Accolent ERP is integrated with Fiserv, one of the largest payment processors globally. As part of the Accolent ERP integration with Fiserv, payment transactions may be voided or refunded to the credit card that was originally charged. If the original charged transaction has not yet been settled, the refund request will direct the user to […]
Category: Receivables
Recording a Vendor Refund
Accolent ERP offers several ways in which a vendor refund may be recorded. If the refund is in the form of a Credit Memo, then create a negative voucher for the amount of the refund and select the negative voucher together with other positive vouchers to reduce the amount paid to the vendor in the […]
Using Split Billings for Invoices
Accolent ERP allows an Invoice to be split into multiple installments. This is referred to in Accolent ERP as “Split Billings.” Under GAAP this is an installment sale for which revenue recognition occurs as of the invoice date – on which the whole invoice is booked to the General Ledger as a sale. For the […]
Using Integrated Payments
Accolent ERP is integrated with Fiserv, one of the largest payment processors globally. By automatically processing Level 2 and Level 3 data, Fiserv optimizes interchange charges on credit card payments ensuring the lowest possible rate on every transaction. The Accolent ERP integrated payments allows for acceptance of payments through Fiserv for multiple payment methods: (i) […]
Accolent ERP/Fiserv Integrated Payments
Accolent ERP now offers integrated payment acceptance through Fiserv, one of the largest global payment processors, and one of FORTUNE Magazine World’s Most Admired Companies. Fiserv is an award-winning credit card payment integration for SMBs, large enterprises and everything in between. Fiserv processes more than $26 billion in transactions each year for more than 195,000 […]
Deleting Bank Deposits
Accolent ERP allows Bank Deposits to be deleted, if required. When a Bank Deposit is deleted, the system will first automatically unpost this from the GL before deleting it. Deletion of the Bank Deposit will automatically release all the payments on the Bank Deposit back to status of Ready for Deposit. Create Bank Deposit Go […]
AR & AP Differences for Advantage Users
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 […]
Creating Bank Deposits
Accolent ERP provides the ability to select one or more payment receipts with the status of “Ready for Deposit”, that can then be combined to create a Bank Deposit. The Bank Deposit can then be physically deposited to the selected Bank and will show up on the list of deposits for that Bank in Accolent […]
Using Standard Payment Terms (Non-Prox)
Accolent ERP supports the use of standard Payment Terms (Non-Prox) as well as Prox Terms. In general, Payment Terms will specify a discount date for early payment discounts and a due date both expressed in number of days from the Invoice Date. For example, 2% 10 Net 30 Days means an Invoice receives a 2% […]
Using Prox Terms
Accolent ERP supports the use of Prox terms. In general, Prox terms means that all invoices created in a particular month prior to a cutoff date are due on a specific day of the following month instead of within a number of days of invoicing. Often Prox terms also specify a discount if paid by […]