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Accounts Payable

Accounts Payable (AP) allows you to enter supplier invoices for purchases that you make, then create payments for the invoices you want to pay. The system can generate payments for all invoices due, those for a particular supplier, or only for specific invoices. If a supplier calls you to discuss an invoice, you will have complete information at your fingertips and that history can be kept indefinitely.

Accounts Payable allows you to update both purchase orders in Purchase Management as well as actual job costs. Adjustments are created if the purchase price does not match the invoiced price. With Accounts Payable, you will know how much you owe and when it is due.

Record and post all payables instruments easily, including supplier or vendor vouchers and invoices, debit memos, automated check runs, and manual payments.

Create standard accounts payable invoices that recur on set dates.

Record and track your future-dated payment instruments, including GL movements, and enter their values for credit. Accurately manage payment of invoice due dates and terms and conditions. control purposes. You can also change their status as you need. A final tax transaction moves the tax from accrued to due at the time of final settlement or cash movement.

Through this functionality, you print a future dated payment instrument as part of the invoice, so that you can send it to the customer to sign and return it, or include it as part of the customer statement if the customer pays on a monthly basis.

Epicor supports all of the most common business practice terms and conditions within Accounts Payable and Receivable. This feature also affords great flexibility for the definition of creative receipt and payment terms within countries where this functionality is not necessarily demanded but may offer a competitive advantage.

You can track or reuse voided or unused numbers or transactions that are not committed to a database. You are then accountable for all numbers and have no sequence gaps.

Print checks for select payments, or create manual checks.

Update jobs created in Job Management directly by material and subcontract costs entered through Accounts Payable.

Purchases may be made in any currency and goods received in any currency with support for the entry of an exchange rate at the point of payment entry.

Keep accounts payable transactions and supplier history files indefinitely.

Show online inquiries for open invoices, outstanding balances, and payment detail.

Automatically create and post general ledger entries from accounts payable transactions.

All payments are automatically available for bank statement reconciliation once posted.

View variances between planned and actual purchase price to allow cost adjustments and analysis.

Match invoice, receipt, and purchase order online.

Configure payment files for electronic submission to banks.

accounts payable


The optional Rebates of Financial Management Module of Epicor ERP provides you with a way to enter, update, and review any rebate program that your company runs with your customers. The module lets you accumulate rebates and pay a designated sold to customer, bill to customer, or another designated customer. These amounts are based on part and product group sales during a specified date range. Use this module to define the active rebate programs for your company. You can then generate the relevant transactions. Lastly, this functionality lets you pay the correct amounts to your customers through either an invoice check or a credit memo.

Use this program to generate all the relevant transactions that occur within a defined date range.

This Actions Menu command is found both in AR Invoice Entry and AP Invoice Entry. Use this command to turn the mentioned transactions into AP invoices or credit memos.

This program lets you enter rebate information for a single customer or a group of customers. You define the product groups or specific parts that will be included during the related offer as well as the respective breaks that the customer or customer group will receive.

This program lets you review all relevant transactions.

There are two tracker programs, Rebate Contract Tracker and Contract Status Tracker that you can use to follow the progress of the rebate programs.


Fixed Asset Management

fixed asset managementEffective asset management is a critical business requirement. Epicor ERP‘s Fixed Assets helps you record, track, and depreciate your fixed assets for optimal utilization.


Classify your assets for reporting and analysis into an unlimited number of asset classes and groups. These defaults streamline initial setup and executing mass changes to multiple assets.

Manage asset depreciation with multiple depreciation methods. Recalculate and project depreciation. Maintain accurate tracking and depreciation of company assets.

Control under- and over-charges by choosing how additions or changes to an asset’s depreciation charge are treated—even when the change occurs partway through a fiscal year.

Decide how to charge the opening book value of an asset when it is less than the annual depreciation charge. Charge it on a periodic basis until the book value equals zero, or spread the reduced annual charge across all periods in your fiscal year.

Keep your general ledger in sync with asset management through the comprehensive array of asset management accounts, including:

  • Asset provision account
  • Depreciation charge account
  • Addition control account
  • Disposal control account
  • Disposal provision account
  • Disposal profit/loss account

Quickly answer detailed questions regarding the location, source, and maintenance of your assets.

