Here are more financial features of Epicor ERP
Get Shipment function in Invoice Entry and Generate Shipment Invoices enable you to do the same task with some differences. Particularly, you can use the latter process to generate shipment invoices for products or services. It allows you to create invoices directly from packing slips. Furthermore, you can set it up to run at regular intervals.
Path to this feature from the main menu:
- Go to Financial Management > Accounts Receivable > General Operations.
Open Generate Shipment Invoices.
Use the Locate Invoice Group option to quickly find a group that
includes a specific invoice. This option locates the group number; you
can then enter this group number on the Group sheet to display all invoices within the entry group.
Path to the Locate Invoice Group:
- Go to Financial Management > Accounts Payable >
General Operations > Invoice Entry.
- Select Locate Invoice Group from the Actions menu.
Advanced Allocations enhance and simplify the process of creating, calculating, and processing allocations and accruals. This functionality distributes specific amounts posted to the general ledger across various receiving, or target accounts. You can set up as simple or as complex an allocation structure as you need. By specifically defining the calculating and processing of allocations, you save time and ensure allocations are consistently dispersed across your selected target accounts.
What else can you do with this ERP financial management solution?
To begin with, you can use the Allocation Code Maintenance to create allocation codes and specify settings for each of them. For the creation of each code, you also need to stipulate the source.
Here are the available sources:
- Journal Codes
- GL Account Masks, and
- Account Segment Ranges.
Then each account (or the GL transaction affecting each account) will be allocated based on your selection criteria.
It is necessary to set down a list of target accounts and their ratios defining the proportion to divide for each allocation code. Furthermore, you can create a fixed value or a formula containing the arithmetic operators and operands necessary for completion of the expression. Such a formula then can help determine if each allocation code disperses amounts.
The available operands are fixed values, balances of specific GL accounts, non- financial data, and summary balances generated across several GL accounts.
You can define the groups, or batches, of allocations that need to run simultaneously or sequentially by using Allocation Batch Entry. After creating the batches, you set up a schedule to define the fiscal year for these allocations.
In addition, you can configure the allocation process which allows automatic regeneration of a batch. Particularly, after creating a batch and assigning allocation codes to it, select Generate Schedule from the Actions menu to specify its fiscal periods.
You can organize the allocation codes within each batch into different levels or tiers. Particularly, the preceding tier(s) generate journal details for their successor(s). Each tier processes one level of allocations. Furthermore, apart from the first tier, they follow the allocations of their predecessor(s). The process continues until all tiers have generated allocation amounts to the journals set up for each tier level.
After you group allocation codes into batches, use the Generate Allocations program to process the allocation amounts and post them to the general ledger.
However, you can first use the program in a simulation mode. In this mode, you calculate and save allocation transactions without affecting the general ledger. To do this, you must select the Simulation check box when running the Generate Allocations program.
Simulated results are saved separately from the general ledger. You can then verify the allocations in the Allocations History Tracker and make adjustments before you process the results against your actual data.
The Allocation History Tracker stores all allocation transaction information and provides references to the source data. Particularly, you can view the information on allocations with dates and user IDs.
Source: Clients First
financial features of epicor erp