Tonight I finished going through the videos and completing the training exercises for the F130 Advanced Accounts Payable (V3.0) course. Now I just need to go through the F140 Advanced Cash Management (V4.0) and F300 Inter-Company Accounting (V3.0), then I can contact an instructor to review my work.
The F130 Advanced Accounts Payable (V3.0) course was pretty straightforward. Here are the topics that were covered:
- AP Recurring Transactions
- Just like on the Accounts Receivable side of things, you can make a Bill recurring according to a schedule.
- ACH Payment Process
- You can have Acumatica automatically generate an ACH file for electronic payments that you want to submit to your bank. I didn’t go through the details of how to set this up, but it looks to be very flexible, just like the AR Credit Card Processing feature.
- AP Payment Processing Using Credit Card
- You can setup a credit card vendor so that when you pay Bills with your credit card, the payable amounts automatically get transferred to the credit card vendor. Then you can reconcile your statement before processing a payment to the credit card vendor.
- Credit Terms
- Lots of options here. You can setup due dates and discounts according to Fixed Number of Days, Day of Next Month, End of Month, End of Next Month, Day of the Month, Fixed Number of Days starting Next Month, or Custom buckets. You can also setup installment options on the credit term to split a payment into customized amounts spread out over a time period.
- Vendor Payment Lead Time
- You can enter a payment lead time per vendor. This is the amount of time it takes a payment to reach that specific vendor. This will be included in the due date and discount date calculations to ensure that your vendors receive your payment on time.
- Vendor Discount Processing
- If you make a payment in time, the system can automatically record the discount for you.
- 1099 Vendors
- Pretty standard functionality here. The system can track 1099 payments made to vendors and print a 1099 report at the end of the year.