on the Allowed Entry Types tab.

Course guide lesson 22.1.C and 21.1.D at page 85.

Exercise 8.4: Process the Unrecognized Payment

108

Create and release the transaction of the $900 unrecognized

payment received on 1/13/2014 to the 102000-ERP cash

account with the 01132014Unrec document reference number

(Cash Management > Work Area > Enter > Transactions).


You Recognize the Transfer as the Customer

Payment

109

On 1/30/2014, the company gets to know that the payment is

from the Boulder Couriers Denver customer.

Exercise 8.5: Reclassify the Payment

110

1. Select the UNRECPMT entry type on the Reclassify

Payments form (Cash Management > Processes > Daily).

2. Select the $900 payment and specify the Boulder

customer information.

3. Run the reclassification process.

4. Review and release the generated AR payment.

5. Review the transactions in the 210000-ERP cash account.


Import of Bank

Statements and

Transaction

MatchingTheme 9

111

Import of Bank Statements and Transaction

Matching

• To make the bank reconciliation process easier, you can match the transactions in the system to the transactions in the bank statement.

• Once matched, the transactions get the Cleared status, and you can easily reconcile the cash account with the bank statement just by selection all cleared transactions in the reconciliation statement.

• To match the transactions, you have to import the bank statement into the system.

Import of Bank Statements

113

• From an Open Financial Exchange (OFX) fileo One statement for one cash account

o Multiple statements for one or multiple cash accounts

To import from OFX, you use the Bank Statements CA304500 form.

• From an Excel fileo One statement for one cash account (use the Bank Statements

CA304500 form)

o Multiple statements for one or multiple cash accounts (use the import scenario and not the Bank Statements CA304500 form)

The Bank Statement

114

The ERP Solutions company received the bank statement as

of 1/31/2014, and you want to reconcile the 102000-ERP

cash account balance with the statement.

To ease the reconciliation, you want to import the bank

statement received in the OFX file into the system and match

the transactions.

Exercise 9: How to Import a Bank Statement from

an OFX File and Match the Transactions

115

1. Configure the cash account for bank statement import.

2. In Cash Management preferences, specify whether you import the statements

for single or multiple cash accounts from one file.

3. Import the bank statement (Cash Management > Work Area > Enter > Bank

Statements).

4. Match the bank statement transactions with the transactions in the system.

5. Create the documents that have appeared in the bank statement but haven’t

yet been processed in the system.

6. Release the bank statement to set the Cleared status for the matched

transactions.

Exercise 9.1: Configure the Cash Account

116

1. Set the 001-204-00289-01 External Ref. Number for the

102000-ERP cash account (<ACCTID> from OFX).

2. Specify the OFXStatementReader import service for the

cash account.

3. Modify the description for convenient working with the

cash account to MyBank 001-204-00289-01 checking a/c

ERP Solutions.


Exercise 9.2: Specify the Import Preferences

117

To import the statement for one cash account, select the

Import Bank Statement to single Cash Account check box on

the Bank Statement Settings tab of the Cash Management

preferences.


Exercise 9.3: Import the Bank Statement

118

1. Select the 102000-ERP cash account (Cash Management

> Work Area > Enter > Bank Statements).

2. Specify the statement date 1/31/2014.

3. Upload the OFX file.

4. Specify the beginning balance in the statement, $123,800.


Exercise 9.4: Match the Transactions

119

1. Review the candidates.

2. Run auto-matching of transactions.

3. Review the matching results.

4. Match the other transactions that haven’t been

automatically matched (the outstanding checks from the

previous statement for $2300 and $7500 and the $9000

deposit).

Course guide lesson 23.4.A – 23.4.E at page 89.

Selection of Candidates

120

For each bank statement transaction, the system selects the matching candidates by criteria:

1. The amount and the sign of the transaction in the system are equal to the amount and the sign of the transaction in the bank statement.

2. The transaction date in the system is within the range specified in the Match Settings.

3. The match relevance rate is greater than zero.

Calculation of the Match Relevance Rate

121

The match relevance rate of a candidate is estimated by three factors:

• Ref. Nbr – the reference number, the check number or the transaction ID of the bank statement transaction; the document number or the payment reference number of the document in the system.

• Doc. Date – the date of the document or transaction.

• Doc. Payee – the name or the payee name of the bank statement transaction; the vendor name or the customer name of the document in the system.

You specify the factor weights in Match Settings.

