Tag - epicor 10.2.400

erp financial management software

More Financial Features of Epicor ERP

To see the first part of unpopular features of Epicor ERP Financial Management solution, please click here.

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:

  • Categories
  • 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

epicor erp financial features

Epicor ERP Financial Features

The Epicor ERP Financial Management consists of many financials features. In this issue, you can review those available but little popular in the Epicor 9.05 version.

epicor erp financial features

Epicor ERP Financial Management

Use Asset Mass Changes to issue mass changes to assets. Such changes include changing the depreciation parameters of an asset, asset group, or asset class. This update impacts only the values in the default register while leaving all other registers unaffected.

You can use filters to specify the target assets, asset group, or asset class. Furthermore, you can use replacements to select the target assets and, at the same time, assign values to those assets.

Path to this function from the main menu:

  • Go to Financial Management > Asset Management > Setup.
  • Then open Asset Mass Changes.

The Auto Retrieve Invoices in the AR/AP Invoice Entry programs helps you activate automatic retrieval of invoices for the current group. After the activation, recalculation takes place whenever a line is saved.

Path to this function:

  • Open Invoice Entry.
  • Select Auto Retrieve Invoices from the Actions menu.

You will see a check mark after enabling this feature.

The Balance Control feature in the General Ledger module enables you to use multiple balance control methods. Available methods consist of:

  1. Detail Balance – Maintains segment balances for use on reports and trackers.
  2. Summary Balance – Summarizes segment balances for use on reports and trackers.
  3. Opening Balance on P/L – Maintains year-end segment balances for expense and revenue accounts.

Additionally, you can configure specific accounts to maintain daily balances. Moreover, this feature displays balances through chart, summary, or detail views.

Balances are automatically reset at year-end. However, you can also share balances between periods on a Profit and Loss account. Last but not least, you can maintain a cumulative balance within this account.

Path to this feature from the main menu:

  • Go to Financial Management > General Ledger > Setup.
  • Open Chart of Accounts.

This Automatic Transaction Reversal helps you cancel a posted journal. Here are the typical situations when you need this feature:

When you preview a consolidation in an intermediate book, you may discover an error. Reverse the consolidation within the intermediate book before transferring the data to the target book. After you make the changes you need, run the Consolidate to Parent program to re-post.

If you have already consolidated to the target book, you can first reverse that consolidation. Next, do it again in the intermediate book (a user within the source company launches this reversal process). When the data is updated in the source company, it is again possible to rerun the consolidation.

In addition, you can reverse the most recently posted journals. After you make the necessary corrections, you can then re-post the journals. This prevents values from duplication within the posted results.

Available cancellation modes include:

Reverse Transaction – Posts debit amounts equal to credit amounts on the original journal and credit amounts equal to debit amounts on the original journal. In Russia, this mode is known as ordinary storno. For example, you estimate payroll as a $1000 credit to the payroll accrual. When reversed, a second entry is created as a $1000 debit to the same account.

Reverse as Red Storno – Posts transactions that contain reversing amounts. This type of journal contains a negative debit or credit line when the debit or credit line on the original journal increases the account balance. The journal contains a positive debit or credit line when the debit or credit line on the original entry decreases the account balance.

For example, a posted journal line debits an asset account. A red storno journal posts a negative debit line to the same account to cancel the increase from the original detail.

Path to this feature from the main menu:

  • Go to Financial Management > General Ledger > General Operations.
  • Open Automatic Transaction Reversal.

Batch Balances
You can use the GL Batch Balances Process to maintain the GL balance records in batch mode. This feature helps to improve performance in companies with a high volume of daily transactions and in companies which do not find it necessary to review GL transactions on a daily basis.

This process can run manually. Furthermore, you can also set the schedule to run it at various intervals. It is possible to indicate whether it should be a recurring process.

Path to Batch Balances from the main menu:

  • Go to Financial Management > General Ledger > General Operations.
  • Open GL Batch Balances.

You can use the Copy Invoice Lines option to adjust public error invoices. Particularly, you can add adjusting entries to a miscellaneous invoice, shipment invoice, or credit memo. To do this, select the lines, copy and paste them to the original invoice.

You can choose to create the adjusting line as a reversing entry. This can result in the creation of a zero- balance invoice. Adjustments only affect financial processes.
Adjustments have no effect on shipments or other processes connected with the original invoice.

Path to the Copy Invoice Lines:

  • Go to Financial Management > Accounts Receivable > General Operations > Invoice Entry
  • Select Copy Invoice Lines from the Actions menu.

The Currency Account option allows you to set up natural segments to hold balances in multiple currencies. If a company is generating currency transactions, they may need to manually add or adjust the GL in a non-book currency.

To do this, they need to set up the natural account as a currency account. After that, you can revalue the currency balances via the G/L Currency Revaluation process and use them in General Ledger reconciliation.

The Aging sheet available in the Customer Tracker program displays AR invoice aging information for a selected customer. It calculates the year to date totals on the current invoices that the customer has paid. Moreover, it lets you compare these amounts to last year’s totals.