  • Location: Identify the location of your assets.
  • History: Document asset source, original purchase order and invoice number, manufacturer, manufacturing job number, and serial and/or model number.
  • Insurance: Capture and reference insurance information including insurer, asset policy number, monthly premium information, and renewal date.
  • Lease: If the asset is leased, document lease information like monthly lease cost, mileage, and lease end date.

Credit Card Processing

credit card processingEpicor Credit Card Processing also implements the security guidelines as specified in the Payment Card Industry Data Security Standard including securely encrypted account numbers and key management. Epicor Credit Card Processing includes easy to use maintenance for initial setup along with a variety of integration points to bring an easily deployable solution to your business.

  • Authorization with the sales order
  • Reauthorization with the sales order before picking and shipping
  • Complete or partial funds collected with the sales order
  • Funds collected at shipment
  • Reauthorization at product picking
  • Funds collected at cash receipt
  • Reauthorization of balance when partial shipments are made
  • Funds credited for returns

Credit Card Processing works online with the PayPal Payflow Pro (formerly Verisign®) secure card authorization system to validate credit cards and debit cards in the United States and The Royal Bank of Scotland® Group (RBS) PaymentTrust™ (formerly Trustmarque) for international transactions. The integration can also be utilized as a framework for integration to other payment processing services.

Credit Card Processing supports several industry standards, which will help reduce the possibility of credit card fraud, and will also help reduce the cost per credit card transaction.

  • Address Verification
  • Security Code (CSC ID)
  • MOD10 validation of the account number of the credit card number without requiring a transaction with the credit card processor

Utilizes industry standards for secure credit card information storage and display.

Once credit card number is entered and saved, the masked account number is stored in the Epicor database as is an encrypted account number. Encrypted numbers are secured from employee lookups of customer data.

Epicor uses a secured network connection to communicate with Payflow Pro and PaymentTrust. Credit card information is always safe and secure when it is transmitted, or when the results of the credit card transactions are returned to Epicor.

When the credit card number is entered it is validated using the MOD10 validation to determine that the card number is in the correct format. This validation is done completely within Epicor validation process in order to catch data entry errors before the information is sent to Payflow Pro or PaymentTrust, reducing potential transaction fees.

Prior to the MOD10 validation of the credit card number, if there is a prefix and/or length requirement, based on the credit card type, it is validated to determine that the card number is in the correct format.

The credit card implementation is highly configurable. Multiple types of credit cards are supported as well as the ability to customize the credit card authorization behavior to match a customers business practices.

Each of the Epicor Credit Card Processing processes that work with credit cards can be set up to define how credit card transactions will be processed.

This process reauthorizes credit card reservations that have expired or for other reasons need to be reestablished based on changes to the order or partial shipments.

Reports of credit card transactions are available for auditing purposes, some of which have been specifically designed for easy verification against PayPal reports.

A history of credit card transactions for an order are readily available on the credit card form and previous authorizations can be easily voided or deposited.

Cash Management

cash managementImprove cash management through Epicor‘s automatic handling and reporting of discounts available, payment due dates, and payment selection methods.

Specify the number and type of bank for each of your accounts, including currency.

You can customize EFT formats to meet your organization’s needs. These formats can match bank requirements and include remittance information.

Reconcile your bank statement with entries generated in Accounts Receivable, Accounts Payable, and Payroll.

You can automatically upload electronic bank statements and then auto-reconcile these statements with the manual reconciliation of unmatched items. Through this functionality, you combine several items in the application to match against one or more items on the statement. You enter the statement number, date, and full historical statement reconciliation success records. You can also perform manual allocation, enter ad hoc, non-AR, or non-AP statement amounts while in the reconciliation routine. Lastly, you generate an item list and a report.

Easily perform cash flow analysis for open AR balances and AP amounts owed. The dashboard streamlines the process with user-defined buckets for cash flow analysis by giving an easily understood display of your outstanding receivables and credit obligations.

General Ledger

General Ledger (GL) is the heart of Financial Management Module of Epicor, processing and posting all accounting transactions created throughout Epicor applications, as well as entries made directly within the ledger. While it is seldom accessed outside of the accounting and tax departments, the General Ledger’s impact is felt throughout an entire enterprise.

The information and controls which flow from the General Ledger system enable an organization to operate efficiently, comply with fiscal regulations, underpin strong corporate governance, and drive enterprise performance. General Ledger provides the accounting controls and system security necessary to help ensure the integrity of your company’s financial data.

