Accolent ERP works differently from Advantage in many areas. Two of these areas in which the Accolent ERP functionality differs from that of Advantage are in Accounts Receivable and Accounts Payable. There are several specific areas of difference to be aware of.
Important AR Differences
There are some important AR areas of difference between Advantage and Accolent ERP for users to be aware of and take into account:
Interest
- If set up to charge interest, Accolent ERP calculates interest from the due date of the Invoice, based on the Customer’s terms, and taking into account all payments made on the Invoice.
- The interest calculation is updated daily by the system and is shown on the AR Aging report as well as on Customer Statements.
- However, interest is not posted to the GL until the Invoice is paid and the AR item is closed.
- See this wiki: General Ledger Posting of Interest
Discounts
- Accolent ERP computes payment discounts based on the Customer’s terms.
- The discount calculation is updated daily by the system.
- To obtain an available discount, the Invoice must be paid in full within the terms.
- Discounts may be manually extended.
- See this wiki: Giving AR Payment Discounts
Write-Offs
- Accolent ERP allows entry of write-offs in connection with taking a payment on and closing an Accounts Receivable item.
- A write-off may not be taken on an AR item that remains open.
- See this wiki: Entering AR Write-Offs
Important AP Differences
There are some important AP areas of difference between Advantage and Accolent ERP for users to be aware of and take into account:
AP Discounts
- In Accolent ERP, Accounts Payable discounts are not entered on the Voucher as in Advantage.
- Instead, the discounts are computed based on the Vendor’s terms and are taken when the Check is printed to pay the Voucher.
- The discount is calculated daily by the system.
- Discounts may be manually extended and amended by modifying the check.
- See this wiki Taking Early AP Payment Discounts
Vendor GL Allocations
- In Accolent ERP, vendors need to be designated as “Inventory Vendors” meaning that goods for Inventory are purchased from these vendors.
- Then for each Vendor, enter default GL Allocations that will default in when a voucher is created.
- See this wiki: Entering Voucher Allocations
Review with Implementation Manager
- The assigned Implementation Manager will be available to guide Advantage users through all aspects of the transition to Accolent ERP.
- Advantage users converting to Accolent ERP are strongly encouraged to review these AR and AP changes in particular, with the Implementation Manger.
- Assuming everything works in Accolent ERP the same way as in Advantage, will create serious problems.