Path to the Aging sheet:

  • Open the Customer Tracker.
  • Navigate to Financial > Invoices > Aging.

In addition, the Aging sheet is a very useful tool to view AR aging by customer in a dashboard view.

The Advanced Allocations distributes specific amounts available in the general ledger across various receiving, or target accounts. Through this feature set, you define a series of allocations, which first pull amounts from financial source data, and then spread these allocated amounts across multiple accounts.

Moreover, you can set up your allocation structure to be as simple or as complex as you need. The feature set includes creating allocation codes, generating allocations, and viewing the history.

You can use the General Ledger Import process to import data from other applications into Epicor. The file you import must be a comma delimited one (CSV) and follow the GL import file template.
After you submit the General Ledger Import process, the changes update the application. If you want to review imported data before it posts to the GL, do not select the Post check box. Then, the imported group is available to review and post within GL Journal Entry.

Path to this function from the main menu:

  • Go to Financial Management > General Ledger > General Operations.
  • Open General Ledger Import.

[to be continued]

Source: Clients First

highlights of Epicor 10.2.400

More Epicor 10.2.400 highlights

This post continues discussing the highlights in Epicor 10.2.400. (Here is the first part.) Especially, those related to Epicor ERP scheduling boards, mobile application, REST v2 OData v4 and Office Excel 365.

New Epicor Scheduling Boards

One highlight in Epicor 10.2.400 is the completely new design of scheduling boards. It enables you to easily detect overload problems and hanging conditions. You then can analyze schedule changes concerning cost and throughput before firmly committing them.

Epicor 10.2.400 highlights

erp scheduling

epicor 10.2.400 scheduling

So what are the specific Epicor 10.2.400 major features in these scheduling boards:

  • You can drag, drop or drilldown the schedule for multi-level assemblies and operation details.
  • The new timeline enables you to observe short-run operations, based on which you can analyze the long-run impacts of operations.
  • The view indicators, including late status and material availability, proactively send you notifications of potential problems in the schedule. Moreover, you can customize colors for your personal denotation. For example, you can categorize real, possible or delinquent load by task or operation.
  • You can flexible schedule and adjust the schedule for a single task and for the whole plant. In addition, you can lock tasks for key operations or define your priority and level capacity loads by resource/resource group.
  • In case of overload or needs of overload alleviation concerning resource/resource group, you can simply drag and drop load hours forward or backward.
  • These boards allow you to display each date and resource/resource group and access resource/resource-group as well as job scheduling information. As a result, you can check the causes of the problem and adjust the schedules.
  • The what-if (or potential/possible) mode also helps to analyze potential bottlenecks before you finish the actual schedule.

However, in case of preference of  the Classic Scheduling Board, you can easily find that option in the Menu. It is the button ‘Classic’.

Mobile application for time and expense

Some Epicor 10.2.400 major features include new time & expense mobile application. On the one hand, this function target at Requestors, whose job is to compose and send timesheet or expense reports for approval. On the other hand, its objective is to help Approvers to approve or reject timesheet or expense reports more easily.

Furthermore, this application is compatible with Apple iOS 11, 12 devices and Google Android 7.0, 8.0 ones.

REST v2 OData v4

The current upgrade in REST API is another Epicor 10.2.400 highlight. Its present version 2 takes advantage of the newest OData v.4. Thus, the way to specify the current Company as well as custom ERP-specific parameters in REST request URLs becomes friendlier. However, you need to review the changes properly when upgrading to version 2.

Here are the Maintenance Screens in Epicor 10.2.400:

  • API Key Maintenance
  • Access Scope Maintenance

Office Excel 365

Excel 2016 or higher versions are accessible now in Epicor 10.2.400.

epicor 10.2.400 excel 365

Epicor 10.2.400 highlights – to be continue

You can easily find a number of new features after upgrading your system to this new version. Though we cannot provide a full list at the moment, we are always here to listen and support you. Feel free to contact us here.


All photos and explanations belong to EpicHelp user hasokeric.

highlights of Epicor 10.2.400

Major features in Epicor 10.2.400

As Epicor Insights 2019 announces release 10.2.400, the version is now available in your Epicweb for download, and here are the major features:

  1. Automated Order Entry (DocStar)
  2. Connected Factory
  3. Lite MES (Kinetic)
  4. Scheduling Boards 2.0
  5. Mobile Time & Expense Mobile App
  6. Project WBS Phases Revenue Recognition
  7. OData 4.x REST v2

Automated Order Entry

epicor 10.2.400

Automated Order Entry (DocStar) enables you to create a sales order from an attachment in emails or a scanned image in Epicor. For instance, DocStar can scan a screen capture in Excel, PDF, .tif, Word Document, or other image files that contain a purchase order and then extract the relevant data. Then the data goes through a validation workflow. When it passes the requirements, Epicor will automatically create a sales order.