Calculation of the Match Relevance Rate

122

R – the match relevance rate of a candidate transaction

R = w1 Ref. Nbr? + w2 ∗ r Doc. Date + w3 Payee? , where

wi– factor weights

r Doc. Date =fm,σ(x)

fm,σ(m)- additional weighting function, where fm,σ(x) =

1

σ 2πe−(x−m)2

2σ2

x – the number of days the bank statement transaction is later than expected m

m – payment clearing average delay, days

σ – estimated deviation, days

If the reference number or payment number of the transaction doesn’t match, the Ref.Nbr factor is

0. If the bank transaction payee doesn’t match the vendor or customer name of the transaction, the

Payee factor is 0.

Auto-Matching

123

The system searches for the match among the selected candidates:

1. If there is only one candidate, the transaction is auto-matched if the relevance rate >0.2.

2. If there are multiple candidates, the most relevant transaction is auto-matched if the relevance rate >0.75.

3. Otherwise, the transaction with the rate greater for more than 0.2 than the next candidate rate is auto-matched.

4. Otherwise, no transaction is auto-matched.

Exercise 9.5: Create the Missing Documents

124

1. To match the 010101 ref. number transaction from the statement, specify the information for AR payment: AR module and KammSystem France customer.

2. To match the 000000009 ref. number transaction from the statement, specify the information for cash transaction: CA module and BANKCHARGE entry type.

3. To match the 000000010 ref. number transaction from the statement, specify the information for cash transaction: CA module and INTEREST entry type.

4. Click Create All on the toolbar and review the generated documents.

Course guide lesson 23.4.F at page 92.

Exercise 9.6: Release the Bank Statement

125

1. Review the information on the Statement Balance tab.

2. Click Validate Matches to double-check the transactions that have been matched while they are having different reference numbers in the bank statement and in the system.

3. Release the bank statement.

During release, the system sets the Cleared status to the matched transactions.

Course guide lesson 23.4.G at page 94.

Bank

ReconciliationTheme 10

Exercise 10: Reconcile the Cash Account with the

Bank Statement

1. Create the second reconciliation statement for the

102000-ERP cash account for 1/31/2014 (Cash

Management > Work Area > Enter > Reconciliation

Statements).

2. Select the Reconciled check box for the transactions that

have the selected Cleared check box.

3. Make sure the cash account balance is reconciled and

release the reconciliation statement.Course guide lesson 24 at page 95.

End of Day 2

128


129

11. 1099 Vendors

12. Vendor Prices

13. Payments to Vendors from a Corporate Credit Card

14. Auto-Application of Customer Payments

15. Customer Prices

16. Customer Discounts

17. Customer Payments by Credit Card

Take Test 6

130


Cash Management at Acumatica University.

1099 VendorsTheme 11

131

Form 1099-MISC

132

In 2013, ERP Solutions paid $1000 to the Repair master

independent contractor but hasn’t filed Form 1099-MISC yet.

The accountant wants to import the YTD amount of 1099

payments to the vendor and file Form 1099-MISC for 2013.

Exercise 11: How to Process Payments to 1099

Vendors

133

1. Import the $1000 YTD payment made to the Repair master independent contractor in 2013 as a quick check and reverse the batch generated from the quick check.

2. Review the 1099 Year Summary and 1099 Year Details reports (Reports > Audit).

3. Specify the tax registration ID for the ERP Solutions company (in the ABCERP branch) and for the Repair master payee.

4. Close the 2013 year for 1099 payments (Accounts Payable > Processes > Closing > Close 1099 Year).

Additionally, for automatic insertion of a 1099 box into a document line depending on the selected expense account, you can associate the boxes with expense accounts in the Accounts Payable preferences.


Vendor PricesTheme 12

134

Vendor Prices

To speed up entry of AP documents, you can define vendor prices for non-stock items, and the prices will be automatically suggested in document lines.

You can define:

• Promotional prices that are effective for a period of time

• Non-promotional prices that come into effect starting from a certain date

• Quantity-dependent promotional and non-promotional prices

The Suggested Vendor Prices

The system always uses

this priority and never

selects the best

available vendor price.

Exercise 12: How to Configure and Use Vendor-

Specific Prices

137

1. You can configure and update vendor prices for non-stock items by using the Vendor Prices AP202000 form and the Vendor Prices tab on the Non-Stock Items IN202000 form.