At the core of General Ledger, Epicor Financial Management provides flexible financial accounting representations through multiple book functionality, which flows all the way through to financial reports and statements. “Multiple Books“ allows the establishment of unlimited financial books to support a wide variety of financial requirements, such as budgeting and forecasting, statutory and government accounting versus management accounting (for example, US GAAP and non-GAAP, etc), and comprehensive consolidations. Epicor Financial Management provides the tools to seamlessly handle the accounting representations from your various subsidiaries while at the same time giving you a consolidated view of the one version of the financial truth for your organization.

Key highlights and benefits of using Multiple Books within your company:

Chart of Accounts: Create a different chart of accounts by book, post transactions to different accounts within different books simultaneously using the posting engine.

Reporting Currency: Have a different reporting currency tied to each book and even, if ever needed, assign a different period calendar to each book. This flexibility allows users with a single journal to process both the management accounts and the statutory accounts at the same time without the need for multiple transaction entry.

Multiple Closing Calendars: As businesses acquire new businesses there is often a need to maintain different calendars for “stub“ periods or for example up to 18 months to bring the acquired company in line with the fiscal calendar of the acquiring business. Each established book can operate a completely independent fiscal calendar as applicable.

Calendar Adjustment Period: General Ledger has built-in support for an additional year-end period to be defined as a part of your calendar that will be used for year-end adjusting entries.

The highly configurable global tax engine within Epicor Financial Core allows businesses to define comprehensive tax rules and calculations in order to meet the needs of unique tax requirements and jurisdictions internationally, and then update them as often as needed.

Epicor Financial Management contains a global legal numbering engine to manage the legal numbering of all the printed transactions that a company sends to customers and suppliers.

Specific transactions that the legal numbering engine effects are:

• Sales Orders

• AR Invoices

• Purchase Orders

• Credit Memos

• Promissory Notes

• Payments (checks)

Epicor Financial Management meets the needs of businesses today through integral financial consolidation at either a summary or detailed transaction level, providing the flexibility to consolidate from different books and/or companies within a defined relationship.

• Merge balances (and underlying transactions) from one or more books into a single consolidated view of financial information, from which financial reports may be prepared, while at the same time creating the supporting elimination journal entries as a result of the process.

• Re-measure accounting transactions and financial results based on the differences in the consolidated currencies using differing rates types (spot, fixed, etc.).

Epicor Financial Report Writer offers the ability to report across one or multiple books, extract, manage and arithmetically handle data calculations, format reports based on user definitions, and publish results with corresponding formats to Excel if required.

Validation rules can be configured to control what gets posted to General Ledger from the sub-ledgers. The system will then control how transaction events are cleared to post, will not post, or will issue a warning before posting.

A discrete adjustment period enables accounting and finance personnel to make post-year-end adjustments such as management, audit, or tax journals supplementary to the defined fiscal calendar. This enhances audit controls while ensuring that rolled forward financial accounts, including consolidation books and retained earnings balances, are updated accordingly.

Inter-company journals reference accounts in other companies that have been flagged as globally available for posting transactions. Corresponding inter-company control accounts are updated upon posting in the source company. Once the transactions have been initiated, a General Journal is then created in the target company, posting to the appropriate accounts and initiating off-set journal entries to the intercompany accounts.

Show the current activity and balances for the period you specify. Locate an account through word search capabilities. Summarize view with options to drill down to account detail and supporting journal entries.

Post entries to any period in the current year, following year, or any subsequent year as required, even while the current period remains open.

Enter figures for any account and year. Globally update budgets by percentage. Enhanced capabilities for budgeting are provided via Epicor Enterprise Performance Management.

Print comparisons between current actuals and budgets or previous actuals.

Automate allocation of funds across multiple accounts without manual entry.

Offered as part of Epicor EPM, Management Reporter is an advanced financial application that provides robust financial

statements and user-definable reporting capabilities. Management Reporter performs many financial analytical functions including:

• Advanced financial intelligence. Hierarchies can be defined to facilitate the creation of different views of your business.  Business users can create management, legal, and soft consolidated reports.

• Strong support for regulatory compliance. Management Reporter helps organizations support generally accepted accounting practices (GAAP), international financial reporting standards (IFRS), and Sarbanes-Oxley regulations. Centralized data management, including security and business rules, and transactional reporting simplify regulatory compliance

general ledger

Why SMEs choose Epicor?

