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Online Accounting Software for Distributors

Online Accounting Software for Distributors

Accolent ERP is a comprehensive online accounting software for distributors. Accolent ERP runs end-to-end in the AWS public Cloud and so is accessible from anywhere, at any time, on any device. Accolent ERP online accounting software is fully GAAP-compliant, with a full General Ledger Chart of Accounts, plus Accounts Receivable and Accounts Payable and full configurable financial statements.

  • Fully integrated General Ledger with multi-segment Chart of Accounts capability
  • Accepts any GL Account numbering scheme
  • User defined default GL Accounts for all postings but may be overridden by transaction
  • Ability to define default allocations between multiple GL Accounts that may be overridden by user
  • Immediate posting of accounting transactions to GL through Accounting Journals upon saving the transaction
  • GL Accounts mapped to Account Groups to Account Sub-Types to Account Types allows extremely flexible financial statement structure
  • Ability to generate financial statements by warehouse and department
  • Full drill-down capability for all financial statements to individual voucher or invoice levels
  • Detailed budgeting by General Ledger account, by department, and by warehouse
  • Support for multiple bank accounts
  • Running totals by bank account and reconciliation against bank statements
  • Extensive financial reports that can be run in detail or summary mode
  • All reports can be downloaded in a variety of formats (Excel, Word, PDF, HTML, etc.)
  • Permits transactions in foreign currencies for purchases from foreign vendors or sales to foreign customers
  • Transactions with foreign counterparties denominated in specified foreign currency and converted back into US dollars as the system’s functional currency
  • Tracks foreign currency gains and losses
  • Tracks realized and unrealized foreign currency gains and losses
  • Exchange rates can be manually entered or automatically updated
  • Specify tax Specify nexus for all tax jurisdictions based on applicable regulations
  • Specify whether freight and labor are taxable in each state
  • Specify whether tax by origin or tax by destination based on ship-to
  • Allow for taxable or non-taxable customers and products
  • Manually override any default sales taxability line-by-line on an order to account for products for sale vs for internal consumption
  • Create multiple sales tax reports by tax jurisdiction or split tax jurisdiction
  • Complete accounts receivable and payment detail functionality
  • Access to customers’ open and paid invoices with current 30/60/90/120 aging
  • Detailed aging report by terms
  • Ability to age Accounts Receivable as of a past date
  • Generate customer statements for one, all, or a group of customers and automatically deal with specified ship-to locations and bill-to locations
  • Ability to automatically send Customer Statements directly to default email addresses
  • Cashiering functions for over-the-counter sales
  • Flexible payment receipts capability to apply payment, accept and apply deposits and view customer ledger card
  • Report payments by payment type: Cash, Check, Credit Card type
  • Payment history by item if multiple payments are applied to an invoice
  • Payment listing with detail on how payments were allocated
  • Extensive sales and payment history summary screens
  • Ability to support complex payment date discount rules
  • Charge and book interest charges with flexibility as to how applied
  • Maintain customer collection comments
  • Write-off accounts receivable balances to multiple General Ledger accounts during payment receipt process
  • Customer accounts are automatically placed on Credit Hold when assigned credit limit is exceeded or if invoices are open beyond a preselected number of days – which can be different from the invoice due date
  • Manually assign customers to Credit Status that prohibits orders under user-defined conditions
  • Process orders for customers on Credit Hold with authorization
  • See warning message at beginning and end of order entry for accounts on Credit Hold
  • Seasonally adjust credit limits for groups of customers
  • Single screen centralizes management of overdue accounts
  • Accept payments by credit card, e-Check or ACH payments
  • Integrated with CardConnect®, a unit of Fiserve/FirstData one of the largest global payment processors
  • Ability to get best pricing by optimizing on interchange charges ensuring the lowest possible rates on every transaction
  • Accessible on any desktop, tablet or mobile device as well as virtual and plug and play retail terminals
  • Transactions secured using P2PE (point-to-point encryption) and tokenization, support EMV (Europay, MasterCard, Visa)
  • Provides maximum PCI compliance scope reduction and maximum data security to protect card data at rest and data in flight
  • Extensive reporting tools and e-Statements available
  • Vendor ledger card with full drill-down capabilities
  • Ability to set invoice payment priorities and check writing
  • Cash requirements report forecasts cash needed for cash discounts
  • Accounts payable aging:
    • by vendor payment priority
    • due date
    • by vendor
    • as of a past date
  • Validations enabling tie-out of vendor invoice to PO and PO Receipt totals
  • Ability to allocate a single voucher to one or multiple receiving transactions
  • Ability to process 1099 forms

Contact Us Today to Demo Accolent ERP Online Accounting Software

Arrange a demo of Accolent ERP software.

Let us show you how Accolent ERP online accounting software covers all the functionality needed to manage and report on your distribution business.

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