2. To set the current price, specify the price as the pending price at first and then run the price update.

3. To define quantity-dependent prices, enable the Volume Pricing feature in the system.

The system suggests the vendor price in the Unit Cost column of an AP document detail.

Exercise 12.1: Configure and Use the Promotional

and Non-Promotional Prices

138

1. Configure the promotional and current price offered by the Advanced Concepts vendor for the consulting service (CONSULT non-stock item):o Promotional $95/hour from 1/1/2014 to 3/31/2014

o Non-promotional $100/hour from 4/1/2014

2. Select the CONSULT item in a bill for 1/1/2014 from the vendor and review the suggested price ($95 promotional).

3. Select the CONSULT item in a bill for 4/1/2014 from the vendor and review the suggested price ($100 current).

Course guide lesson 26.1 – 26.3 at page 101.

Once Defined, the Price is for Every Moment of

Time

139

Exercise 12.2: Configure and Use the Volume-

Depending Prices

140

1. Enable the Volume Pricing feature.

2. On the Vendor Prices AP202000 form, define the prices offered by Etelligent Solutions depending on quantity of service hours you purchase:

1. Select the CONSULT non-stock item in a bill from the vendor and review the suggested price:

o 1 hour - $110 unit cost

o 5 hours – $100 unit cost

o 12 hours - $90 unit costCourse guide lesson 26.4 at page 103.

Payments to

Vendors from a

Corporate Credit

Card Theme 13

141

Payments from a Corporate Credit CardYou can process the payments that you make from the corporate credit card and reconcile

the corporate credit card balance.

1. In a usual way, you process an AP bill that you are going to pay from the corporate

credit card (let’s say, $100).

2. When you pay by card, you process the AP payment to the accrued liability account:

o Accounts Payable Dr, $100

o Accrued liability a/c Cr, $100

3. When it’s time to pay the credit card, at first you process the AP bill to the accrued

liability account:

o Accounts Payable Cr, $100

o Accrued liability Dr, $100

4. Then, in a usual way, you process the AP payment for the bill from your cash account.

The Corporate Credit Card

143

The ERP Solutions company has a Visa corporate credit card

issued by MyBank. The company pays small amounts from

the card (for example, for books purchased for the company),

and wants to process and reconcile these payments in the

system.

Exercise 13.1: How to Process a Payment from the

Corporate Credit Card

144

1. Create an accrued liability account to keep the payments made from the corporate credit card.

2. Create the payment method for the corporate CC payments.

3. Create the vendor account that represents the card issuer bank and specify the accrued liability account as the expense account of the vendor.

4. In a usual way, process an AP bill that you are going to pay from the corporate credit card.

5. Process the AP payment for the bill with the accrued liability account and the corresponding payment method.


Exercise 13.2: How to Process the Payment for the

Credit Card and Reconcile the Credit Card Balance

145

1. Process the AP bill with the card issuer vendor and the accrued liability account.

2. Process the AP payment for the card from the cash account from which you pay the card.

3. Create the reconciliation statement for the accrued liability account and select the transactions that have appeared in the credit card statement.

4. Release the reconciliation statement. Course guide lesson 27.3 – 27.4 at page 106.

Take Test 7

146


Accounts Payable at Acumatica University.

Auto-Application

of Customer

PaymentsTheme 14

147

Auto-Application of Payments

• For newly-entered payments, you can use the auto-

application on payment release.

• Also, for open payments and credit memos, you can run the

auto-application process.

Exercise 14.1: How to Configure and Use the Auto-

Application on Payment Release

149

1. Select the Auto-Apply Payments check box for the

customer account.

2. Enter and release a payment from the customer.

The system will automatically apply the payment to open

documents of the customer, if any.

The payment applies to open invoices, debit memos, and

overdue charges starting from the oldest ones by their due

date.Course guide lesson 28.1 at page 110.

Exercise 14.2: How to Use the Auto-Application

Process

150

1. Select the statement cycle on the Auto-Apply Payments

AR506000 form (Accounts Receivable > Processes >

Recurring).

2. Run the auto-application process.

The system applies the payments to the outstanding

documents of customers that are assigned to the selected

statement cycle.


Customer PricesTheme 15

151

Customer Prices

152

You can define different levels of customer prices for non-stock items, and these prices will be automatically suggested in AR document lines.

At the customer, customer price class, and the base price levels,you can define:

• Promotional prices that are effective for a period of time

• Non-promotional prices that come into effect starting from a certain date

• Quantity-dependent promotional and non-promotional prices

The Suggested Customer Prices

The system always uses

this priority and never

selects the best

available price for the

customer.

