I know you probably love reading all the release notes for the new versions of Acumatica, but I’ll save you some time and give you the cliff notes. Here is a list and screen shot of the new financial features in Acumatica 2020 R1.
- Fixed Assets
Validate External Transactions Form
This form lists credit cards transactions with the Held for Review Status.
Saving Bank Transaction Matching Settings per Cash Account
When you update the Matching Settings for a Cash Account, it will now hold these values instead of resetting to the Matching Settings in Cash Management Preferences. Prior it was only keeping those values for the duration of a user’s session.
Check Register Inquiry
A new inquiry form has been added to find out whether a particular check number has been used.
Payment Application by Lines Not Allowed for Debit Adjustments
If a Debit Adjustment with Pay by Line exist in the system, they will be processed by using the logic that had been applied before the change when Upgrading to 2020 R1.
Aging Report Improvements
The Aging Date Parameter has been changed to not include any documents past the Aging Date for the AR Aged Past Due and AR Aged Past Due MC. It has also been renamed Age as of Date.
AR Aging Reports Have Been Renamed
The AR Aging Reports have been renamed as shown below.
- AR Aged Past Due is now AR Aging
- AR Aged Past Due MC is now AR Aging MC
- AR Aged Outstanding is now AR Coming Due
- AR Aged Outstanding MC is now AR Coming Due MC
Application of Payments to Particular Lines of AR Documents
You can now apply payments to Invoices by line.
Changes to the Payments and Applications Form
Acumatica has added columns for Line Number, Inventory ID, Project, Project Task and Cost Code to the Document Details tab of Payments and Applications Form. The Cost Code column is only available if the Cost Code feature is enabled.
Changes to the Release AR Retainage Form
Acumatica has added columns for Line Number, Inventory ID, Project, Project Task and Cost Code to the Release AR Retainage Form. The Cost Code column is only available if the Cost Code feature is enabled.
Pending Processing Status for Credit Card Payments
The Pending Processing status has been added for AR documents to indicate the document is ready for credit card processing.
Processing Status Added to Payments and Applications Form
The Processing Status has been added to the Payments and Applications form.
Processing Status Added to Cash Sales Form
The Processing Status has been added to the Cash Sales Form.
Release from Credit Hold for AR Invoices
You can now put AR Invoices on Credit Hold or Release them from Credit Hold on the Invoices and Memos form.
Changed Presentation Date of Customer Details Form
The Customer ID and Customer Name now appear in the Customer Details Form. This allows for you to be able to see which are Child Accounts better when Including Child Accounts and you have auto numbering set.
Code Improvements to the Straight-Line Depreciation Method
The Accelerated Depreciation for SL Depreciation Method is ignored when using the Full Period Averaging Convention is being used.
Inclusive Output Tax at the Document Level
You can create an AR Document in which the total inclusive tax will be extracted from the document amount, but not totaled from the taxes calculated for the document lines.
New Tax Preferences Form
Tax Preferences has been added to the Tax Workspace.
Changed Location of GL Accounts Tab on Taxes Form
The GL Accounts tab has been moved to the bottom part of the form.
Renaming of Forms in Fixed Asset Subledger
The following forms have been renamed.
- Book Calendars is now Book Calendar Setup
- Generate FA Calendars is now Generate Book Calendars
- Book Periods is now Book Calendars
We hope this blog provides you with enough insight on the new financial features in Acumatica 2020 R1. If you have questions please contact Crestwood Support at email@example.com.