For further information on Sales Management, please click here

Connected Enterprise

features of epicor 10.2.400

new in epicor 10.2.400

Connected Enterprise is an Industrial Internet of Things (IIoT) platform for Epicor. With this feature, you can better view and track your different sites and machinery. Furthermore, it supports the Microsoft Azure IoT Hub platform.

For further information on IIoT, please click here

The list it monitors includes assets, equipment, inventory locations, as well as intelligent products.

new in Epicor 10.2.400

features of Epicor 10.2.400

updates of Epicor 10.2.400

One of the updates of Epicor 10.2.400 is the use of the Microsoft IoT hub. This hub collects data from sensors for its reporting and analytics. The MES shop floor home page then shows aggregated data and allows users to examine the performance of their equipment. Epicor users now can create rules to customize the display and set up alerts to inform them promptly the equipment status.

 

 

 

 

 

 

 

release of Epicor 10.2.400

You will need to install AzureRM and IoT Cloud Rule Processor PowerShell modules to process IoT rules in the cloud.

Lite MES – Kinetic

Kinetic Design system welcomed the world last year. Several updates in Epicor 10.2.400 based on this module includes, a new mobile, and time application. Particularly, Epicor has updated its mobile screens, e.g. Sales Order Entry and MES. The current design enables better and more popular use of Epicor on mobiles and tablets.

new in Epicor 10.2.400

features of Epicor 10.2.400

highlights of Epicor 10.2.400

updates of Epicor 10.2.400

Keep following us for further information on other functionalities of Epicor 10.2.400 in the coming week.

Source of opinions and photos on Highlights of Epicor 10.2.400: EpicHelp user hasokeric

Financial Management Software

epicor financial management softwareEpicor Financial Management software offers a refreshing new approach to business. It is a suite of accounting applications that are built for the highly regulated post-Sarbanes-Oxley Act world. This solution functions around a series of “global engines“ that support effective financial management and control everywhere.

The goal of this financial management solution is to help every enterprise from a single general ledger to the extended global enterprise. It gives you access to real–time fiscal information. Furthermore, the software provides a modern platform that supports business around the world.

Overall, Epicor financial management software facilitates financial structures that follow local government’s guideline in many countries, such as those in the picture.

Features of Epicor Financial Management Solution

The global engines that are the center of this software support the global nature of business today. Particularly, they enable effective operations in existing and new markets. Due to the business’s expansion through a combination of organic growth, mergers and acquisitions, it can become challenging to adapt to complex and demanding global financial and regulatory burdens.

Read more…

Accounts Receivable (AR) provides a comprehensive set of tools to manage your invoicing, credit, cash management, and customer management needs. Furthermore, you can specify the creation of invoices through the order release process. As a result, you can reduce billing for a different quantity. AR enables you to know who is buying what and who is paying their bills on time.

Read more…

General Ledger (GL) is the heart of Epicor financial management software. Particularly, it processes and posts all accounting transactions that Epicor applications create within the whole system and all entries made directly within the ledger. Though it appears to be the software of solely the accounting and tax departments, it does have impacts on the entire enterprise.

Read more…

Accounts Payable (AP) allows you to enter supplier invoices for purchases that you make. Then it creates payments for the invoices you want to pay. The system can generate payments for all invoices that are due. Furthermore, if a supplier calls you to discuss an invoice, you will have complete information at your fingertips. Also importantly, you can keep that history indefinitely.

Read more…

With Epicor Rebates module, you can then generate the rebate transactions. Lastly, this function lets you pay the rebate amounts to your customers through either an invoice check or a credit memo.

Read more…

Sales tax is a government’s regulation. It does not drive revenue. Nor does it reduce expenses. Thus, any time or money spent on tax compliance is, by nature, nonprofitable. Epicor Tax Connect eliminates the tedious work and complexity of determining sales tax jurisdictions of ship-to addresses, maintaining tax codes and rates, and dealing with jurisdiction-specific and commodity-specific taxation rules.

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This Cash Management function automatically handles and reports discounts available, payment due dates, and payment selection methods.

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Epicor Credit Card Processing is an optional global solution for managing credit card authorization and processing. Likewise, it integrates with industry-leading Credit Card Processing solutions. This functions help manage your corporate finances with a user-friendly cash flow dashboard.

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This multi-currency management automates the process of both buying and selling in foreign currencies. With tracking of default currencies as well as extensive exchange rate tables, an enterprise can reduce manual transactions. Furthermore, it can lock transactions in at a specified rate with automatic gain or loss reporting. Meanwhile, it can reduce the guesswork from handling foreign transactions.

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Companies are wrestling with the complexities of managing multiple business entities due to acquisitions or simply organic growths. With regard to such practice, Epicor Financial Management software can helps ensure control and reduce operational costs, and support inter-company supply chain management as well as financial consolidation. Additionally, multi-company enterprises may choose to not only report as individual entities but also consolidate multiple currencies and report across business entities to a single consolidation company.

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Epicor financial management software’s fixed asset management helps you record, track, and depreciate your fixed assets for optimal utilization.

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