Exercise 15: How to Configure and Use Customer

Prices

154

1. You can configure and update customer-specific prices by using the Customer Prices AR202020 form and the Customer Prices tab of the Non-Stock Items IN202000 form.

2. You can configure and update prices that are specific for a customer price class by using the Sales Prices AR202000 form and the Sales Prices tab of the Non-Stock Items IN202000 form.

3. To set the current price, specify the price as the pending price at first and then run the price update.

4. To define quantity-dependent prices, enable the Volume Pricing feature in the system.

The system suggests the customer price in the Unit Price column of an AR document detail.

Exercise 15.1: Configure and Use the Prices for

Customers and Customer Price Classes

155

1. Configure the price of the consulting service for the

Microchip customer, for the PARTNER customer price

class, and the BASE customer price class.

2. Create the invoices for customers and review the

suggested prices.

3. Analyze how the promotional price is suggested.

4. Analyze how the non-zero last price is suggested.


Customer

DiscountsTheme 16

156

Customer Discounts

• “3% discount on purchase of 5 and more hours of the consulting

service” – the line discount for the non-stock item

• “10% discount on purchase of 5 and more hours of the consulting

and training service” – the group discount for two non-stock items

• “20% discount for VIP partners” – the document discount for the

customer price class

• “Only in January, 30% promotional coupon for new partners” –

the promotional document discount for the customer price class

Customer Discounts

• Line discounts –

the best available

• Group discounts –

all applicable

• Document discounts –

the best available

Exercise 16: How to Configure and Use Customer

Discounts

159

1. Define the discount code (Accounts Receivable >

Configuration > Manage > Discount Codes).

2. Create the discount (Accounts Receivable > Work Area >

Manage > Discounts).

Exercise 16.1: Configure and Use Line Discounts

160

1. Configure 5% automatic line discount that the company

gives for 5 and more hours of the consulting or

customization service.

2. Configure 3% automatic line discount for customers of the

PARTNER customer price class.

3. Create invoices for customers and review the calculated

discounts.


Exercise 16.2: Configure and Use Document

Discounts

161

1. Configure the $10 automatic document discount that you give to the KRK customer for invoices of $1000 and more.

2. Create the invoice for the customer and review the calculated discounts.

3. Exclude the customer price class-dependent line discount and recalculate the discounts in the invoice.

4. Make the item-dependent line discount manual and recalculate the discounts in the invoice.


Exercise 16.2: Configure and Use Group Discounts

162

1. Configure the 5% automatic group discount that you give

for customers of the PARTNER customer price class if

they purchase 5 and more hours of the consulting and

customization service.

2. Create the invoice for the customer and review the

calculated discounts.

3. Make the automatic document discount always skipped in

the invoice if the group discount applies to the document.Course guide lesson 30.14 – 30.17 at page 118.

Customer

Payments by

Credit CardTheme 17

Customer Payments by Credit Card

Acumatica ERP supports

processing credit card

payments in PCI DSS

compliant mode through

the Authorize.Net

payment gateway.

Customer Payments by Credit Card

1. At first you process the AR payment to the cash account that

represents the merchant account in the system (let’s say, $100

payment):

o Merchant account Dr, $100

o Accounts Receivable Cr, $100

2. On a regular basis, you process the settlement as the deposit

from the merchant account to your bank account in the system:

o Merchant account Cr, $100

o Cash account Dr, $100

Credit Card Payments

166

Customers purchase services from ERP Solutions on a

regular basis and want to pay services by credit card. The

company has decided to accept credit card payments. To do

this, the company has set up the merchant account from

MyBank and purchased the payment gateway service from

Authorize.Net.

Exercise 17: How to Configure CC Processing and

Process AR Payments by Credit Card

167

1. Configure the cash account that represents the merchant account in the system as a

clearing account.

2. Configure the payment gateway connection as the processing center with the tokenized

mode.

3. Configure the payment method for credit cards.

4. Create the payment methods for customers from their credit cards.

5. Specify the integrated CC processing in the Accounts Receivable module preferences.

6. Authorize and capture CC payments and release the AR payments in the system.

7. On receiving of the merchant statement, process the bank deposit from the merchant

account to the checking account in the system.Course guide lesson 31 at page 121.

Take Test 8

168

Answer the questions of Test 8: Accounts Receivable at

Acumatica University to complete the course.

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