Accolent ERP has embedded AWS Quick (“Quick”), which is AWS’ Agentic AI offering. Quick is an AI solution that offers chat agents, workflows and dashboards and visualizations using LLMs (Large Language Models) running in AWS Bedrock and called from a customer workspace. The customer workspace can access various data sources, such as your Accolent ERP […]
Category: Manage General Ledger
Importing GL Adjustments
Accolent ERP allows Standard GL Adjustments to be entered into a CSV and imported into the system. Once imported the GL Adjustment entries will be posted to the General Ledger. This import capability has particular applicability to GL Adjustments that are made each month (e.g., recording depreciation). The GL Adjustment import cannot be used for […]
Using Category GL Account Overrides
Accolent ERP Sales Journal GL postings typically use the standard GL Accounts specified on the Warehouse GL Defaults. Accolent ERP also allows product line GL Postings to be overridden by Category. In this case the GL Accounts used for postings of sales transactions and purchase order transactions will use the GL Accounts specified on the […]
Analyzing Financial Statement Lines
Accolent ERP allows users to drill down into any Balance Sheet or Income Statement (“Financial Statements) line to analyze the detailed transactions that comprise that line item. Each Financial Statement line item can consist of multiple Account Groups and each Account Group can contain multiple GL Accounts. Each GL Account in the system has a […]
Entering Other Deposits and Bank Charges
Accolent ERP allows users to enter Bank Deposits and Bank Charges. On the Bank Deposits and Bank Charges screens, the GL Account for Cash in Bank and the amount are defaulted respectively as a debit or credit. The user can select one or more offsetting GL Accounts to post too. Both screens work the same […]
Internal Bank Transfers
In Accolent ERP, each warehouse is a separate entity for financial statement purposes. So, in order to accommodate transfers from one warehouse to another, Accolent ERP uses a dummy Internal Bank Transfer account. A transfer of cash from one Bank Account to another specifies both the source Warehouse and Bank Account as well as the […]
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 […]
Understanding General Ledger Postings and Balances
Accolent ERP is built on a General Ledger (“GL”) which organizes all your financial reporting by GL Accounts. The GL Accounts are used to record all the transaction data that will appear in your financial reports. Each GL Account stores transaction data by Warehouse by Department by Month/Year and is reported on through the financial […]
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 […]
General Ledger Differences for Advantage Users
Accolent ERP works differently from Advantage in many areas. One of the main differences is that Accolent ERP’s General Ledger is completely GAAP-compliant and so has constraints that were not present in Advantage. Another major difference is that the General Ledger posts transactions in real-time immediately as they are completed, so there are no daily […]