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 […]
Category: General Ledger
Budgets
Chart of Accounts
GL Ratio Report
Manage General Ledger
Financial Statement Set-Up
Manage Bank Accounts
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 […]
Accolent Payment Portal
The Accolent Payment Portal is a separate application linked to Accolent ERP. The Accolent Payment Portal allows Accolent ERP users to give their customers access to an online portal that shows each customer only its own open invoices aged from the date of the invoice. Once registered to use the Accolent Payment Portal, customers can […]
Using VAT Canada
Accolent ERP supports VAT for Canada (and other non-US jurisdictions). To use first go to the Configuration screen and enable VAT Canada, then setup the Canadian tax jurisdictions. Then set the voucher allocations on vendors to include the Provincial Sales Tax (PST) and the Canadian Goods & Services Tax (GST). Once done, all sales transactions […]
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 […]
Creating AR Payments from a CSV Import
Accolent ERP allows users to create a payment receipt by uploading a CSV file of payments made. This functionality is particularly useful for users that receive multiple payments from their customers in a single ACH or wire transfer. These payments are typically accompanied by a CSV remittance advice spreadsheet providing details of the invoices paid. […]
Importing/Entering GL Opening Balances
Prior to going live on Accolent ERP, you need to ensure that the Accolent ERP General Ledger balances and accounts are correctly initialized. This requires that you obtain the closing trial balances from your previous system and import these into Accolent ERP. There are several other settings that need to be properly entered. Closing Trial […]
Refunding a Customer in Cash
Accolent ERP allows for the refunding of Customer Credit Memos (or Unapplied Cash) rather than more typically applying these against an open Accounts Receivable balance. First create a Credit Memo then, once created, the Credit Memo may be refunded in cash, by check or to a credit card. Create Invoice and Credit Memo Create Invoice […]
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 […]
Accounting for Rentals
Accolent ERP includes comprehensive functionality for short-term equipment rentals. In accordance with FAS13 and US GAAP, Accolent ERP accounts for short term equipment rentals as operating leases in which the lessor retains legal and accounting ownership of the rental equipment. Rental items are treated as fixed assets on the lessor’s Balance Sheet and costs are […]