Accolent ERP provides powerful financial management tools and integrations
Accolent ERP Financial Management Software
The Accolent ERP financial management software system includes a comprehensive GAAP-compliant accounting system. In addition, the financial management software also provides financial tools for managing balance sheets, income statements and financial period closings, cash management, cost accounting, financial forecasting, budgeting and financial statement data analytics.
Accolent ERP Accounting System
The Accolent ERP accounting system is fully integrated with the Accolent ERP database. It automatically posts all ERP transactions in real-time to the GL (General Ledger) and tracks the financial impact of ongoing business operations including:
- Taking orders and then invoicing and billing customers
- Receiving returned goods and issuing credit memos
- Receiving payments for customers and customer deposits
- Placing and then receiving purchase orders
- Reconciling vendor invoices to PO Receipts and then paying vendors
- Updating inventory costing on every transaction
- Posting transactions to the GL
- Maintaining transaction histories and audit trails
Capabilities of Accolent ERP Financial Management Software
Accolent ERP Cloud-based software provides the full end-to-end functionality for wholesale distribution, light manufacturing, and service business, covering both core accounting and broader financial management software tools. The financial management software delivers the following capabilities:
- Full multi-entity, multi-department, GL Chart of Accounts
- Fully configurable Financial Statements
- Streamlined Financial Period Closings
- Real-time, auditable, GAAP-compliant, GL postings
- Default GL allocations allow for automated GL postings, with the ability for the user to override defaults with the right permissions
- Revenue and Expense recognition and tracking
- Complete Inventory costing and tracking
- Purchase Order receiving with Container Tracking and full Landed Costs
- Fixed Assets register and tracking
- Full Cash Management including Accounts Receivable, Accounts Payable and Bank Reconciliation
- Integrated payroll processing
- Fully integrated receipt of payments by Credit Card, ACH
- Integrated AP Automation and vendor payments
- Integrated Business Intelligence and Data Analytics capabilities for financial forecasting and financial planning and analysis
- GL Account-level budgeting
Financial Statements
Accolent ERP financial management software’s Chart of Accounts permits unlimited GL Accounts and allows user-defined financial statements by Warehouse by Department. Consolidate multiple GL Accounts into an Account Group and consolidate multiple Account Groups into Account Sub-Types. All Account Sub-Types have positional awareness based on standard GAAP financial statement reporting.
Financial Forecasting and Budgeting
For financial planning and analysis, the system allows the creation of detailed budgets by GL Account by Warehouse by Department. Accolent ERP is fully integrated with Phocas Software’s Business Intelligence and Data Analytics tools. With these tools, users can create demand planning forecasts and analyze performance against budgets. Users can also create rolling forecasts as needed to capture changing economic conditions.
Powerful Integrations
From taking payments by credit card or ACH, remotely or in-person, to creating AP Payment files and paying vendors, to integrated Business Intelligence, Data Analytics, Financial Statements and Budgeting, to online sales tax, to payroll processing, Accolent ERP financial management software maintains seamless API integrations with other industry-leading solutions. Together with these powerful integrations, Accolent ERP is complete financial management software.
Industries
Optimized for wholesale distribution across a number of vertical industries: auto parts, building materials, chemicals, fasteners, food & beverage, industrial, jan/san, restaurant supply and more
Accolent ERP Technology
There are good reasons that cloud-based ERP software is rapidly replacing on-premise business software. Learn why experts predict that 5 years from now on premise systems will be obsolete.
Implementation and Training
Let us show you how our comprehensive implementation and training programs will manage your transition and get you up and running on Accolent ERP quickly and painlessly.
Features of Accolent ERP Financial Management Software
- Comprehensive GAAP-Compliant Accounting System – Supports multi-entity, multi-department system with unlimited GL Accounts
- Financial Statements – Full flexibility to map GL accounts to financial statements to create multi-entity, multi-department financial statements. Create Balance Sheet groupings for Current Assets, PP&E, Fixed Assets, Other Assets, Intangible Assets, Current Liabilities, Other Current Liabilities, Long-Term Liabilities, Capital, Additional Paid-In Capital, Retained Earnings. Create Income Statement calculation lines for Gross Margin, EBITDA, EBIT, EBT, Operating Income, Net Income
- Comprehensive Cash Management – Full support for AR, AP and Bank Reconciliation and cash requirements planning
- Powerful Budgeting Capabilities – Create fiscal year budgets by GL Account and compare to actuals
- Integration with 3rd party payroll – Accolent ERP has linked with multiple Payroll Processors to take a single integrated GL posting for each aggregated payroll payment
- Integrated AR Payment Receipt Methods – Accolent ERP integrated payments takes credit card, ACH payments in-person or remotely
- Integrated AP Automation – Accolent ERP integrated AP Automation allows management of vendor payments to save time and money on AP processing
- Integrated BI and Data Analytics – Accolent ERP is integrated with Phocas Software a leading business intelligence and data analytics provider. Financial Statements and Budgeting fully supported in Phocas
- Multi-currency – Designate a functional currency and convert foreign currency transactions to functional currency when realized. Track Unrealized and Realized Forex Gains and Losses. Integrated forex API supporting daily forex rates for all international currencies
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