Managers and leaders of small and medium enterprises (SMEs) usually find hard to make decisions on an appropriate ERP solution. Particularly, they struggle with the questions of possible return on this investment and reliable software deployment. To answer why SMEs should choose Epicor, Data V Tech studies users’ reviews on TrusRadius*.

According to TrustRadius, there are 13 SMEs using Epicor. Only four verified users wrote their user experience on the solutions. All reviewers were working for enterprises of 11-50 employees. Particularly, Travis Kenworthy P.E., Josh Foote, and Rashell Bustamante gave an 8+/10 review on Epicor ERP On-Premises. And here are what they say:

Is Epicor ERP a solution for SMEs?

The shifting of workload and retraining of employees was challenging but we did it and now we can process more work with the same workforce.

The advantage to having all of our data in one location to eliminate the tribal knowledge has been priceless.

Rachel Bustanmante

Rachel BustanmanteProject Manager - Kinematic Automation

Rachel also raises a number of advantages that her company experiences. For example, Epicor SSRS helps generate reports and enables user to add fields and present data much easier. Furthermore, the software provides user interface enabling immediate access to information, which can be exported to Excel. Last but not least, Epicor’s scheduling capabilities help them increase orders with the same volume of resources.

I believe it has helped organize and track our work and provide a history of what we have done.

I don’t know how we would purchase things without using Epicor ERP to create POs and jobs.

Josh Foote

Josh FooteProcess employee - Grand Die, Inc

According to Josh, the software organizes, keeps track of work and provides a history of finished tasks. It also helps create POs and jobs and, as a result, facilitates purchasing things. More personally, the dashboard enables him and his fellows to customize the site in order to see their “favorites” easily. Finally, Epicor can satisfy their accounting requirements.

the benefit is the the better information can save money on projects as we know where best to spend our time and identify potential problems earlier on a project. We believe it will have a positive impact

Travis Kenworthy P.E.

Travis Kenworthy P.E.Principal Mechanical Engineer - ClearStream Environmental

Though Travis finds hard to evaluate return of investment, he is positive about the impacts of the solution on his company. Particularly, he also points out Epicor provides effective project management module. Furthermore, most of features he needs are available in the system, and he can easily hide those not in use. Finally, he concludes the list of Epicor’s strength with its supreme feature – expandability. That is, since Epicor enables you to customize almost everything, you yourself can expand your own system.

Are there any other reasons why SMEs choose Epicor?

Epicor programmers and consultants have proved Epicor is the solution for SMEs. According to Rachel Bustamante, “Epicor has truly listened and done their best to accommodate their customer’s needs.” Indeed, all Rachel’s comments on some unnecessary functions were promptly and seriously taken. Josh’s user experience in customizing the software in 2017 was another proof of our attempts to deal with this issue.

Proudly, we tackled the lack of detailed information on the available functions of Epicor as Travis mentioned in 2018. Particularly, Data V Tech is sharing knowledge on Epicor everyday on the website and forums. Moreover, there is now 24/7 support in services in order to ensure the best user experience.

In conclusion, Epicor is proved to be the ideal ERP for SMEs to develop their business. Particularly, the return of investment can downgrade the worrisome myth about unaffordable costs. Furthermore, the present version allows users to fully personalize their sites according to their needs. Foremost, Epicor vendors such as Data V Tech always listen to and support customers.

* TrustRadius is a review platform for software users.

Insights 2019 with Starbucks Coffee CEO & Founder

Epicor Insights 2019 provided us with fruitful training sessions and especially an interesting talk with Starbucks Coffee Founder Howard Schultz. Also in this conference, it is announced that E10.2.400 will have REST API version 2.0. Data V Tech team is very excited to share further information on the updated Epicor ERP when being back to Vietnam.

Insights 2019 training session 2
Training session
Insights 2019 Starbucks Coffee founder Howard Schultz
Starbucks Coffee Founder Howard Schultz – Insights 2019 guest
Insights 2019 training session 1

We worked hard and still felt fresh thanks to Epicor’s excellent organization. Apart from training sessions, we did have great time in Epicor Concert, to relax and to network. We just wish that everyone could have joined us!

This is the beginning of the concert before we threw ourselves into the crowd and music.